Mitsubishi UFJ Asset Management Co. Ltd. Has $13.09 Million Holdings in Snap Inc. (NYSE:SNAP)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Snap Inc. (NYSE:SNAP - Free Report) by 23.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,215,046 shares of the company's stock after purchasing an additional 227,219 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.07% of Snap worth $13,086,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Groupama Asset Managment bought a new position in Snap in the 3rd quarter worth approximately $13,032,000. Assenagon Asset Management S.A. raised its position in shares of Snap by 51.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company's stock worth $33,244,000 after acquiring an additional 1,050,501 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Snap by 49.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,639,681 shares of the company's stock worth $28,245,000 after acquiring an additional 879,212 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Snap during the fourth quarter valued at $7,614,000. Finally, Geode Capital Management LLC increased its position in Snap by 5.2% in the third quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company's stock worth $124,742,000 after purchasing an additional 575,324 shares during the period. Institutional investors own 47.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Susquehanna lifted their price target on shares of Snap from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. dropped their target price on shares of Snap from $11.00 to $10.00 and set an "underweight" rating for the company in a research report on Wednesday, February 5th. Guggenheim restated a "neutral" rating on shares of Snap in a research report on Wednesday. Needham & Company LLC reiterated a "buy" rating and issued a $640.00 price objective on shares of Snap in a report on Thursday, December 5th. Finally, Citizens Jmp upgraded Snap from a "hold" rating to a "strong-buy" rating in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $36.80.

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Insider Activity at Snap

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the completion of the sale, the chief technology officer now directly owns 55,818,548 shares in the company, valued at $504,599,673.92. This trade represents a 1.76 % 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, SVP Eric Young sold 102,152 shares of the business's 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 $1,107,327.68. Following the sale, the senior vice president now owns 3,443,419 shares of the company's stock, valued at approximately $37,326,661.96. This represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,356,523 shares of company stock worth $12,710,077. Company insiders own 22.68% of the company's stock.

Snap Stock Performance

Shares of SNAP traded down $0.83 during midday trading on Thursday, reaching $8.06. The stock had a trading volume of 50,680,749 shares, compared to its average volume of 27,343,369. The firm has a market cap of $13.66 billion, a PE ratio of -19.18 and a beta of 0.92. The firm has a 50 day simple moving average of $10.06 and a 200-day simple moving average of $10.80. Snap Inc. has a one year low of $7.98 and a one year 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 posted its quarterly earnings results 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, 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.