Illinois Municipal Retirement Fund reduced its position in shares of Snap Inc. (NYSE:SNAP - Free Report) by 44.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 349,011 shares of the company's stock after selling 276,635 shares during the period. Illinois Municipal Retirement Fund's holdings in Snap were worth $3,759,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNAP. Charles Schwab Investment Management Inc. grew its holdings in shares of Snap by 62.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company's stock valued at $66,462,000 after purchasing an additional 2,386,519 shares during the last quarter. Aigen Investment Management LP acquired a new stake in Snap in the third quarter valued at approximately $1,345,000. Invenomic Capital Management LP bought a new stake in shares of Snap during the third quarter worth $2,349,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of Snap by 49.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,639,681 shares of the company's stock worth $28,245,000 after buying an additional 879,212 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in shares of Snap in the 3rd quarter valued at $828,000. 47.52% of the stock is currently owned by institutional investors.
Snap Stock Up 2.7 %
Shares of SNAP traded up $0.27 during trading hours on Friday, hitting $10.26. The stock had a trading volume of 21,440,214 shares, compared to its average volume of 29,646,766. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.33. The firm has a market capitalization of $17.40 billion, a P/E ratio of -24.42 and a beta of 0.99. The firm has a 50 day simple moving average of $11.09 and a 200-day simple moving average of $10.80. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95.
Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings data 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%. Sell-side analysts predict that Snap Inc. will post -0.3 EPS for the current fiscal year.
Insider Buying and Selling at Snap
In other news, CFO Derek Andersen sold 94,164 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $11.44, for a total value of $1,077,236.16. Following the transaction, the chief financial officer now owns 2,193,806 shares in the company, valued at $25,097,140.64. This trade represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Rebecca Morrow sold 32,000 shares of the company's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $12.42, for a total value of $397,440.00. Following the sale, the chief accounting officer now owns 433,064 shares of the company's stock, valued at $5,378,654.88. This trade represents a 6.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 481,471 shares of company stock worth $5,394,906. 22.68% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on SNAP shares. Wells Fargo & Company lowered Snap from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $15.00 to $11.00 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 note on Monday, January 27th. Barclays reiterated an "overweight" rating on shares of Snap in a report on Wednesday, February 5th. Citizens Jmp lowered shares of Snap from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 5th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $640.00 price target on shares of Snap in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Snap currently has an average rating of "Hold" and a consensus price target of $36.87.
Read Our Latest Analysis on SNAP
Snap Profile
(
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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