Senator Investment Group LP purchased a new stake in shares of Snap Inc. (NYSE:SNAP - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,500,000 shares of the company's stock, valued at approximately $16,155,000. Senator Investment Group LP owned 0.09% of Snap at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Trajan Wealth LLC grew its stake in shares of Snap by 5.9% in the fourth quarter. Trajan Wealth LLC now owns 20,191 shares of the company's stock worth $217,000 after acquiring an additional 1,132 shares during the last quarter. Natixis grew its position in Snap by 69.6% in the 4th quarter. Natixis now owns 2,909,997 shares of the company's stock worth $31,341,000 after purchasing an additional 1,193,826 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Snap by 140.0% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 107,948 shares of the company's stock worth $1,163,000 after purchasing an additional 62,977 shares during the period. Capital World Investors raised its position in shares of Snap by 38.9% during the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company's stock valued at $906,161,000 after buying an additional 23,569,522 shares during the last quarter. Finally, Forum Financial Management LP lifted its stake in shares of Snap by 40.0% in the fourth quarter. Forum Financial Management LP now owns 24,571 shares of the company's stock valued at $265,000 after buying an additional 7,015 shares during the period. 47.52% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Snap
In other news, CFO Derek Andersen sold 61,334 shares of Snap stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $664,860.56. Following the transaction, the chief financial officer now directly owns 3,564,235 shares of the company's stock, valued at $38,636,307.40. This trade represents a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Michael J. O'sullivan sold 18,000 shares of the company's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $11.49, for a total transaction of $206,820.00. Following the completion of the sale, the general counsel now owns 480,498 shares of the company's stock, valued at approximately $5,520,922.02. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,356,523 shares of company stock worth $12,710,077. 22.68% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of analysts have recently issued reports on SNAP shares. Piper Sandler lowered their price objective on Snap from $13.00 to $10.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Canaccord Genuity Group lowered their price target on shares of Snap from $13.00 to $10.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. UBS Group dropped their price objective on shares of Snap from $14.00 to $9.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Citigroup decreased their target price on shares of Snap from $13.50 to $9.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, Barclays reissued an "overweight" rating on shares of Snap in a research report on Wednesday, February 5th. One 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $35.49.
Check Out Our Latest Analysis on Snap
Snap Trading Up 2.3 %
SNAP stock traded up $0.19 during midday trading on Friday, reaching $8.52. The company's stock had a trading volume of 32,776,833 shares, compared to its average volume of 28,084,262. The business's 50-day simple moving average is $9.00 and its 200-day simple moving average is $10.51. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap Inc. has a 52 week low of $7.08 and a 52 week high of $17.33. The stock has a market cap of $14.45 billion, a PE ratio of -20.29 and a beta of 0.92.
Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings results 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 return on equity of 25.67% and a negative net margin of 13.02%. As a group, sell-side analysts expect that Snap Inc. will post -0.3 EPS for the current year.
Snap Company Profile
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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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