Snap Inc. $SNAP Shares Purchased by Capital International Investors

Capital International Investors increased its holdings in shares of Snap Inc. (NYSE:SNAP) by 0.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,871,060 shares of the company’s stock after acquiring an additional 90,855 shares during the period. Capital International Investors’ holdings in Snap were worth $305,619,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SNAP. Allworth Financial LP grew its holdings in Snap by 92.3% during the third quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock worth $25,000 after acquiring an additional 1,581 shares during the period. Oak Harvest Investment Services acquired a new position in Snap during the fourth quarter worth $26,000. V Square Quantitative Management LLC acquired a new position in Snap during the fourth quarter worth $29,000. EverSource Wealth Advisors LLC grew its holdings in Snap by 561.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock worth $29,000 after acquiring an additional 3,071 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Snap during the third quarter worth $33,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Insider Buying and Selling at Snap

In related news, insider Ajit Mohan sold 44,785 shares of Snap stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.60, for a total transaction of $250,796.00. Following the completion of the sale, the insider owned 5,057,891 shares in the company, valued at approximately $28,324,189.60. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Robert C. Murphy sold 343,945 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $5.88, for a total transaction of $2,022,396.60. Following the completion of the transaction, the chief technology officer directly owned 4,963,581 shares of the company’s stock, valued at $29,185,856.28. The trade was a 6.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 3,021,330 shares of company stock valued at $16,608,998.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SNAP shares. Morgan Stanley dropped their price objective on Snap from $9.50 to $6.50 and set an “equal weight” rating on the stock in a report on Sunday, February 22nd. Loop Capital set a $8.00 target price on Snap in a research report on Monday, February 23rd. Rosenblatt Securities reiterated a “neutral” rating and set a $6.40 target price on shares of Snap in a research report on Thursday, April 16th. Stifel Nicolaus boosted their target price on Snap from $4.50 to $5.25 and gave the stock a “hold” rating in a research report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. decreased their target price on Snap from $7.00 to $6.00 and set an “underweight” rating on the stock in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.91.

Snap Stock Down 0.0%

SNAP opened at $5.76 on Monday. The business’s fifty day moving average is $5.50 and its two-hundred day moving average is $6.24. 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 company has a market cap of $9.72 billion, a price-to-earnings ratio of -23.99 and a beta of 1.03. Snap Inc. has a one year low of $3.81 and a one year high of $10.41.

Snap (NYSE:SNAP) last posted its earnings results on Wednesday, May 6th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.14). The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Snap had a negative return on equity of 18.92% and a negative net margin of 6.72%.The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. Analysts anticipate that Snap Inc. will post -0.06 EPS for the current fiscal year.

Snap Company Profile

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.