Connor Clark & Lunn Investment Management Ltd. cut its stake in Snap Inc. (NYSE:SNAP - Free Report) by 19.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,132,530 shares of the company's stock after selling 777,929 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.19% of Snap worth $33,737,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. boosted its stake in Snap by 141.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company's stock valued at $30,000 after purchasing an additional 1,632 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Snap in the fourth quarter valued at $32,000. Brooklyn Investment Group bought a new position in Snap during the third quarter valued at about $41,000. Blue Trust Inc. grew its holdings in Snap by 128.0% during the fourth quarter. Blue Trust Inc. now owns 4,370 shares of the company's stock worth $47,000 after acquiring an additional 2,453 shares during the period. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new position in Snap during the fourth quarter worth about $54,000. Institutional investors and hedge funds own 47.52% of the company's stock.
Snap Stock Performance
Snap stock traded up $0.27 during trading hours on Friday, hitting $8.64. The stock had a trading volume of 22,742,346 shares, compared to its average volume of 28,873,570. The company has a 50-day moving average of $10.77 and a two-hundred day moving average of $10.79. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.33. The company has a market cap of $14.65 billion, a PE ratio of -20.56 and a beta of 0.92.
Snap (NYSE:SNAP - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.01 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%. On average, equities research analysts anticipate that Snap Inc. will post -0.3 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the stock. Citizens Jmp lowered shares of Snap from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Citigroup increased their target price on Snap from $13.00 to $13.50 and gave the company a "neutral" rating in a report on Wednesday, February 5th. Susquehanna raised their price target on shares of Snap from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. Guggenheim lowered Snap from a "buy" rating to a "neutral" rating in a report on Tuesday, February 11th. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $16.00 price target (down from $18.00) on shares of Snap in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $36.87.
Check Out Our Latest Analysis on Snap
Insider Transactions at Snap
In related news, SVP Eric Young sold 102,152 shares of Snap stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $1,107,327.68. Following the completion of the transaction, the senior vice president now directly owns 3,443,419 shares of the company's stock, valued at $37,326,661.96. This trade represents a 2.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the sale, the chief technology officer now directly owns 55,818,548 shares in the company, valued at $504,599,673.92. This represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,449,168 shares of company stock valued at $14,033,679. Company insiders own 22.68% of the company's stock.
About Snap
(
Free Report)
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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