Snap Inc. (NYSE:SNAP) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its position in shares of Snap Inc. (NYSE:SNAP - Free Report) by 24.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,350,865 shares of the company's stock after selling 1,435,628 shares during the period. Legal & General Group Plc owned about 0.26% of Snap worth $46,859,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in Snap by 6.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company's stock valued at $71,095,000 after purchasing an additional 389,812 shares during the period. Patriot Financial Group Insurance Agency LLC purchased a new position in Snap during the fourth quarter valued at approximately $289,000. Bank of New York Mellon Corp raised its stake in Snap by 2.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,538,111 shares of the company's stock worth $16,565,000 after buying an additional 29,526 shares in the last quarter. Empowered Funds LLC lifted its holdings in Snap by 3.1% during the fourth quarter. Empowered Funds LLC now owns 35,639 shares of the company's stock worth $384,000 after buying an additional 1,055 shares during the period. Finally, Sei Investments Co. bought a new stake in Snap during the 4th quarter valued at $158,000. 47.52% of the stock is currently owned by institutional investors.

Snap Stock Performance

Shares of SNAP stock traded up $0.12 on Friday, hitting $7.86. The company had a trading volume of 32,068,115 shares, compared to its average volume of 28,140,860. The firm has a market cap of $13.34 billion, a P/E ratio of -18.72 and a beta of 0.92. Snap Inc. has a twelve month low of $7.08 and a twelve month high of $17.33. The company has a 50-day moving average price of $9.25 and a 200-day moving average price of $10.59. 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 (NYSE:SNAP - Get Free Report) last issued 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 return on equity of 25.67% and a negative net margin of 13.02%. As a group, equities research analysts predict that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on SNAP. BMO Capital Markets restated an "outperform" rating and set a $16.00 price objective (down from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Citigroup lowered their price target on shares of Snap from $13.50 to $9.00 and set a "neutral" rating on the stock in a report on Monday. Barclays reiterated an "overweight" rating on shares of Snap in a research note on Wednesday, February 5th. Canaccord Genuity Group lowered their target price on shares of Snap from $13.00 to $10.00 and set a "hold" rating for the company in a research note on Thursday. Finally, Piper Sandler cut their price target on shares of Snap from $13.00 to $10.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, twenty-four have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Snap currently has a consensus rating of "Hold" and an average target price of $35.60.

Insider Buying and Selling at Snap

In related news, General Counsel Michael J. O'sullivan sold 18,000 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $11.49, for a total transaction of $206,820.00. Following the completion of the sale, the general counsel now directly owns 480,498 shares in the company, valued at approximately $5,520,922.02. The trade was a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Eric Young sold 102,152 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $1,107,327.68. Following the completion of the transaction, the senior vice president now owns 3,443,419 shares in the company, valued at $37,326,661.96. The trade was a 2.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,356,523 shares of company stock valued at $12,710,077. Corporate insiders own 22.68% of the company's stock.

About Snap

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.