Korea Investment CORP raised its position in Snap Inc. (NYSE:SNAP - Free Report) by 150.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 502,995 shares of the company's stock after acquiring an additional 301,842 shares during the quarter. Korea Investment CORP's holdings in Snap were worth $5,417,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Snap by 5.2% in the third quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company's stock valued at $124,742,000 after purchasing an additional 575,324 shares during the period. Charles Schwab Investment Management Inc. lifted its position in 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 acquiring an additional 389,812 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Snap by 0.5% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,245,128 shares of the company's stock valued at $34,950,000 after purchasing an additional 15,294 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Snap by 51.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company's stock worth $33,244,000 after purchasing an additional 1,050,501 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Snap by 49.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,639,681 shares of the company's stock worth $28,245,000 after purchasing an additional 879,212 shares during the last quarter. Institutional investors own 47.52% of the company's stock.
Analyst Ratings Changes
SNAP has been the topic of several research reports. JMP Securities restated a "market outperform" rating and issued a $16.00 price target on shares of Snap in a research note on Monday, January 27th. Needham & Company LLC restated a "buy" rating and set a $640.00 price objective on shares of Snap in a research report on Thursday, December 5th. Citigroup lifted their price target on shares of Snap from $13.00 to $13.50 and gave the company a "neutral" rating in a report on Wednesday, February 5th. BMO Capital Markets reiterated an "outperform" rating and issued a $16.00 target price (down from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Finally, Susquehanna lifted 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. One equities research analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $36.80.
Get Our Latest Research Report on Snap
Insider Buying and Selling
In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $9.04, for a total value 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. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Michael J. O'sullivan sold 18,000 shares of Snap stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $11.49, for a total value of $206,820.00. Following the completion of the sale, the general counsel now directly owns 480,498 shares of the company's stock, 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 ninety days, insiders have sold 1,356,523 shares of company stock valued at $12,710,077. 22.68% of the stock is owned by insiders.
Snap Stock Down 9.3 %
Snap stock traded down $0.83 during midday trading on Thursday, hitting $8.06. 50,680,749 shares of the stock were exchanged, compared to its average volume of 27,343,369. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $13.66 billion, a price-to-earnings ratio of -19.18 and a beta of 0.92. Snap Inc. has a 52-week low of $7.98 and a 52-week high of $17.33. The business's 50-day moving average price is $10.06 and its 200-day moving average price is $10.80.
Snap (NYSE:SNAP - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate 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, research analysts expect that Snap Inc. will post -0.3 EPS for the current fiscal year.
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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