Vanguard Group Inc. decreased its position in Snap Inc. (NYSE:SNAP - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 102,561,650 shares of the company's stock after selling 1,195,897 shares during the quarter. Vanguard Group Inc. owned approximately 6.12% of Snap worth $1,104,589,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. United Bank bought a new stake in shares of Snap in the 3rd quarter worth approximately $177,000. Quest Partners LLC bought a new position in shares of Snap during the third quarter valued at $81,000. Advisors Asset Management Inc. raised 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 worth $30,000 after purchasing an additional 1,632 shares during the last quarter. Intech Investment Management LLC raised its holdings in Snap by 1.9% in the third quarter. Intech Investment Management LLC now owns 77,592 shares of the company's stock worth $830,000 after buying an additional 1,433 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Snap by 62.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company's stock valued at $66,462,000 after buying an additional 2,386,519 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company's stock.
Insider Transactions at Snap
In related news, General Counsel Michael J. O'sullivan sold 14,183 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $8.83, for a total transaction of $125,235.89. Following the sale, the general counsel now owns 2,256,101 shares in the company, valued at approximately $19,921,371.83. This represents a 0.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the transaction, the chief technology officer now directly owns 55,818,548 shares of the company's stock, valued at $504,599,673.92. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,332,523 shares of company stock worth $12,503,677 in the last three months. Insiders own 22.68% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have commented on SNAP. Citigroup lifted their target price on shares of Snap from $13.00 to $13.50 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. Barclays reaffirmed an "overweight" rating on shares of Snap in a research report on Wednesday, February 5th. Susquehanna raised their price objective on shares of Snap from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. BMO Capital Markets reaffirmed an "outperform" rating and set a $16.00 target price (down from $18.00) on shares of Snap in a report on Wednesday, January 15th. Finally, Guggenheim downgraded shares of Snap from a "buy" rating to a "neutral" rating in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, twenty-four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $36.80.
Check Out Our Latest Stock Report on Snap
Snap Price Performance
NYSE SNAP traded up $0.20 during trading on Tuesday, hitting $8.91. 15,514,699 shares of the stock traded hands, compared to its average volume of 28,686,453. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.33. The firm has a 50-day simple moving average of $10.12 and a 200-day simple moving average of $10.82. The company has a market capitalization of $15.11 billion, a P/E ratio of -21.23 and a beta of 0.92.
Snap (NYSE:SNAP - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. As a group, analysts predict that Snap Inc. will post -0.3 EPS for the current year.
About Snap
(
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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