Assenagon Asset Management S.A. Sells 41,489 Shares of Snap Inc. (NYSE:SNAP)

Assenagon Asset Management S.A. lowered its position in Snap Inc. (NYSE:SNAPFree Report) by 2.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,365,369 shares of the company’s stock after selling 41,489 shares during the period. Assenagon Asset Management S.A. owned 0.08% of Snap worth $23,116,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Snap by 7.4% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,440 shares of the company’s stock worth $176,000 after acquiring an additional 930 shares in the last quarter. Impax Asset Management Group plc raised its stake in shares of Snap by 4.5% in the third quarter. Impax Asset Management Group plc now owns 23,434 shares of the company’s stock worth $209,000 after purchasing an additional 1,017 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Snap by 7.1% in the third quarter. Principal Financial Group Inc. now owns 15,373 shares of the company’s stock worth $137,000 after purchasing an additional 1,025 shares during the last quarter. Fund Management at Engine No. 1 LLC raised its stake in shares of Snap by 8.8% in the second quarter. Fund Management at Engine No. 1 LLC now owns 12,966 shares of the company’s stock worth $154,000 after purchasing an additional 1,052 shares during the last quarter. Finally, Ethic Inc. raised its stake in shares of Snap by 13.5% in the first quarter. Ethic Inc. now owns 9,184 shares of the company’s stock worth $331,000 after purchasing an additional 1,089 shares during the last quarter. Institutional investors own 47.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Jefferies Financial Group raised Snap from a “hold” rating to a “buy” rating and increased their price objective for the stock from $12.00 to $16.00 in a research note on Thursday, November 30th. The Goldman Sachs Group lowered their price objective on Snap from $15.00 to $13.50 and set a “neutral” rating for the company in a research note on Thursday, February 8th. Truist Financial increased their price objective on Snap from $11.00 to $12.00 and gave the stock a “hold” rating in a research note on Wednesday, February 7th. Rosenblatt Securities increased their price target on Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. Finally, Morgan Stanley decreased their price target on Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research report on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Snap currently has a consensus rating of “Hold” and an average price target of $13.70.

Read Our Latest Analysis on Snap

Insider Transactions at Snap

In other news, CAO Rebecca Morrow sold 2,442 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $11.00, for a total value of $26,862.00. Following the completion of the transaction, the chief accounting officer now directly owns 493,084 shares of the company’s stock, valued at $5,423,924. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Rebecca Morrow sold 2,442 shares of Snap stock in a transaction on Monday, March 18th. The stock was sold at an average price of $11.00, for a total transaction of $26,862.00. Following the completion of the sale, the chief accounting officer now owns 493,084 shares of the company’s stock, valued at $5,423,924. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Derek Andersen sold 96,953 shares of Snap stock in a transaction on Monday, March 18th. The shares were sold at an average price of $10.99, for a total value of $1,065,513.47. Following the sale, the chief financial officer now directly owns 2,534,689 shares of the company’s stock, valued at approximately $27,856,232.11. The disclosure for this sale can be found here. Insiders sold 452,462 shares of company stock valued at $5,078,538 over the last three months.

Snap Stock Up 0.4 %

NYSE:SNAP opened at $11.31 on Wednesday. Snap Inc. has a 1 year low of $7.86 and a 1 year high of $17.90. The business has a fifty day simple moving average of $12.81 and a two-hundred day simple moving average of $12.50. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.39 and a quick ratio of 4.39.

Snap (NYSE:SNAPGet Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.39 billion. On average, analysts anticipate that Snap Inc. will post -0.58 earnings per share for the current year.

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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