Russell Investments Group Ltd. Acquires 508,528 Shares of Snap Inc. (NYSE:SNAP)

Russell Investments Group Ltd. grew its holdings in shares of Snap Inc. (NYSE:SNAP - Free Report) by 116.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 945,024 shares of the company's stock after buying an additional 508,528 shares during the quarter. Russell Investments Group Ltd. owned 0.06% of Snap worth $10,200,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SNAP. Checchi Capital Advisers LLC increased its holdings in shares of Snap by 3.0% in the 4th quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company's stock valued at $335,000 after acquiring an additional 901 shares during the last quarter. HCR Wealth Advisors lifted its position in shares of Snap by 3.9% in the 4th quarter. HCR Wealth Advisors now owns 25,016 shares of the company's stock worth $269,000 after buying an additional 934 shares during the last quarter. Empowered Funds LLC grew its position in shares of Snap by 3.1% during the 4th quarter. Empowered Funds LLC now owns 35,639 shares of the company's stock valued at $384,000 after buying an additional 1,055 shares during the last quarter. Gradient Investments LLC raised its stake in Snap by 0.9% during the fourth quarter. Gradient Investments LLC now owns 142,144 shares of the company's stock worth $1,531,000 after acquiring an additional 1,310 shares during the period. Finally, Certuity LLC lifted its holdings in Snap by 9.2% in the fourth quarter. Certuity LLC now owns 17,738 shares of the company's stock worth $191,000 after acquiring an additional 1,495 shares during the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, CAO Rebecca Morrow sold 8,837 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 $95,793.08. Following the transaction, the chief accounting officer now owns 429,892 shares of the company's stock, valued at approximately $4,660,029.28. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Michael J. O'sullivan sold 18,000 shares of the company's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $11.49, for a total value of $206,820.00. Following the sale, the general counsel now owns 480,498 shares of the company's stock, valued at approximately $5,520,922.02. This trade 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 valued at $12,710,077. Corporate insiders own 22.68% of the company's stock.

Snap Trading Down 0.4 %

Shares of SNAP stock traded down $0.04 during trading hours on Tuesday, reaching $7.88. 24,436,993 shares of the stock traded hands, compared to its average volume of 28,173,900. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $13.36 billion, a PE ratio of -18.75 and a beta of 0.92. Snap Inc. has a 1-year low of $7.08 and a 1-year high of $17.33. The business has a fifty day moving average price of $9.43 and a 200 day moving average price of $10.65.

Snap (NYSE:SNAP - Get Free Report) last announced its 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 net margin of 13.02% and a negative return on equity of 25.67%. On average, equities research analysts forecast that Snap Inc. will post -0.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SNAP shares. Citigroup dropped their price target on Snap from $13.50 to $9.00 and set a "neutral" rating on the stock in a research report on Monday. BMO Capital Markets reiterated an "outperform" rating and issued a $16.00 target price (down from $18.00) on shares of Snap in a research note on Wednesday, January 15th. UBS Group dropped their price objective on shares of Snap from $14.00 to $9.00 and set a "neutral" rating on the stock in a report on Friday. The Goldman Sachs Group reduced their target price on shares of Snap from $13.50 to $9.50 and set a "neutral" rating for the company in a research note on Monday. Finally, Bank of America dropped their price target on shares of Snap from $14.50 to $10.50 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $36.00.

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.