Norges Bank Invests $30.16 Million in Snap Inc. (NYSE:SNAP)

Norges Bank acquired a new position in Snap Inc. (NYSE:SNAP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,800,514 shares of the company's stock, valued at approximately $30,162,000. Norges Bank owned approximately 0.17% of Snap at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SNAP. Mountain Hill Investment Partners Corp. bought a new position in shares of Snap in the fourth quarter worth $27,000. Comprehensive Financial Planning Inc. PA acquired a new stake in Snap in the fourth quarter worth about $32,000. Blue Trust Inc. grew its position in Snap by 128.0% in the 4th quarter. Blue Trust Inc. now owns 4,370 shares of the company's stock valued at $47,000 after buying an additional 2,453 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new position in Snap in the 4th quarter valued at about $54,000. Finally, V Square Quantitative Management LLC increased its stake in Snap by 213.3% during the 4th quarter. V Square Quantitative Management LLC now owns 8,378 shares of the company's stock valued at $91,000 after buying an additional 5,704 shares during the period. 47.52% of the stock is owned by institutional investors.

Snap Stock Up 2.0 %

Shares of NYSE:SNAP traded up $0.16 during trading on Friday, reaching $7.99. 28,400,778 shares of the company traded hands, compared to its average volume of 28,170,085. The firm has a fifty day simple moving average of $9.55 and a 200 day simple moving average of $10.68. 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 Inc. has a 1-year low of $7.08 and a 1-year high of $17.33. The firm has a market cap of $13.55 billion, a P/E ratio of -19.01 and a beta of 0.92.

Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings data 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 net margin of 13.02% and a negative return on equity of 25.67%. Analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Activity

In other Snap news, SVP Eric Young sold 102,152 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $1,107,327.68. Following the transaction, the senior vice president now directly owns 3,443,419 shares in the company, valued at $37,326,661.96. This trade represents a 2.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Derek Andersen sold 61,334 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $664,860.56. Following the completion of the sale, the chief financial officer now directly owns 3,564,235 shares of the company's stock, valued at $38,636,307.40. This represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,356,523 shares of company stock worth $12,710,077 in the last three months. 22.68% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on SNAP shares. JPMorgan Chase & Co. decreased their price objective on shares of Snap from $10.00 to $8.00 and set an "underweight" rating for the company in a report on Tuesday. Bank of America decreased their price target on Snap from $14.50 to $10.50 and set a "neutral" rating for the company in a research note on Wednesday. UBS Group dropped their price objective on Snap from $14.00 to $9.00 and set a "neutral" rating on the stock in a research note on Friday. Barclays reaffirmed an "overweight" rating on shares of Snap in a research note on Wednesday, February 5th. Finally, Piper Sandler dropped their price target on shares of Snap from $13.00 to $10.00 and set a "neutral" rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, twenty-four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $36.32.

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.