abrdn plc Buys 18,581 Shares of Snap Inc. (NYSE:SNAP)

abrdn plc boosted its holdings in Snap Inc. (NYSE:SNAPGet Rating) by 40.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,225 shares of the company’s stock after buying an additional 18,581 shares during the period. abrdn plc’s holdings in Snap were worth $2,318,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. AlphaCrest Capital Management LLC grew its stake in Snap by 730.6% in the 4th quarter. AlphaCrest Capital Management LLC now owns 33,481 shares of the company’s stock valued at $1,575,000 after buying an additional 29,450 shares in the last quarter. Raymond James & Associates grew its position in shares of Snap by 5.6% during the 4th quarter. Raymond James & Associates now owns 788,491 shares of the company’s stock valued at $37,083,000 after purchasing an additional 41,539 shares in the last quarter. AMS Capital Ltda purchased a new position in shares of Snap during the 4th quarter valued at $6,584,000. Pictet Asset Management SA grew its position in shares of Snap by 236.4% during the 4th quarter. Pictet Asset Management SA now owns 1,503,415 shares of the company’s stock valued at $70,706,000 after purchasing an additional 1,056,439 shares in the last quarter. Finally, CVA Family Office LLC grew its position in shares of Snap by 166.7% during the 1st quarter. CVA Family Office LLC now owns 1,224 shares of the company’s stock valued at $44,000 after purchasing an additional 765 shares in the last quarter. 53.88% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Snap news, CFO Derek Andersen sold 6,718 shares of the company’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $11.91, for a total value of $80,011.38. Following the sale, the chief financial officer now owns 1,138,505 shares in the company, valued at $13,559,594.55. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Jerry James Hunter sold 41,961 shares of the stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $24.08, for a total transaction of $1,010,420.88. Following the sale, the vice president now owns 707,918 shares in the company, valued at $17,046,665.44. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Derek Andersen sold 6,718 shares of the stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $11.91, for a total transaction of $80,011.38. Following the sale, the chief financial officer now owns 1,138,505 shares in the company, valued at approximately $13,559,594.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,277,886 shares of company stock worth $16,497,106.

Snap Price Performance

Shares of SNAP opened at $9.54 on Tuesday. The stock has a market cap of $15.61 billion, a PE ratio of -18.35 and a beta of 1.02. The company has a debt-to-equity ratio of 1.09, a quick ratio of 5.65 and a current ratio of 5.65. Snap Inc. has a fifty-two week low of $9.34 and a fifty-two week high of $83.34. The firm’s 50-day simple moving average is $13.39 and its two-hundred day simple moving average is $26.00.

Wall Street Analyst Weigh In

SNAP has been the subject of a number of recent analyst reports. Truist Financial lowered shares of Snap from a “buy” rating to a “hold” rating and reduced their price target for the company from $33.00 to $12.00 in a research report on Friday, July 22nd. Canaccord Genuity Group reduced their price target on shares of Snap from $20.00 to $16.00 in a research report on Friday, July 22nd. Cowen reduced their price target on shares of Snap from $17.00 to $10.00 and set a “market perform” rating for the company in a research report on Friday, July 22nd. Guggenheim lowered shares of Snap from a “buy” rating to a “neutral” rating and reduced their price target for the company from $18.00 to $12.00 in a research report on Friday, July 22nd. Finally, Oppenheimer lowered shares of Snap from an “outperform” rating to a “market perform” rating in a research report on Friday, July 22nd. Three research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.69.

Snap Profile

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Snap Inc operates as a camera company in North America, Europe, and internationally. The company offers Snapchat, a camera application with various functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate visually through short videos and images.

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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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