BI Asset Management Fondsmaeglerselskab A S Buys 62,977 Shares of Snap Inc. (NYSE:SNAP)

BI Asset Management Fondsmaeglerselskab A S boosted its stake in Snap Inc. (NYSE:SNAP - Free Report) by 140.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 107,948 shares of the company's stock after purchasing an additional 62,977 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Snap were worth $1,163,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Snap by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company's stock valued at $71,095,000 after acquiring an additional 389,812 shares during the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new stake in Snap in the fourth quarter worth $289,000. Bank of New York Mellon Corp boosted its position in shares of Snap by 2.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,538,111 shares of the company's stock worth $16,565,000 after purchasing an additional 29,526 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Snap by 3.1% in the 4th quarter. Empowered Funds LLC now owns 35,639 shares of the company's stock valued at $384,000 after buying an additional 1,055 shares during the period. Finally, Sei Investments Co. bought a new stake in shares of Snap in the 4th quarter valued at $158,000. Institutional investors and hedge funds own 47.52% of the company's stock.

Snap Stock Performance

Shares of SNAP stock opened at $7.84 on Wednesday. The company has a market capitalization of $13.30 billion, a price-to-earnings ratio of -18.67 and a beta of 0.92. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. Snap Inc. has a 52 week low of $7.08 and a 52 week high of $17.33. The company has a 50-day simple moving average of $9.13 and a 200 day simple moving average of $10.54.

Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. On average, sell-side analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling at Snap

In related news, General Counsel Michael J. O'sullivan sold 18,000 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $11.49, for a total value of $206,820.00. Following the completion of the sale, the general counsel now directly owns 480,498 shares in the company, valued at approximately $5,520,922.02. The trade was a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Rebecca Morrow sold 8,837 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $95,793.08. Following the transaction, the chief accounting officer now owns 429,892 shares in the company, valued at approximately $4,660,029.28. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,356,523 shares of company stock valued at $12,710,077 in the last ninety days. 22.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Canaccord Genuity Group cut their price objective on Snap from $13.00 to $10.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. Barclays reissued an "overweight" rating on shares of Snap in a research report on Wednesday, February 5th. JMP Securities reaffirmed a "market outperform" rating and issued a $16.00 price objective on shares of Snap in a research report on Monday, January 27th. Citigroup lowered their target price on Snap from $13.50 to $9.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. cut their price target on Snap from $10.00 to $8.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $35.60.

Snap Profile

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.

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