Mercer Global Advisors Inc. ADV Sells 9,161 Shares of Snap Inc. (NYSE:SNAP)

Mercer Global Advisors Inc. ADV trimmed its stake in Snap Inc. (NYSE:SNAP – Get Rating) by 24.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 28,812 shares of the company’s stock after selling 9,161 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Snap were worth $258,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Snap by 21.6% during the 3rd quarter. Vanguard Group Inc. now owns 90,476,082 shares of the company’s stock worth $888,475,000 after acquiring an additional 16,046,220 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Snap by 95.8% in the first quarter. Wellington Management Group LLP now owns 17,811,242 shares of the company’s stock worth $641,028,000 after acquiring an additional 8,712,380 shares during the period. Two Sigma Advisers LP increased its stake in shares of Snap by 55.7% in the third quarter. Two Sigma Advisers LP now owns 21,895,177 shares of the company’s stock worth $215,011,000 after acquiring an additional 7,831,100 shares during the period. Two Sigma Investments LP boosted its holdings in Snap by 51.5% during the third quarter. Two Sigma Investments LP now owns 16,139,726 shares of the company’s stock worth $158,492,000 after buying an additional 5,485,640 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Snap during the first quarter worth $104,868,000. 43.30% of the stock is owned by hedge funds and other institutional investors.

Snap Trading Down 0.2 %

NYSE SNAP opened at $9.78 on Friday. Snap Inc. has a one year low of $7.33 and a one year high of $16.55. The company’s 50 day moving average price is $10.02 and its 200 day moving average price is $10.05. The company has a debt-to-equity ratio of 1.45, a quick ratio of 4.71 and a current ratio of 4.71.

Snap (NYSE:SNAP – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.04. The firm had revenue of $988.61 million for the quarter, compared to analyst estimates of $1.01 billion. Snap had a negative net margin of 30.89% and a negative return on equity of 33.79%. As a group, equities research analysts forecast that Snap Inc. will post -0.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Barclays decreased their price objective on shares of Snap from $15.00 to $11.00 in a report on Friday, April 28th. Piper Sandler decreased their price objective on shares of Snap from $9.00 to $8.00 in a report on Friday, April 28th. Credit Suisse Group decreased their price target on shares of Snap from $13.00 to $11.00 in a research note on Friday, April 28th. Canaccord Genuity Group decreased their price target on shares of Snap from $12.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, February 1st. Finally, The Goldman Sachs Group cut their price objective on shares of Snap from $8.00 to $7.00 in a research report on Friday, April 28th. Three equities research analysts have rated the stock with a sell rating, thirty have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $10.82.

Insider Activity

In other news, COO Jerry James Hunter sold 69,753 shares of Snap stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $10.95, for a total transaction of $763,795.35. Following the sale, the chief operating officer now owns 4,869,447 shares in the company, valued at $53,320,444.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Rebecca Morrow sold 5,617 shares of Snap stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $10.69, for a total transaction of $60,045.73. Following the sale, the chief accounting officer now directly owns 252,497 shares in the company, valued at $2,699,192.93. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jerry James Hunter sold 69,753 shares of Snap stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $10.95, for a total transaction of $763,795.35. Following the sale, the chief operating officer now owns 4,869,447 shares in the company, valued at $53,320,444.65. The disclosure for this sale can be found here. Insiders have sold 372,012 shares of company stock worth $3,536,695 over the last 90 days. Company insiders own 22.68% of the company’s stock.

Snap Company Profile

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Snap, Inc operates as a camera company. Its flagship product, Snapchat, is a camera application that helps people communicate visually with friends and family through short videos and images called Snaps. The firm’s primary source of revenue is advertising. Snap was founded by Frank Reginald Brown IV, Evan Thomas Spiegel, and Robert C.