SBI Securities Co. Ltd. acquired a new stake in shares of Snap Inc. (NYSE:SNAP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 30,684 shares of the company's stock, valued at approximately $330,000.
Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC grew its position in 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 acquiring an additional 23,978 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Snap by 20.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,323 shares of the company's stock valued at $153,000 after acquiring an additional 2,395 shares during the period. Van ECK Associates Corp grew its position in Snap by 150.1% in the third quarter. Van ECK Associates Corp now owns 73,295 shares of the company's stock valued at $744,000 after acquiring an additional 43,994 shares during the period. Forum Financial Management LP grew its position in Snap by 49.2% in the third quarter. Forum Financial Management LP now owns 17,556 shares of the company's stock valued at $188,000 after acquiring an additional 5,793 shares during the period. Finally, Concurrent Investment Advisors LLC grew its position in Snap by 8.3% in the third quarter. Concurrent Investment Advisors LLC now owns 29,227 shares of the company's stock valued at $313,000 after acquiring an additional 2,229 shares during the period. 47.52% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, CFO Derek Andersen sold 17,789 shares of Snap stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $12.00, for a total transaction of $213,468.00. Following the completion of the sale, the chief financial officer now directly owns 2,176,017 shares of the company's stock, valued at approximately $26,112,204. This trade represents a 0.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Rebecca Morrow sold 2,812 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $11.44, for a total value of $32,169.28. Following the transaction, the chief accounting officer now owns 430,252 shares in the company, valued at approximately $4,922,082.88. This trade represents a 0.65 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 481,471 shares of company stock valued at $5,394,906. Insiders own 22.68% of the company's stock.
Snap Stock Up 1.3 %
SNAP stock traded up $0.13 during mid-day trading on Friday, reaching $9.73. The company had a trading volume of 22,446,507 shares, compared to its average volume of 28,828,330. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. The stock has a 50 day simple moving average of $10.94 and a two-hundred day simple moving average of $10.80. The company has a market capitalization of $16.50 billion, a price-to-earnings ratio of -23.15 and a beta of 0.92. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.33.
Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates 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, equities analysts predict that Snap Inc. will post -0.3 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have weighed in on SNAP shares. JMP Securities reiterated a "market outperform" rating and issued a $16.00 price target on shares of Snap in a research report on Monday, January 27th. Barclays reiterated an "overweight" rating on shares of Snap in a research report on Wednesday, February 5th. Needham & Company LLC reiterated a "buy" rating and issued a $640.00 price target on shares of Snap in a research report on Thursday, December 5th. Citizens Jmp lowered Snap from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Finally, Susquehanna boosted their price objective on Snap from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $36.87.
Get Our Latest Stock Analysis on Snap
About Snap
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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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