Capital International Investors Invests $422.05 Million in Snap Inc. (NYSE:SNAP)

Capital International Investors bought a new position in shares of Snap Inc. (NYSE:SNAP - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 39,187,434 shares of the company's stock, valued at approximately $422,049,000. Capital International Investors owned approximately 2.34% of Snap at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in Snap by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 11,831,472 shares of the company's stock worth $127,078,000 after acquiring an additional 134,017 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Snap by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company's stock worth $71,095,000 after purchasing an additional 389,812 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Snap by 0.5% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,245,128 shares of the company's stock worth $34,950,000 after purchasing an additional 15,294 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Snap by 51.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company's stock valued at $33,244,000 after purchasing an additional 1,050,501 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Snap in the 4th quarter valued at about $30,162,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Snap Stock Up 4.4 %

Shares of SNAP stock traded up $0.36 during mid-day trading on Thursday, reaching $8.34. 15,887,224 shares of the company were exchanged, compared to its average volume of 28,015,951. The company has a market capitalization of $14.14 billion, a P/E ratio of -19.87 and a beta of 0.92. The business's 50 day simple moving average is $9.00 and its 200 day simple moving average is $10.51. 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 fifty-two week low of $7.08 and a fifty-two week high of $17.33.

Snap (NYSE:SNAP - Get Free Report) last issued 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 net margin of 13.02% and a negative return on equity of 25.67%. Research analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.

Insider Transactions at Snap

In other news, CFO Derek Andersen sold 22,720 shares of Snap stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $8.58, for a total value of $194,937.60. Following the completion of the transaction, the chief financial officer now directly owns 3,541,515 shares of the company's stock, valued at approximately $30,386,198.70. The trade was a 0.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Michael J. O'sullivan sold 18,000 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $11.49, for a total transaction of $206,820.00. Following the sale, the general counsel now owns 480,498 shares in the company, valued at approximately $5,520,922.02. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,356,523 shares of company stock worth $12,710,077. 22.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SNAP has been the subject of several research analyst reports. JMP Securities reissued a "market outperform" rating and issued a $16.00 price objective on shares of Snap in a report on Monday, January 27th. Canaccord Genuity Group reduced their price objective on shares of Snap from $13.00 to $10.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. BMO Capital Markets reissued an "outperform" rating and issued a $16.00 price target (down from $18.00) on shares of Snap in a report on Wednesday, January 15th. Barclays reiterated an "overweight" rating on shares of Snap in a report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. lowered their target price 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Snap has an average rating of "Hold" and a consensus target price 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.