Resona Asset Management Co. Ltd. Makes New Investment in Snap Inc. (NYSE:SNAP)

Resona Asset Management Co. Ltd. acquired a new position in shares of Snap Inc. (NYSE:SNAP - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 297,926 shares of the company's stock, valued at approximately $3,216,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Prudential PLC lifted its stake in shares of Snap by 181.6% during the fourth quarter. Prudential PLC now owns 42,045 shares of the company's stock worth $453,000 after buying an additional 27,113 shares during the period. Grant Private Wealth Management Inc acquired a new position in shares of Snap in the 4th quarter valued at $330,000. Bryce Point Capital LLC acquired a new position in Snap in the 4th quarter worth about $577,000. Trexquant Investment LP lifted its position in shares of Snap by 90.6% during the 4th quarter. Trexquant Investment LP now owns 1,164,286 shares of the company's stock valued at $12,539,000 after buying an additional 553,504 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Snap by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 11,831,472 shares of the company's stock worth $127,078,000 after purchasing an additional 134,017 shares in the last quarter. Hedge funds and other institutional investors own 47.52% of the company's stock.

Insider Buying and Selling at Snap

In other Snap news, CFO Derek Andersen sold 22,720 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $8.58, for a total transaction of $194,937.60. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Rebecca Morrow sold 8,837 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $95,793.08. Following the transaction, the chief accounting officer now owns 429,892 shares in the company, valued at $4,660,029.28. The trade was a 2.01 % decrease in their ownership of the stock. 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 over the last three months. Corporate insiders own 22.68% of the company's stock.

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Snap Stock Down 0.9 %

Snap stock traded down $0.07 during midday trading on Monday, reaching $7.89. The stock had a trading volume of 16,087,018 shares, compared to its average volume of 28,149,193. The firm's fifty day simple moving average is $9.48 and its 200-day simple moving average is $10.67. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The stock has a market capitalization of $13.38 billion, a P/E ratio of -18.79 and a beta of 0.92. Snap Inc. has a 1-year low of $7.08 and a 1-year high of $17.33.

Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. As a group, analysts expect that Snap Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $16.00 price objective on shares of Snap in a research note on Monday, January 27th. BMO Capital Markets restated an "outperform" rating and set a $16.00 price objective (down from $18.00) on shares of Snap in a research report on Wednesday, January 15th. JPMorgan Chase & Co. lowered their price target on Snap from $10.00 to $8.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. Susquehanna lifted their target price on shares of Snap from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Wednesday, February 5th. Finally, Wells Fargo & Company lowered their price objective on shares of Snap from $11.00 to $9.00 and set an "equal weight" rating for the company in a research note on Monday, March 31st. One investment analyst has rated the stock with a sell rating, twenty-four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $36.17.

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.