KLP Kapitalforvaltning AS bought a new position in shares of Snap Inc. (NYSE:SNAP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 464,400 shares of the company's stock, valued at approximately $5,002,000.
Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Snap by 62.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company's stock valued at $66,462,000 after buying an additional 2,386,519 shares during the last quarter. Invenomic Capital Management LP acquired a new stake in shares of Snap in the 3rd quarter worth about $2,349,000. Jacobs Levy Equity Management Inc. lifted its position in Snap by 49.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,639,681 shares of the company's stock valued at $28,245,000 after purchasing an additional 879,212 shares during the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in Snap during the 4th quarter valued at about $289,000. Finally, Holocene Advisors LP acquired a new stake in shares of Snap in the third quarter valued at approximately $3,436,000. Institutional investors and hedge funds own 47.52% of the company's stock.
Insider Activity
In related news, General Counsel Michael J. O'sullivan sold 18,000 shares of the business's stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $10.84, for a total value of $195,120.00. Following the completion of the sale, the general counsel now owns 498,498 shares of the company's stock, valued at approximately $5,403,718.32. The trade was a 3.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Derek Andersen sold 33,618 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 3,507,897 shares in the company, valued at $30,974,730.51. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,350,523 shares of company stock worth $12,698,797 in the last ninety days. Corporate insiders own 22.68% of the company's stock.
Analyst Ratings Changes
SNAP has been the subject of several analyst reports. Wells Fargo & Company downgraded 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. Barclays reissued an "overweight" rating on shares of Snap in a research note on Wednesday, February 5th. Bank of America lifted their price objective on shares of Snap from $14.00 to $14.50 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. decreased their target price on shares of Snap from $11.00 to $10.00 and set an "underweight" rating for the company in a research report on Wednesday, February 5th. Finally, Susquehanna boosted their price target on shares of Snap from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, Snap has a consensus rating of "Hold" and a consensus price target of $36.87.
View Our Latest Stock Analysis on Snap
Snap Stock Down 3.2 %
Snap stock traded down $0.30 during mid-day trading on Friday, hitting $8.88. The company's stock had a trading volume of 20,112,794 shares, compared to its average volume of 27,141,074. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.33. The company has a market cap of $15.06 billion, a PE ratio of -21.13 and a beta of 0.92. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. The firm's 50 day moving average is $10.16 and its 200 day moving average is $10.81.
Snap (NYSE:SNAP - Get Free Report) last posted its quarterly 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%. On average, analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current year.
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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