Snap Inc. (NYSE:SNAP) Shares Sold by Tobam

Tobam trimmed its holdings in Snap Inc. (NYSE:SNAP - Free Report) by 74.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,651 shares of the company's stock after selling 188,031 shares during the period. Tobam's holdings in Snap were worth $696,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in shares of Snap during the 3rd quarter valued at $29,000. Paladin Wealth LLC bought a new position in Snap during the 3rd quarter worth approximately $30,000. Advisors Asset Management Inc. increased its stake in Snap by 141.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company's stock worth $30,000 after purchasing an additional 1,632 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Snap during the third quarter valued at approximately $41,000. Finally, Blue Trust Inc. boosted its stake in shares of Snap by 136.3% during the fourth quarter. Blue Trust Inc. now owns 4,529 shares of the company's stock valued at $48,000 after purchasing an additional 2,612 shares during the period. Institutional investors own 47.52% of the company's stock.

Snap Stock Up 0.2 %

SNAP stock traded up $0.03 during trading on Tuesday, hitting $10.74. 13,591,388 shares of the company's stock traded hands, compared to its average volume of 33,262,238. The business has a fifty day simple moving average of $11.44 and a two-hundred day simple moving average of $10.80. The company has a quick ratio of 4.04, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $18.00 billion, a P/E ratio of -25.56 and a beta of 0.99. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.33.

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%. Sell-side analysts anticipate that Snap Inc. will post -0.26 EPS for the current year.

Analysts Set New Price Targets

SNAP has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $640.00 price target on shares of Snap in a report on Thursday, December 5th. Piper Sandler reiterated a "neutral" rating and set a $13.00 target price (up from $12.00) on shares of Snap in a report on Wednesday, October 30th. Citizens Jmp downgraded Snap from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. dropped their price objective on Snap from $11.00 to $10.00 and set an "underweight" rating for the company in a report on Wednesday, February 5th. Finally, Wells Fargo & Company downgraded Snap from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $15.00 to $11.00 in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $36.87.

Insider Activity at Snap

In related news, SVP Eric Young sold 112,020 shares of the firm's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.55, for a total transaction of $1,181,811.00. Following the sale, the senior vice president now owns 2,791,048 shares in the company, valued at approximately $29,445,556.40. This trade represents a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Rebecca Morrow sold 32,000 shares of the company's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $12.42, for a total transaction of $397,440.00. Following the completion of the transaction, the chief accounting officer now owns 433,064 shares of the company's stock, valued at approximately $5,378,654.88. This trade represents a 6.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 443,518 shares of company stock worth $4,947,981 over the last quarter. Insiders own 22.68% of the company's stock.

Snap 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.