Vontobel Holding Ltd. Has $15.01 Million Position in Snap Inc. (NYSE:SNAP)

Vontobel Holding Ltd. cut its holdings in shares of Snap Inc. (NYSE:SNAP) by 16.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 886,560 shares of the company’s stock after selling 174,671 shares during the quarter. Vontobel Holding Ltd. owned about 0.05% of Snap worth $15,009,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in Snap by 1.5% in the third quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company’s stock valued at $818,067,000 after acquiring an additional 1,352,655 shares during the period. Wellington Management Group LLP grew its position in Snap by 95.8% in the first quarter. Wellington Management Group LLP now owns 17,811,242 shares of the company’s stock valued at $641,028,000 after acquiring an additional 8,712,380 shares during the period. Artisan Partners Limited Partnership grew its position in Snap by 4.1% in the third quarter. Artisan Partners Limited Partnership now owns 8,267,765 shares of the company’s stock valued at $73,666,000 after acquiring an additional 327,038 shares during the period. Capital International Investors grew its position in Snap by 96.8% in the first quarter. Capital International Investors now owns 5,263,312 shares of the company’s stock valued at $189,427,000 after acquiring an additional 2,588,200 shares during the period. Finally, Northern Trust Corp grew its position in Snap by 0.7% in the first quarter. Northern Trust Corp now owns 4,464,919 shares of the company’s stock valued at $160,693,000 after acquiring an additional 31,671 shares during the period. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SNAP shares. Rosenblatt Securities increased their target price on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft upgraded Snap from a “hold” rating to a “buy” rating and increased their target price for the stock from $10.00 to $19.00 in a report on Friday, January 26th. Royal Bank of Canada decreased their target price on Snap from $17.00 to $13.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 7th. Morgan Stanley decreased their target price on Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a report on Wednesday, February 7th. Finally, Wells Fargo & Company cut their price target on Snap from $22.00 to $16.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $13.70.

Insider Buying and Selling

In other Snap news, CAO Rebecca Morrow sold 9,386 shares of Snap stock in a transaction on Friday, February 16th. The stock was sold at an average price of $11.14, for a total value of $104,560.04. Following the completion of the transaction, the chief accounting officer now directly owns 495,526 shares of the company’s stock, valued at approximately $5,520,159.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Rebecca Morrow sold 9,386 shares of Snap stock in a transaction on Friday, February 16th. The stock was sold at an average price of $11.14, for a total value of $104,560.04. Following the transaction, the chief accounting officer now owns 495,526 shares in the company, valued at approximately $5,520,159.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Evan Spiegel sold 150,000 shares of Snap stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $11.11, for a total value of $1,666,500.00. Following the completion of the transaction, the chief executive officer now owns 3,627,844 shares in the company, valued at approximately $40,305,346.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 470,054 shares of company stock valued at $5,279,729.

Snap Stock Down 4.7 %

NYSE:SNAP opened at $10.34 on Tuesday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 4.39. The stock has a 50-day simple moving average of $11.35 and a 200 day simple moving average of $12.72. The company has a market cap of $17.06 billion, a PE ratio of -12.45 and a beta of 1.13. Snap Inc. has a 52-week low of $7.86 and a 52-week high of $17.90.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, February 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. On average, sell-side analysts expect that Snap Inc. will post -0.58 EPS for the current fiscal year.

Snap Profile

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.