Tredje AP fonden Sells 79,977 Shares of Snap Inc. (NYSE:SNAP)

Tredje AP fonden decreased its holdings in shares of Snap Inc. (NYSE:SNAP - Free Report) by 50.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,977 shares of the company's stock after selling 79,977 shares during the quarter. Tredje AP fonden's holdings in Snap were worth $861,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Advisors Asset Management Inc. increased its holdings 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 purchasing an additional 1,632 shares during the period. Comprehensive Financial Planning Inc. PA purchased a new position in Snap during the fourth quarter valued at approximately $32,000. Brooklyn Investment Group acquired a new position in Snap in the 3rd quarter valued at approximately $41,000. Blue Trust Inc. lifted its position in Snap by 128.0% in the 4th quarter. Blue Trust Inc. now owns 4,370 shares of the company's stock worth $47,000 after buying an additional 2,453 shares in the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new stake in shares of Snap during the 4th quarter valued at $54,000. 47.52% of the stock is owned by institutional investors and hedge funds.

Snap Price Performance

Shares of Snap stock traded up $0.33 during midday trading on Wednesday, hitting $9.06. 37,937,700 shares of the company were exchanged, compared to its average volume of 25,433,840. The firm has a 50 day simple moving average of $10.56 and a 200-day simple moving average of $10.80. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. The firm has a market cap of $15.36 billion, a P/E ratio of -21.56 and a beta of 0.92. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.33.

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Snap (NYSE:SNAP - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.01 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%. Research analysts forecast that Snap Inc. will post -0.3 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Rebecca Morrow sold 8,837 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $95,793.08. Following the completion of the sale, the chief accounting officer now directly owns 429,892 shares in the company, valued at approximately $4,660,029.28. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Derek Andersen sold 61,334 shares of Snap stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value 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 $38,636,307.40. This represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,350,523 shares of company stock valued at $12,698,797. 22.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SNAP shares. BMO Capital Markets reiterated an "outperform" rating and set a $16.00 price objective (down from $18.00) on shares of Snap in a report on Wednesday, January 15th. Bank of America lifted their price target on Snap from $14.00 to $14.50 and gave the company a "neutral" rating in a report on Wednesday, February 5th. JMP Securities restated a "market outperform" rating and issued a $16.00 price objective on shares of Snap in a report on Monday, January 27th. Citigroup lifted their target price on shares of Snap from $13.00 to $13.50 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Snap from $11.00 to $10.00 and set an "underweight" rating on the stock in a research note on Wednesday, February 5th. One investment 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $36.87.

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.