Snap Inc. (NYSE:SNAP) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in Snap Inc. (NYSE:SNAP - Free Report) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,538,111 shares of the company's stock after acquiring an additional 29,526 shares during the period. Bank of New York Mellon Corp owned 0.09% of Snap worth $16,565,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. HCR Wealth Advisors lifted its holdings in Snap by 3.9% in the fourth quarter. HCR Wealth Advisors now owns 25,016 shares of the company's stock valued at $269,000 after acquiring an additional 934 shares during the last quarter. Empowered Funds LLC lifted its holdings in Snap by 3.1% in the fourth quarter. Empowered Funds LLC now owns 35,639 shares of the company's stock valued at $384,000 after acquiring an additional 1,055 shares during the last quarter. Metis Global Partners LLC lifted its holdings in Snap by 6.9% in the third quarter. Metis Global Partners LLC now owns 19,352 shares of the company's stock valued at $207,000 after acquiring an additional 1,255 shares during the last quarter. Gradient Investments LLC lifted its holdings in Snap by 0.9% in the fourth quarter. Gradient Investments LLC now owns 142,144 shares of the company's stock valued at $1,531,000 after acquiring an additional 1,310 shares during the last quarter. Finally, Intech Investment Management LLC lifted its holdings in Snap by 1.9% in the third quarter. Intech Investment Management LLC now owns 77,592 shares of the company's stock valued at $830,000 after acquiring an additional 1,433 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Snap Stock Performance

Shares of SNAP stock opened at $8.84 on Wednesday. The stock's 50-day moving average is $10.91 and its two-hundred day moving average is $10.82. The firm has a market cap of $14.99 billion, a price-to-earnings ratio of -21.04 and a beta of 0.92. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.33. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95.

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Snap (NYSE:SNAP - Get Free Report) last issued 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 return on equity of 25.67% and a negative net margin of 13.02%. Analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on SNAP. BMO Capital Markets restated an "outperform" rating and set a $16.00 price target (down from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Wells Fargo & Company cut Snap from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $15.00 to $11.00 in a research note on Wednesday, February 5th. Citizens Jmp cut Snap from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. decreased their price target on Snap from $11.00 to $10.00 and set an "underweight" rating on the stock in a research note on Wednesday, February 5th. Finally, Citigroup upped their price target on Snap from $13.00 to $13.50 and gave the stock a "neutral" rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Snap currently has a consensus rating of "Hold" and an average price target of $36.87.

Insider Transactions at Snap

In related news, CFO Derek Andersen sold 17,789 shares of the firm's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $12.00, for a total value of $213,468.00. Following the completion of the sale, the chief financial officer now owns 2,176,017 shares in the company, valued at $26,112,204. This trade represents a 0.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Rebecca Morrow sold 2,812 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $11.44, for a total transaction of $32,169.28. Following the completion of the sale, the chief accounting officer now owns 430,252 shares of the company's stock, valued at approximately $4,922,082.88. The trade was a 0.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 449,168 shares of company stock worth $4,993,679. Company insiders own 22.68% of the company's stock.

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.

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