Handelsbanken Fonder AB Sells 326,076 Shares of Snap Inc. (NYSE:SNAP)

Handelsbanken Fonder AB lessened its holdings in Snap Inc. (NYSE:SNAP) by 56.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 251,007 shares of the company’s stock after selling 326,076 shares during the quarter. Handelsbanken Fonder AB’s holdings in Snap were worth $4,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Snap by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company’s stock valued at $818,067,000 after purchasing an additional 1,352,655 shares during the period. Artisan Partners Limited Partnership grew its stake in shares of Snap by 4.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 8,267,765 shares of the company’s stock worth $73,666,000 after acquiring an additional 327,038 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Snap by 6.1% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,301,300 shares of the company’s stock worth $38,325,000 after acquiring an additional 245,555 shares during the period. Northern Trust Corp grew its stake in shares of Snap by 0.3% during the 3rd quarter. Northern Trust Corp now owns 4,091,981 shares of the company’s stock worth $36,460,000 after acquiring an additional 10,583 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Snap by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,213,526 shares of the company’s stock worth $28,633,000 after acquiring an additional 21,937 shares during the period. Institutional investors own 47.52% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SNAP. Stifel Nicolaus cut their price target on Snap from $14.00 to $12.00 and set a “hold” rating for the company in a research note on Tuesday, April 16th. Rosenblatt Securities increased their price target on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. UBS Group dropped their price objective on Snap from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Wells Fargo & Company dropped their price objective on Snap from $22.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, February 7th. Finally, Piper Sandler increased their price objective on Snap from $12.00 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Snap presently has an average rating of “Hold” and a consensus target price of $13.86.

Insider Buying and Selling

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $11.53, for a total transaction of $207,540.00. Following the transaction, the general counsel now directly owns 474,812 shares in the company, valued at approximately $5,474,582.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, General Counsel Michael J. O’sullivan sold 13,000 shares of Snap stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total value of $210,080.00. Following the sale, the general counsel now directly owns 461,005 shares in the company, valued at approximately $7,449,840.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $11.53, for a total value of $207,540.00. Following the completion of the sale, the general counsel now owns 474,812 shares in the company, valued at $5,474,582.36. The disclosure for this sale can be found here. Insiders have sold a total of 470,482 shares of company stock worth $5,284,091 in the last ninety days. 22.68% of the stock is owned by insiders.

Snap Price Performance

Shares of Snap stock opened at $11.40 on Friday. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $18.82 billion, a PE ratio of -13.73 and a beta of 1.13. The business’s 50-day moving average price is $11.20 and its 200-day moving average price is $12.80. Snap Inc. has a 12 month low of $7.86 and a 12 month high of $17.90.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, February 6th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.39 billion. Sell-side analysts forecast that Snap Inc. will post -0.58 EPS for the current fiscal year.

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.