Snap Inc. (NYSE:SNAP) Shares Sold by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. reduced its stake in shares of Snap Inc. (NYSE:SNAP - Free Report) by 10.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,148,868 shares of the company's stock after selling 137,831 shares during the quarter. Nikko Asset Management Americas Inc. owned about 0.07% of Snap worth $12,373,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Checchi Capital Advisers LLC raised its position in Snap by 3.0% in the 4th quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company's stock worth $335,000 after purchasing an additional 901 shares during the period. HCR Wealth Advisors grew its stake in shares of Snap by 3.9% during the fourth quarter. HCR Wealth Advisors now owns 25,016 shares of the company's stock valued at $269,000 after buying an additional 934 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Snap by 3.1% in 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. Metis Global Partners LLC lifted its stake in shares of Snap by 6.9% during the 3rd quarter. Metis Global Partners LLC now owns 19,352 shares of the company's stock worth $207,000 after acquiring an additional 1,255 shares during the last quarter. Finally, Gradient Investments LLC boosted its holdings in Snap by 0.9% during the 4th quarter. Gradient Investments LLC now owns 142,144 shares of the company's stock valued at $1,531,000 after acquiring an additional 1,310 shares during the period. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Barclays reiterated an "overweight" rating on shares of Snap in a research report on Wednesday, February 5th. Guggenheim cut shares of Snap from a "buy" rating to a "neutral" rating in a research report on Tuesday, February 11th. BMO Capital Markets reaffirmed an "outperform" rating and set a $16.00 target price (down from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Bank of America boosted their price target on Snap from $14.00 to $14.50 and gave the company a "neutral" rating in a report on Wednesday, February 5th. Finally, Citizens Jmp downgraded Snap from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Snap has an average rating of "Hold" and an average price target of $36.87.

Insider Activity

In other news, CTO Robert C. Murphy sold 1,000,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the sale, the chief technology officer now owns 55,818,548 shares of the company's stock, valued at $504,599,673.92. This trade represents a 1.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Rebecca Morrow sold 8,837 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $95,793.08. Following the completion of the transaction, the chief accounting officer now owns 429,892 shares of the company's stock, valued at approximately $4,660,029.28. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,350,523 shares of company stock valued at $12,698,797. Company insiders own 22.68% of the company's stock.

Snap Stock Performance

NYSE:SNAP traded up $0.10 during trading hours on Friday, hitting $9.33. 37,520,056 shares of the company were exchanged, compared to its average volume of 25,555,540. 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 Inc. has a 52-week low of $8.29 and a 52-week high of $17.33. The stock has a market capitalization of $15.83 billion, a price-to-earnings ratio of -22.22 and a beta of 0.92. The company's 50 day moving average price is $10.44 and its 200-day moving average price is $10.77.

Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share 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%. As a group, research analysts forecast that Snap Inc. will post -0.3 earnings per share for the current year.

Snap 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.