Daiwa Securities Group Inc. Has $1.22 Million Holdings in Snap Inc. (NYSE:SNAP)

Daiwa Securities Group Inc. lessened its holdings in shares of Snap Inc. (NYSE:SNAP) by 25.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 72,140 shares of the company’s stock after selling 24,951 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Snap were worth $1,222,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. increased its holdings in Snap by 75.0% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the company’s stock worth $31,000 after purchasing an additional 1,500 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new position in Snap during the 3rd quarter worth about $139,000. HCR Wealth Advisors increased its holdings in Snap by 10.0% during the 3rd quarter. HCR Wealth Advisors now owns 23,162 shares of the company’s stock worth $206,000 after purchasing an additional 2,098 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Snap by 7.6% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 191,542 shares of the company’s stock worth $1,707,000 after purchasing an additional 13,500 shares in the last quarter. Finally, Compass Advisory Group LLC increased its holdings in Snap by 13.2% during the 3rd quarter. Compass Advisory Group LLC now owns 13,678 shares of the company’s stock worth $122,000 after purchasing an additional 1,591 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Trading Up 2.3 %

Snap stock opened at $11.40 on Wednesday. Snap Inc. has a 52 week low of $7.86 and a 52 week high of $17.90. 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 market capitalization of $18.82 billion, a P/E ratio of -13.73 and a beta of 1.13. The stock has a 50-day simple moving average of $11.20 and a 200 day simple moving average of $12.80.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, February 6th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Analysts expect that Snap Inc. will post -0.58 earnings per share for the current year.

Insiders Place Their Bets

In other Snap news, CAO Rebecca Morrow sold 2,442 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $11.00, for a total transaction of $26,862.00. Following the completion of the sale, the chief accounting officer now directly owns 493,084 shares in the company, valued at $5,423,924. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Snap news, CAO Rebecca Morrow sold 2,442 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $11.00, for a total transaction of $26,862.00. Following the completion of the sale, the chief accounting officer now directly owns 493,084 shares in the company, valued at $5,423,924. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total transaction of $210,080.00. Following the sale, the general counsel now owns 461,005 shares of the company’s stock, valued at $7,449,840.80. The disclosure for this sale can be found here. Insiders sold 470,482 shares of company stock worth $5,284,091 over the last three months.

Analyst Upgrades and Downgrades

SNAP has been the subject of a number of research reports. The Goldman Sachs Group lowered their target price on Snap from $15.00 to $13.50 and set a “neutral” rating for the company in a report on Thursday, February 8th. Susquehanna increased their target price on Snap from $9.50 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. Morgan Stanley decreased their price objective on Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a report on Wednesday, February 7th. Stifel Nicolaus decreased their price objective on Snap from $14.00 to $12.00 and set a “hold” rating for the company in a report on Tuesday, April 16th. Finally, UBS Group decreased their price objective on Snap from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, April 16th. Three investment 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.