Snap Inc. (NYSE:SNAP) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp raised its position in Snap Inc. (NYSE:SNAPGet Rating) by 40.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 254,565 shares of the company’s stock after acquiring an additional 73,516 shares during the quarter. Mackenzie Financial Corp’s holdings in Snap were worth $3,342,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of SNAP. Pinebridge Investments L.P. increased its stake in Snap by 407.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,028 shares of the company’s stock valued at $27,000 after buying an additional 1,628 shares during the period. Meeder Asset Management Inc. grew its stake in shares of Snap by 1,189.2% during the 1st quarter. Meeder Asset Management Inc. now owns 838 shares of the company’s stock worth $30,000 after purchasing an additional 773 shares during the period. Truvestments Capital LLC acquired a new position in shares of Snap during the 2nd quarter worth $34,000. MCF Advisors LLC acquired a new position in shares of Snap during the 1st quarter worth $36,000. Finally, Crewe Advisors LLC grew its stake in shares of Snap by 753.9% during the 2nd quarter. Crewe Advisors LLC now owns 2,707 shares of the company’s stock worth $36,000 after purchasing an additional 2,390 shares during the period. 51.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Snap

In other news, CTO Robert C. Murphy sold 900,000 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $7.56, for a total transaction of $6,804,000.00. Following the completion of the sale, the chief technology officer now owns 72,701,841 shares of the company’s stock, valued at $549,625,917.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Evan Spiegel sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $7.54, for a total transaction of $1,885,000.00. Following the completion of the sale, the chief executive officer now owns 4,077,844 shares of the company’s stock, valued at $30,746,943.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Robert C. Murphy sold 900,000 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $7.56, for a total transaction of $6,804,000.00. Following the sale, the chief technology officer now directly owns 72,701,841 shares of the company’s stock, valued at approximately $549,625,917.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,353,030 shares of company stock valued at $10,973,549.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Credit Suisse Group lowered their price target on shares of Snap from $22.00 to $17.00 and set an “outperform” rating on the stock in a research note on Friday, October 21st. Guggenheim lowered their price target on shares of Snap to $8.50 in a research note on Thursday, October 27th. Susquehanna lowered their price target on shares of Snap from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, October 21st. Benchmark lowered their price objective on shares of Snap to $11.00 in a research note on Thursday, October 27th. Finally, Royal Bank of Canada lowered their price objective on shares of Snap from $11.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Friday, October 21st. Three research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Snap presently has a consensus rating of “Hold” and a consensus target price of $14.85.

Snap Stock Performance

Shares of NYSE:SNAP opened at $10.52 on Monday. The company has a quick ratio of 4.86, a current ratio of 4.86 and a debt-to-equity ratio of 1.29. Snap Inc. has a 52-week low of $7.33 and a 52-week high of $54.89. The company has a 50 day moving average of $10.48 and a two-hundred day moving average of $12.84.

Snap (NYSE:SNAPGet Rating) last issued its quarterly earnings data on Thursday, October 20th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.06. Snap had a negative net margin of 24.32% and a negative return on equity of 25.57%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.15 billion. Sell-side analysts predict that Snap Inc. will post -0.63 EPS for the current fiscal year.

About Snap

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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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