Rockefeller Capital Management L.P. decreased its holdings in shares of Snap Inc. (NYSE:SNAP - Free Report) by 24.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 655,877 shares of the company's stock after selling 214,714 shares during the period. Rockefeller Capital Management L.P.'s holdings in Snap were worth $7,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hollencrest Capital Management purchased a new position in shares of Snap during the 2nd quarter valued at approximately $33,000. Blue Trust Inc. lifted its holdings in Snap by 354.1% in the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company's stock valued at $36,000 after purchasing an additional 1,682 shares in the last quarter. Rothschild Investment LLC purchased a new position in Snap in the 2nd quarter valued at $40,000. V Square Quantitative Management LLC purchased a new position in Snap in the 3rd quarter valued at $29,000. Finally, Paladin Wealth LLC purchased a new position in Snap in the 3rd quarter valued at $30,000. Hedge funds and other institutional investors own 47.52% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on SNAP shares. Cantor Fitzgerald raised their price objective on Snap from $8.00 to $9.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Citigroup raised their price objective on Snap from $11.00 to $13.00 and gave the company a "neutral" rating in a report on Friday, November 29th. Truist Financial lifted their price target on Snap from $13.00 to $14.00 and gave the stock a "hold" rating in a report on Wednesday, October 30th. Evercore ISI lifted their price target on Snap from $12.00 to $15.00 and gave the stock an "in-line" rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $16.00 price target on shares of Snap in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $13.91.
Check Out Our Latest Research Report on Snap
Snap Price Performance
SNAP stock traded down $0.24 during midday trading on Wednesday, hitting $12.62. 15,826,944 shares of the stock were exchanged, compared to its average volume of 27,633,508. The stock's 50-day moving average price is $11.12 and its 200-day moving average price is $12.24. The stock has a market cap of $21.17 billion, a price-to-earnings ratio of -22.19 and a beta of 0.97. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.90. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04.
Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. The firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. Snap's revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.21) earnings per share. Research analysts predict that Snap Inc. will post -0.4 earnings per share for the current year.
Insider Transactions at Snap
In other news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $12.50, for a total value of $12,500,000.00. Following the completion of the sale, the chief technology officer now owns 57,210,989 shares of the company's stock, valued at $715,137,362.50. The trade was a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Michael J. O'sullivan sold 18,000 shares of Snap stock in a transaction on Friday, November 29th. The shares were sold at an average price of $11.89, for a total value of $214,020.00. Following the completion of the sale, the general counsel now directly owns 464,009 shares of the company's stock, valued at approximately $5,517,067.01. This represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,406,709 shares of company stock valued at $16,662,107 over the last three months.
Snap 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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