Snap Inc. $SNAP Position Trimmed by Handelsbanken Fonder AB

Handelsbanken Fonder AB lessened its holdings in shares of Snap Inc. (NYSE:SNAP) by 42.4% during the 4th quarter, HoldingsChannel reports. The fund owned 291,200 shares of the company’s stock after selling 213,995 shares during the period. Handelsbanken Fonder AB’s holdings in Snap were worth $2,350,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allworth Financial LP grew its stake in shares of Snap by 92.3% in the 3rd quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock valued at $25,000 after buying an additional 1,581 shares in the last quarter. Oak Harvest Investment Services bought a new stake in shares of Snap in the 4th quarter valued at approximately $26,000. V Square Quantitative Management LLC bought a new stake in shares of Snap in the 4th quarter valued at approximately $29,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Snap in the 3rd quarter valued at approximately $33,000. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Snap in the 3rd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Insider Transactions at Snap

In related news, insider Ajit Mohan sold 44,785 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $5.60, for a total value of $250,796.00. Following the completion of the sale, the insider directly owned 5,057,891 shares in the company, valued at approximately $28,324,189.60. The trade was a 0.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Robert C. Murphy sold 2,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $5.44, for a total value of $10,880,000.00. Following the completion of the sale, the chief technology officer owned 47,012,324 shares of the company’s stock, valued at approximately $255,747,042.56. This trade represents a 4.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 2,665,427 shares of company stock worth $14,514,853. 22.68% of the stock is currently owned by company insiders.

Snap Stock Down 0.1%

SNAP opened at $5.72 on Monday. The business has a 50 day moving average price of $5.25 and a 200 day moving average price of $6.41. Snap Inc. has a twelve month low of $3.81 and a twelve month high of $10.41. The company has a debt-to-equity ratio of 1.67, a quick ratio of 3.53 and a current ratio of 3.53. The firm has a market cap of $9.65 billion, a P/E ratio of -23.81 and a beta of 1.05.

Snap (NYSE:SNAP) last posted its earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.14). Snap had a negative return on equity of 18.92% and a negative net margin of 6.72%.The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the firm posted ($0.08) earnings per share. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. Research analysts forecast that Snap Inc. will post -0.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SNAP shares. Morgan Stanley lowered their price target on Snap from $9.50 to $6.50 and set an “equal weight” rating for the company in a research note on Sunday, February 22nd. Rothschild & Co Redburn raised Snap from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Monday, April 27th. UBS Group set a $8.00 price target on Snap in a research note on Thursday, May 7th. Rosenblatt Securities reissued a “neutral” rating and issued a $6.40 price target on shares of Snap in a research note on Thursday, April 16th. Finally, Wells Fargo & Company boosted their price target on Snap from $6.00 to $7.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty-two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Snap presently has a consensus rating of “Hold” and an average price target of $7.91.

About Snap

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.