Snap Inc. (NYSE:SNAP) Shares Sold by Andra AP fonden

Andra AP fonden cut its holdings in shares of Snap Inc. (NYSE:SNAP - Free Report) by 62.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 147,700 shares of the company's stock after selling 250,600 shares during the period. Andra AP fonden's holdings in Snap were worth $2,453,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Snap by 0.9% in the first quarter. Vanguard Group Inc. now owns 96,148,590 shares of the company's stock worth $1,103,786,000 after purchasing an additional 830,889 shares in the last quarter. SRS Investment Management LLC lifted its position in Snap by 23.6% during the fourth quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company's stock valued at $1,102,392,000 after acquiring an additional 12,452,415 shares during the last quarter. Capital World Investors boosted its stake in Snap by 0.8% in the first quarter. Capital World Investors now owns 46,272,273 shares of the company's stock valued at $531,206,000 after acquiring an additional 385,191 shares in the last quarter. Ossiam grew its holdings in Snap by 7.1% in the first quarter. Ossiam now owns 11,334,804 shares of the company's stock worth $130,124,000 after purchasing an additional 751,846 shares during the last quarter. Finally, Carmignac Gestion purchased a new stake in Snap in the fourth quarter valued at about $110,103,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Snap

In other Snap news, General Counsel Michael J. O'sullivan sold 18,000 shares of Snap stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $9.30, for a total value of $167,400.00. Following the completion of the transaction, the general counsel now directly owns 456,662 shares of the company's stock, valued at approximately $4,246,956.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Snap news, General Counsel Michael J. O'sullivan sold 18,000 shares of the firm's stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $9.30, for a total value of $167,400.00. Following the completion of the transaction, the general counsel now owns 456,662 shares of the company's stock, valued at approximately $4,246,956.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company's stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total value of $8,690,000.00. Following the sale, the chief technology officer now directly owns 58,553,813 shares in the company, valued at approximately $508,832,634.97. The disclosure for this sale can be found here. Insiders sold a total of 1,352,420 shares of company stock worth $12,091,682 over the last ninety days. Company insiders own 22.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Citigroup lowered their price objective on shares of Snap from $16.00 to $11.00 and set a "neutral" rating for the company in a research note on Monday, August 12th. HSBC downgraded Snap from a "buy" rating to a "hold" rating in a research note on Friday, August 2nd. The Goldman Sachs Group reduced their price objective on Snap from $16.00 to $12.00 and set a "neutral" rating for the company in a research note on Friday, August 2nd. Bank of America dropped their target price on Snap from $16.00 to $13.00 and set a "neutral" rating on the stock in a research report on Friday, August 2nd. Finally, Roth Mkm reduced their price target on shares of Snap from $15.00 to $14.00 and set a "neutral" rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, Snap presently has a consensus rating of "Hold" and a consensus target price of $13.87.

Snap Trading Up 2.0 %

Shares of SNAP stock traded up $0.19 during trading on Friday, hitting $9.51. 30,625,270 shares of the stock traded hands, compared to its average volume of 27,345,377. Snap Inc. has a 52-week low of $8.28 and a 52-week high of $17.90. The firm has a market capitalization of $15.61 billion, a P/E ratio of -12.05 and a beta of 1.00. The firm's fifty day moving average price is $11.39 and its 200-day moving average price is $12.86. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98.

Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.02. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.25 billion. As a group, research analysts forecast that Snap Inc. will post -0.48 earnings per share for the current fiscal 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.