Snap Inc. (NYSE:SNAP) Shares Sold by Swiss National Bank

Swiss National Bank lowered its stake in shares of Snap Inc. (NYSE:SNAP) by 3.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,977,500 shares of the company’s stock after selling 120,700 shares during the period. Swiss National Bank’s holdings in Snap were worth $32,068,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Citizens Financial Group Inc. RI boosted its position in shares of Snap by 182.5% in the 4th quarter. Citizens Financial Group Inc. RI now owns 30,602 shares of the company’s stock worth $330,000 after buying an additional 19,769 shares in the last quarter. Independent Advisor Alliance grew its stake in Snap by 19.4% in the 4th quarter. Independent Advisor Alliance now owns 20,105 shares of the company’s stock worth $217,000 after acquiring an additional 3,267 shares during the period. Inceptionr LLC purchased a new stake in shares of Snap in the fourth quarter valued at $145,000. Raymond James Financial Inc. acquired a new position in shares of Snap during the 4th quarter valued at about $3,291,000. Finally, Arizona State Retirement System increased its position in Snap by 2.7% during the fourth quarter. Arizona State Retirement System now owns 306,137 shares of the company’s stock worth $3,297,000 after purchasing an additional 8,133 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Insider Buying and Selling

In other news, CFO Derek Andersen sold 17,789 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $12.00, for a total value of $213,468.00. Following the transaction, the chief financial officer now owns 2,176,017 shares of the company’s stock, valued at approximately $26,112,204. This trade represents a 0.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the sale, the chief technology officer now directly owns 55,818,548 shares of the company’s stock, valued at $504,599,673.92. This represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,295,231 shares of company stock worth $12,272,639 in the last three months. Insiders own 22.68% of the company’s stock.

Snap Trading Up 4.2 %

Shares of Snap stock opened at $9.01 on Tuesday. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.33. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. The company has a market cap of $15.28 billion, a price-to-earnings ratio of -21.44 and a beta of 0.92. The company’s fifty day simple moving average is $10.71 and its 200-day simple moving average is $10.80.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. As a group, sell-side analysts expect that Snap Inc. will post -0.3 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. JMP Securities restated a “market outperform” rating and set a $16.00 price target on shares of Snap in a research note on Monday, January 27th. Citizens Jmp downgraded shares of Snap from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Susquehanna upped their target price on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Guggenheim cut shares of Snap from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 11th. Finally, Barclays restated an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $36.87.

Snap 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.