Van ECK Associates Corp Grows Stake in Snap Inc. (NYSE:SNAP)

Van ECK Associates Corp lifted its holdings in Snap Inc. (NYSE:SNAP - Free Report) by 150.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 73,295 shares of the company's stock after acquiring an additional 43,994 shares during the quarter. Van ECK Associates Corp's holdings in Snap were worth $744,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SNAP. TB Alternative Assets Ltd. increased its stake in Snap by 105.6% in the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company's stock worth $85,406,000 after purchasing an additional 4,098,847 shares during the period. Dynamic Advisor Solutions LLC bought a new position in shares of Snap in the third quarter worth approximately $832,000. Exchange Traded Concepts LLC increased its stake in shares of Snap by 38.7% in the third quarter. Exchange Traded Concepts LLC now owns 784,982 shares of the company's stock worth $8,399,000 after buying an additional 219,111 shares during the period. APG Asset Management N.V. raised its holdings in Snap by 3.9% during the 2nd quarter. APG Asset Management N.V. now owns 2,957,491 shares of the company's stock valued at $45,835,000 after buying an additional 112,135 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in Snap by 17.0% during the 3rd quarter. Vontobel Holding Ltd. now owns 327,705 shares of the company's stock valued at $3,506,000 after buying an additional 47,717 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company's stock.

Snap Trading Down 4.7 %

Shares of NYSE:SNAP traded down $0.56 during trading on Tuesday, reaching $11.40. The company's stock had a trading volume of 13,137,312 shares, compared to its average volume of 27,718,973. The stock has a market capitalization of $19.12 billion, a PE ratio of -20.60 and a beta of 0.99. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.90. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The firm's 50 day simple moving average is $10.51 and its two-hundred day simple moving average is $12.76.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The company's revenue for the quarter was up 15.4% on a year-over-year basis. During the same period last year, the company earned ($0.21) EPS. On average, research analysts predict that Snap Inc. will post -0.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SNAP has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their price objective on Snap from $13.00 to $11.00 and set a "hold" rating on the stock in a research report on Monday, October 14th. Canaccord Genuity Group upped their price objective on shares of Snap from $12.00 to $13.00 and gave the stock a "hold" rating in a report on Wednesday, October 30th. Loop Capital boosted their price target on shares of Snap from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Cantor Fitzgerald raised their price objective on shares of Snap from $8.00 to $9.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $16.00 target price on shares of Snap in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, Snap presently has a consensus rating of "Hold" and an average price target of $14.31.

Insiders Place Their Bets

In other news, SVP Eric Young sold 114,097 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.11, for a total value of $1,039,423.67. Following the sale, the senior vice president now owns 3,041,723 shares of the company's stock, valued at approximately $27,710,096.53. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Rebecca Morrow sold 8,923 shares of the business's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.10, for a total transaction of $81,199.30. Following the completion of the transaction, the chief accounting officer now owns 472,405 shares in the company, valued at $4,298,885.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Eric Young sold 114,097 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.11, for a total value of $1,039,423.67. Following the completion of the sale, the senior vice president now owns 3,041,723 shares in the company, valued at approximately $27,710,096.53. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,365,051 shares of company stock valued at $15,965,178 over the last three months. 22.68% of the stock is owned by company insiders.

Snap Company 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.