Primecap Management Co. CA lessened its stake in shares of Snap Inc. (NYSE:SNAP - Free Report) by 74.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,250 shares of the company's stock after selling 92,500 shares during the period. Primecap Management Co. CA's holdings in Snap were worth $337,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its position in shares of Snap by 141.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company's stock valued at $30,000 after acquiring an additional 1,632 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new stake in Snap during the 4th quarter valued at $32,000. Brooklyn Investment Group purchased a new stake in shares of Snap in the third quarter valued at $41,000. Blue Trust Inc. boosted its position in shares of Snap by 128.0% in the fourth quarter. Blue Trust Inc. now owns 4,370 shares of the company's stock worth $47,000 after buying an additional 2,453 shares during the period. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new position in Snap in the 4th quarter worth about $54,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on SNAP. JPMorgan Chase & Co. lowered their price target on Snap from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Wednesday, February 5th. Wells Fargo & Company downgraded shares of Snap from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $15.00 to $11.00 in a research report on Wednesday, February 5th. Guggenheim downgraded shares of Snap from a "buy" rating to a "neutral" rating in a report on Tuesday, February 11th. Needham & Company LLC reiterated a "buy" rating and issued a $640.00 price objective on shares of Snap in a report on Thursday, December 5th. Finally, Citizens Jmp downgraded shares of Snap from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $36.87.
Check Out Our Latest Stock Analysis on SNAP
Insider Activity at Snap
In other Snap news, CFO Derek Andersen sold 61,334 shares of Snap stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $664,860.56. Following the completion of the transaction, the chief financial officer now directly owns 3,564,235 shares of the company's stock, valued at approximately $38,636,307.40. This trade represents a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael J. O'sullivan sold 14,183 shares of Snap stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $8.83, for a total transaction of $125,235.89. Following the transaction, the general counsel now directly owns 2,256,101 shares of the company's stock, valued at $19,921,371.83. This represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,350,523 shares of company stock valued at $12,698,797 in the last 90 days. 22.68% of the stock is owned by corporate insiders.
Snap Price Performance
Shares of SNAP stock traded up $0.20 during mid-day trading on Monday, reaching $9.53. The company's stock had a trading volume of 21,228,028 shares, compared to its average volume of 25,524,495. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The firm's 50-day moving average is $10.38 and its two-hundred day moving average is $10.80. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.33. The company has a market cap of $16.16 billion, a P/E ratio of -22.68 and a beta of 0.92.
Snap (NYSE:SNAP - Get Free Report) last posted its quarterly 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 return on equity of 25.67% and a negative net margin of 13.02%. On average, research analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.
Snap Company 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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