Snap Inc. (NYSE:SNAP) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. decreased its stake in shares of Snap Inc. (NYSE:SNAP) by 3.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,168,007 shares of the company’s stock after selling 133,293 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.25% of Snap worth $70,564,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. ICA Group Wealth Management LLC purchased a new stake in shares of Snap in the 4th quarter valued at $29,000. Newbridge Financial Services Group Inc. boosted its holdings in shares of Snap by 75.0% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the company’s stock valued at $31,000 after acquiring an additional 1,500 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Snap by 161.6% in the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after acquiring an additional 1,708 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Snap by 365.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,941 shares of the company’s stock valued at $47,000 after acquiring an additional 3,094 shares during the last quarter. Finally, Sunbelt Securities Inc. purchased a new stake in shares of Snap in the 1st quarter valued at $49,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Trading Up 4.7 %

Shares of SNAP stock opened at $10.90 on Thursday. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.39 and a quick ratio of 4.39. The firm has a market cap of $17.99 billion, a PE ratio of -13.13 and a beta of 1.13. The company has a 50-day moving average of $11.19 and a two-hundred day moving average of $12.71. Snap Inc. has a 1-year low of $7.86 and a 1-year high of $17.90.

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

Insiders Place Their Bets

In other Snap news, CFO Derek Andersen sold 96,953 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $10.99, for a total transaction of $1,065,513.47. Following the completion of the transaction, the chief financial officer now owns 2,534,689 shares of the company’s stock, valued at $27,856,232.11. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Rebecca Morrow sold 9,386 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were 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 owns 495,526 shares of the company’s stock, valued at $5,520,159.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Derek Andersen sold 96,953 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $10.99, for a total transaction of $1,065,513.47. Following the completion of the transaction, 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 a total of 470,054 shares of company stock valued at $5,279,729 over the last 90 days. 22.68% of the stock is owned by company insiders.

Analyst Ratings Changes

SNAP has been the topic of several recent research reports. BMO Capital Markets dropped their price objective on shares of Snap from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft raised shares of Snap from a “hold” rating to a “buy” rating and increased their price target for the stock from $10.00 to $19.00 in a report on Friday, January 26th. Stifel Nicolaus lowered their price target on shares of Snap from $14.00 to $12.00 and set a “hold” rating on the stock in a report on Tuesday. Truist Financial increased their price target on shares of Snap from $11.00 to $12.00 and gave the stock a “hold” rating in a report on Wednesday, February 7th. Finally, The Goldman Sachs Group lowered their price target on shares of Snap from $15.00 to $13.50 and set a “neutral” rating on the stock in a report on Thursday, February 8th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Snap presently has an average rating of “Hold” and a consensus price target of $13.86.

Snap Company 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.