Snap Inc. (NYSE:SNAP) Stake Cut by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in Snap Inc. (NYSE:SNAP - Free Report) by 91.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,272 shares of the company's stock after selling 2,913,332 shares during the period. Victory Capital Management Inc.'s holdings in Snap were worth $3,010,000 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 SNAP. GraniteShares Advisors LLC raised its stake in shares of Snap by 2.5% in the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company's stock valued at $634,000 after purchasing an additional 941 shares in the last quarter. Concurrent Investment Advisors LLC raised its stake in Snap by 4.0% during the second quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company's stock valued at $448,000 after buying an additional 1,048 shares in the last quarter. DMC Group LLC lifted its holdings in Snap by 10.5% during the 2nd quarter. DMC Group LLC now owns 15,583 shares of the company's stock worth $259,000 after buying an additional 1,477 shares during the last quarter. Blue Trust Inc. grew its position in shares of Snap by 354.1% in the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company's stock worth $36,000 after acquiring an additional 1,682 shares in the last quarter. Finally, Wedmont Private Capital increased its holdings in shares of Snap by 6.9% in the 2nd quarter. Wedmont Private Capital now owns 29,394 shares of the company's stock valued at $476,000 after acquiring an additional 1,894 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Eric Young sold 50,000 shares of the company's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $10.54, for a total transaction of $527,000.00. Following the completion of the sale, the senior vice president now directly owns 752,110 shares of the company's stock, valued at $7,927,239.40. This represents a 6.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Rebecca Morrow sold 11,154 shares of Snap stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.55, for a total value of $117,674.70. Following the completion of the transaction, the chief accounting officer now directly owns 465,064 shares in the company, valued at $4,906,425.20. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,406,709 shares of company stock worth $16,615,487 in the last ninety days. 22.68% of the stock is currently owned by corporate insiders.

Snap Stock Up 7.4 %

Shares of SNAP stock opened at $11.42 on Friday. Snap Inc. has a 1 year low of $8.29 and a 1 year 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. The business's fifty day moving average is $10.85 and its 200-day moving average is $12.50. The stock has a market cap of $19.15 billion, a PE ratio of -19.69 and a beta of 0.99.

Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.36 billion. During the same period in the previous year, the business earned ($0.21) earnings per share. Snap's revenue for the quarter was up 15.4% compared to the same quarter last year. Equities analysts expect that Snap Inc. will post -0.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SNAP has been the topic of several research analyst reports. Loop Capital raised their price objective on Snap from $14.00 to $16.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Susquehanna reduced their price target on shares of Snap from $15.00 to $12.00 and set a "neutral" rating on the stock in a research report on Friday, August 2nd. Barclays dropped their price objective on shares of Snap from $17.00 to $16.00 and set an "overweight" rating on the stock in a research note on Friday, August 2nd. Evercore ISI raised their target price on shares of Snap from $12.00 to $15.00 and gave the stock an "in-line" rating in a report on Wednesday, October 30th. Finally, Hsbc Global Res cut Snap from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Snap currently has an average rating of "Hold" and a consensus price target of $14.31.

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.