Rhumbline Advisers Has $1.88 Million Stake in Snap Inc. (NYSE:SNAP)

Rhumbline Advisers lowered its position in Snap Inc. (NYSE:SNAP - Free Report) by 14.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 174,342 shares of the company's stock after selling 28,401 shares during the period. Rhumbline Advisers' holdings in Snap were worth $1,878,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Blue Trust Inc. lifted its position in Snap by 128.0% during the 4th quarter. Blue Trust Inc. now owns 4,370 shares of the company's stock worth $47,000 after buying an additional 2,453 shares in the last quarter. V Square Quantitative Management LLC lifted its position in shares of Snap by 213.3% during the fourth quarter. V Square Quantitative Management LLC now owns 8,378 shares of the company's stock worth $91,000 after purchasing an additional 5,704 shares in the last quarter. Compagnie Lombard Odier SCmA grew its stake in shares of Snap by 312.8% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 170,674 shares of the company's stock valued at $1,838,000 after purchasing an additional 129,330 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Snap in the fourth quarter valued at approximately $2,285,000. Finally, Certuity LLC raised its position in Snap by 9.2% in the 4th quarter. Certuity LLC now owns 17,738 shares of the company's stock worth $191,000 after purchasing an additional 1,495 shares during the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Snap news, SVP Eric Young sold 102,152 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $1,107,327.68. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Rebecca Morrow sold 32,000 shares of the company's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $12.42, for a total value of $397,440.00. Following the completion of the transaction, the chief accounting officer now directly owns 433,064 shares in the company, valued at $5,378,654.88. The trade was a 6.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 481,471 shares of company stock valued at $5,394,906 over the last ninety days. 22.68% of the stock is currently owned by company insiders.

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Wall Street Analysts Forecast Growth

Several research firms have recently commented on SNAP. JPMorgan Chase & Co. lowered their target price on Snap from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Wednesday, February 5th. Citizens Jmp lowered Snap from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Barclays restated an "overweight" rating on shares of Snap in a research report on Wednesday, February 5th. JMP Securities reaffirmed a "market outperform" rating and issued a $16.00 price objective on shares of Snap in a research note on Monday, January 27th. Finally, Bank of America lifted their target price on shares of Snap from $14.00 to $14.50 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $36.87.

Snap Stock Performance

Shares of SNAP traded up $0.12 during midday trading on Friday, reaching $9.72. The stock had a trading volume of 10,239,207 shares, compared to its average volume of 28,534,813. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. The firm has a 50 day simple moving average of $10.97 and a 200-day simple moving average of $10.80. The firm has a market cap of $16.48 billion, a PE ratio of -23.13 and a beta of 0.92. Snap Inc. has a one year low of $8.29 and a one 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 earnings per share (EPS) 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%. As a group, sell-side analysts anticipate that Snap Inc. will post -0.3 EPS for the current year.

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.