Pictet Asset Management Holding SA lifted its holdings in Snap Inc. (NYSE:SNAP - Free Report) by 28.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 525,305 shares of the company's stock after purchasing an additional 117,797 shares during the quarter. Pictet Asset Management Holding SA's holdings in Snap were worth $5,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of Snap by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company's stock worth $124,742,000 after buying an additional 575,324 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Snap by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company's stock worth $71,095,000 after purchasing an additional 389,812 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Snap by 0.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,245,128 shares of the company's stock valued at $34,950,000 after purchasing an additional 15,294 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Snap by 51.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company's stock worth $33,244,000 after purchasing an additional 1,050,501 shares during the period. Finally, Norges Bank purchased a new position in shares of Snap in the fourth quarter worth approximately $30,162,000. 47.52% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have commented on SNAP. Citizens Jmp raised shares of Snap from a "hold" rating to a "strong-buy" rating in a report on Friday, March 28th. Susquehanna raised their target price on Snap from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. JMP Securities reissued a "market outperform" rating and set a $16.00 price target on shares of Snap in a report on Monday, January 27th. Barclays reaffirmed an "overweight" rating on shares of Snap in a research note on Wednesday, February 5th. Finally, Citigroup boosted their price objective on Snap from $13.00 to $13.50 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twenty-four have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Snap presently has a consensus rating of "Hold" and a consensus target price of $36.80.
Check Out Our Latest Analysis on SNAP
Insider Buying and Selling at Snap
In other Snap news, SVP Eric Young sold 102,152 shares of the company's stock in a transaction dated 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 transaction, the senior vice president now directly owns 3,443,419 shares in the company, valued at $37,326,661.96. This represents a 2.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Derek Andersen sold 22,720 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $8.58, for a total transaction of $194,937.60. Following the transaction, the chief financial officer now directly owns 3,541,515 shares in the company, valued at approximately $30,386,198.70. This trade represents a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,356,523 shares of company stock worth $12,710,077 over the last 90 days. Company insiders own 22.68% of the company's stock.
Snap Trading Up 0.4 %
Shares of NYSE SNAP traded up $0.04 during trading hours on Friday, hitting $8.06. 48,608,525 shares of the company traded hands, compared to its average volume of 27,544,906. The stock has a market capitalization of $13.66 billion, a price-to-earnings ratio of -19.18 and a beta of 0.92. The company's 50 day moving average price is $9.95 and its 200 day moving average price is $10.77. Snap Inc. has a 12 month low of $7.66 and a 12 month high of $17.33. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47.
Snap (NYSE:SNAP - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. On average, equities research analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current fiscal year.
Snap Profile
(
Free Report)
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.
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