DekaBank Deutsche Girozentrale Cuts Position in Snap Inc. (NYSE:SNAP)

DekaBank Deutsche Girozentrale lowered its holdings in shares of Snap Inc. (NYSE:SNAP - Free Report) by 30.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 196,790 shares of the company's stock after selling 85,964 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Snap were worth $2,108,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SNAP. Wealth Enhancement Advisory Services LLC boosted its position in Snap by 20.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,323 shares of the company's stock valued at $153,000 after buying an additional 2,395 shares during the period. PFG Investments LLC increased its position in shares of Snap by 80.3% during the third quarter. PFG Investments LLC now owns 49,271 shares of the company's stock worth $527,000 after acquiring an additional 21,950 shares during the period. Forsta AP Fonden raised its stake in shares of Snap by 15.0% during the third quarter. Forsta AP Fonden now owns 236,600 shares of the company's stock valued at $2,532,000 after acquiring an additional 30,900 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Snap by 3,391.5% in the third quarter. International Assets Investment Management LLC now owns 24,685 shares of the company's stock valued at $264,000 after purchasing an additional 23,978 shares during the period. Finally, TB Alternative Assets Ltd. grew its stake in Snap by 105.6% in the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company's stock worth $85,406,000 after purchasing an additional 4,098,847 shares in the last quarter. Institutional investors own 47.52% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SNAP shares. B. Riley lifted their target price on Snap from $11.00 to $12.00 and gave the company a "neutral" rating in a research report on Wednesday. UBS Group lifted their price objective on Snap from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Wednesday. Wells Fargo & Company lowered their price objective on shares of Snap from $15.00 to $14.00 and set an "overweight" rating for the company in a research note on Friday, October 4th. Argus raised shares of Snap to a "hold" rating in a research report on Thursday, August 8th. Finally, HSBC cut shares of Snap from a "buy" rating to a "hold" rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $14.25.

Snap Stock Performance

SNAP stock traded up $0.37 during midday trading on Friday, reaching $12.53. The stock had a trading volume of 49,753,791 shares, compared to its average volume of 28,778,938. The firm has a fifty day simple moving average of $10.18 and a two-hundred day simple moving average of $12.70. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.90. The company has a debt-to-equity ratio of 1.63, a quick ratio of 3.98 and a current ratio of 4.04. The stock has a market cap of $20.79 billion, a PE ratio of -21.60 and a beta of 0.99.

Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the company earned ($0.21) earnings per share. The company's revenue was up 15.4% on a year-over-year basis. As a group, equities research analysts anticipate that Snap Inc. will post -0.47 EPS for the current year.

Insiders Place Their Bets

In related news, Director Joanna Coles sold 6,434 shares of the firm's stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $12.00, for a total transaction of $77,208.00. Following the completion of the transaction, the director now owns 54,761 shares of the company's stock, valued at $657,132. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, General Counsel Michael J. O'sullivan sold 18,000 shares of the firm's stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $10.81, for a total transaction of $194,580.00. Following the sale, the general counsel now owns 489,058 shares of the company's stock, valued at $5,286,716.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joanna Coles sold 6,434 shares of Snap stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $12.00, for a total transaction of $77,208.00. Following the transaction, the director now directly owns 54,761 shares of the company's stock, valued at approximately $657,132. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,497,051 shares of company stock valued at $13,261,098. 22.68% of the stock is owned by insiders.

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.