1,608,479 Shares in Snap Inc. (NYSE:SNAP) Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board acquired a new position in shares of Snap Inc. (NYSE:SNAP - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 1,608,479 shares of the company's stock, valued at approximately $17,323,000. Canada Pension Plan Investment Board owned about 0.10% of Snap at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNAP. Charles Schwab Investment Management Inc. lifted its holdings in Snap by 6.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company's stock worth $71,095,000 after buying an additional 389,812 shares during the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Snap during the 4th quarter worth about $289,000. Bank of New York Mellon Corp lifted its stake in 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 during the last quarter. Empowered Funds LLC boosted its holdings in Snap by 3.1% in the fourth quarter. Empowered Funds LLC now owns 35,639 shares of the company's stock valued at $384,000 after purchasing an additional 1,055 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in Snap in the fourth quarter valued at approximately $158,000. Institutional investors and hedge funds own 47.52% of the company's stock.

Insider Buying and Selling at Snap

In other Snap news, General Counsel Michael J. O'sullivan sold 18,000 shares of Snap stock in a transaction that occurred on Friday, January 31st. The shares were 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 of the company's stock, valued at approximately $5,520,922.02. The trade was a 3.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Derek Andersen sold 33,618 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $8.83, for a total value of $296,846.94. Following the transaction, the chief financial officer now directly owns 3,507,897 shares in the company, valued at approximately $30,974,730.51. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,356,523 shares of company stock worth $12,710,077. Corporate insiders own 22.68% of the company's stock.

Snap Price Performance

SNAP stock traded up $0.19 during midday trading on Friday, hitting $8.52. 32,678,113 shares of the stock were exchanged, compared to its average volume of 28,083,925. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The stock has a market cap of $14.45 billion, a price-to-earnings ratio of -20.29 and a beta of 0.92. Snap Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $17.33. The stock's 50-day moving average price is $9.00 and its 200-day moving average price is $10.51.

Snap (NYSE:SNAP - Get Free Report) last announced its earnings results 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%. Research analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.

Wall Street Analyst Weigh In

SNAP has been the subject of several recent analyst reports. Bank of America reduced their price objective on shares of Snap from $14.50 to $10.50 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley reduced their price target on shares of Snap from $10.00 to $8.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Barclays restated an "overweight" rating on shares of Snap in a research note on Wednesday, February 5th. Wells Fargo & Company cut their target price on Snap from $11.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Monday, March 31st. Finally, Citigroup decreased their target price on Snap from $13.50 to $9.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. One equities research 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's stock. According to MarketBeat, Snap currently has a consensus rating of "Hold" and a consensus price target of $35.49.

Snap Company 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.