SG Americas Securities LLC Sells 1,294,657 Shares of Snap Inc. (NYSE:SNAP)

SG Americas Securities LLC cut its holdings in Snap Inc. (NYSE:SNAPGet Rating) by 98.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,587 shares of the company’s stock after selling 1,294,657 shares during the period. SG Americas Securities LLC’s holdings in Snap were worth $597,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SNAP. Vestmark Advisory Solutions Inc. grew its holdings in Snap by 37.7% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 11,576 shares of the company’s stock valued at $544,000 after purchasing an additional 3,171 shares during the period. Illinois Municipal Retirement Fund grew its holdings in Snap by 32.5% during the fourth quarter. Illinois Municipal Retirement Fund now owns 18,278 shares of the company’s stock valued at $860,000 after purchasing an additional 4,483 shares during the period. D.A. Davidson & CO. grew its holdings in Snap by 6.4% during the fourth quarter. D.A. Davidson & CO. now owns 15,873 shares of the company’s stock valued at $747,000 after purchasing an additional 957 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Snap by 12.7% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 206,130 shares of the company’s stock valued at $9,694,000 after purchasing an additional 23,225 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Snap by 75.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 376,553 shares of the company’s stock valued at $17,709,000 after purchasing an additional 162,541 shares during the period. 53.88% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Snap news, CTO Robert C. Murphy sold 900,000 shares of Snap stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $9.80, for a total transaction of $8,820,000.00. Following the sale, the chief technology officer now directly owns 73,869,215 shares of the company’s stock, valued at approximately $723,918,307. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Snap news, CTO Robert C. Murphy sold 900,000 shares of Snap stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $9.80, for a total transaction of $8,820,000.00. Following the sale, the chief technology officer now directly owns 73,869,215 shares of the company’s stock, valued at approximately $723,918,307. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Derek Andersen sold 26,093 shares of Snap stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $23.87, for a total value of $622,839.91. Following the sale, the chief financial officer now directly owns 1,145,223 shares in the company, valued at $27,336,473.01. The disclosure for this sale can be found here. Insiders have sold 1,277,886 shares of company stock valued at $16,497,106 over the last ninety days.

Analyst Upgrades and Downgrades

SNAP has been the subject of several research reports. Barclays reduced their price objective on Snap from $20.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, July 22nd. The Goldman Sachs Group lowered Snap from a “buy” rating to a “neutral” rating and cut their price target for the stock from $25.00 to $12.00 in a report on Wednesday. Argus lowered Snap from a “buy” rating to a “hold” rating in a report on Monday, July 25th. Susquehanna cut their price target on Snap from $14.00 to $11.00 in a report on Friday, July 22nd. Finally, Wells Fargo & Company lowered Snap from an “overweight” rating to an “equal weight” rating in a report on Friday, July 22nd. Three investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.69.

Snap Stock Up 4.6 %

NYSE SNAP opened at $10.32 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 5.65 and a quick ratio of 5.65. The stock has a market capitalization of $17.02 billion, a PE ratio of -19.85 and a beta of 1.01. Snap Inc. has a 1 year low of $9.34 and a 1 year high of $83.34. The business’s 50-day moving average is $13.25 and its 200 day moving average is $25.78.

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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