KBC Group NV Sells 122,999 Shares of Snap Inc. (NYSE:SNAP)

KBC Group NV lowered its position in shares of Snap Inc. (NYSE:SNAP - Free Report) by 46.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 139,781 shares of the company's stock after selling 122,999 shares during the quarter. KBC Group NV's holdings in Snap were worth $1,496,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Hollencrest Capital Management bought a new position in shares of Snap during the 2nd quarter valued at about $33,000. Blue Trust Inc. increased its position in shares of Snap by 354.1% during the second quarter. Blue Trust Inc. now owns 2,157 shares of the company's stock worth $36,000 after acquiring an additional 1,682 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of Snap during the second quarter worth $40,000. V Square Quantitative Management LLC acquired a new stake in shares of Snap during the third quarter worth $29,000. Finally, Paladin Wealth LLC bought a new stake in Snap in the 3rd quarter valued at $30,000. Institutional investors own 47.52% of the company's stock.

Snap Price Performance

Snap stock traded down $0.05 during trading hours on Tuesday, reaching $10.50. 20,481,128 shares of the stock were exchanged, compared to its average volume of 27,791,957. The stock has a 50 day moving average of $10.76 and a two-hundred day moving average of $12.57. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.90. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The company has a market cap of $17.61 billion, a P/E ratio of -18.10 and a beta of 0.99.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter in the previous year, the firm earned ($0.21) EPS. Snap's revenue was up 15.4% on a year-over-year basis. Equities analysts expect that Snap Inc. will post -0.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SNAP shares. Argus raised Snap to a "hold" rating in a research note on Thursday, August 8th. JMP Securities reduced their price target on Snap from $17.00 to $16.00 and set a "market outperform" rating for the company in a research report on Wednesday, October 30th. HSBC cut shares of Snap from a "buy" rating to a "hold" rating in a research note on Friday, August 2nd. Barclays reduced their target price on shares of Snap from $17.00 to $16.00 and set an "overweight" rating for the company in a report on Friday, August 2nd. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $16.00 price target on shares of Snap in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $14.31.

Insider Activity

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the business's stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $12.50, for a total value of $12,500,000.00. Following the sale, the chief technology officer now owns 57,210,989 shares of the company's stock, valued at $715,137,362.50. The trade was a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Derek Andersen sold 97,608 shares of Snap stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $9.29, for a total value of $906,778.32. Following the transaction, the chief financial officer now directly owns 2,287,970 shares in the company, valued at $21,255,241.30. The trade was a 4.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,221,220 shares of company stock worth $14,659,201.

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.