Snap Inc. (NYSE:SNAP) Shares Sold by Swiss National Bank

Swiss National Bank cut its stake in shares of Snap Inc. (NYSE:SNAPFree Report) by 9.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,267,900 shares of the company’s stock after selling 326,400 shares during the period. Swiss National Bank’s holdings in Snap were worth $29,117,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Snap by 1.7% during the first quarter. Vanguard Group Inc. now owns 66,340,585 shares of the company’s stock worth $2,387,598,000 after purchasing an additional 1,117,703 shares during the last quarter. SRS Investment Management LLC bought a new stake in Snap during the second quarter worth approximately $623,522,000. Capital World Investors boosted its stake in Snap by 25.7% in the 2nd quarter. Capital World Investors now owns 38,541,836 shares of the company’s stock worth $456,335,000 after purchasing an additional 7,888,448 shares during the period. Wellington Management Group LLP boosted its stake in shares of Snap by 95.8% during the 1st quarter. Wellington Management Group LLP now owns 17,811,242 shares of the company’s stock valued at $641,028,000 after buying an additional 8,712,380 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Snap by 4.2% during the 2nd quarter. Geode Capital Management LLC now owns 9,795,221 shares of the company’s stock valued at $115,710,000 after buying an additional 392,013 shares during the period. 44.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SNAP has been the topic of a number of recent research reports. Roth Mkm raised their price target on shares of Snap from $10.00 to $14.00 and gave the company a “neutral” rating in a report on Friday, January 26th. Piper Sandler boosted their price objective on shares of Snap from $12.00 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. Jefferies Financial Group upgraded shares of Snap from a “hold” rating to a “buy” rating and lifted their target price for the company from $12.00 to $16.00 in a research report on Thursday, November 30th. Stifel Nicolaus boosted their price target on shares of Snap from $10.00 to $14.00 and gave the company a “hold” rating in a research report on Tuesday, January 9th. Finally, China Renaissance upgraded shares of Snap from a “sell” rating to a “hold” rating and set a $9.00 price target on the stock in a research report on Thursday, October 26th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Snap presently has an average rating of “Hold” and a consensus target price of $13.70.

View Our Latest Stock Analysis on SNAP

Snap Price Performance

SNAP opened at $11.11 on Friday. The company’s 50 day moving average is $16.08 and its 200-day moving average is $12.21. Snap Inc. has a 1-year low of $7.86 and a 1-year high of $17.90. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.83 and a current ratio of 4.39.

Insider Buying and Selling

In other Snap news, General Counsel Michael J. O’sullivan sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total transaction of $210,080.00. Following the completion of the transaction, the general counsel now owns 461,005 shares in the company, valued at approximately $7,449,840.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, General Counsel Michael J. O’sullivan sold 35,683 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $11.90, for a total value of $424,627.70. Following the sale, the general counsel now directly owns 1,016,181 shares in the company, valued at approximately $12,092,553.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total value of $210,080.00. Following the completion of the sale, the general counsel now owns 461,005 shares in the company, valued at $7,449,840.80. The disclosure for this sale can be found here. Insiders have sold a total of 276,589 shares of company stock worth $3,796,543 in the last ninety days. Company insiders own 22.68% of the company’s stock.

Snap Profile

(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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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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