National Bank of Canada FI Acquires 4,944 Shares of Snap Inc. (NYSE:SNAP)

National Bank of Canada FI lifted its stake in Snap Inc. (NYSE:SNAP) by 32.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,302 shares of the company’s stock after purchasing an additional 4,944 shares during the period. National Bank of Canada FI’s holdings in Snap were worth $219,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank bought a new position in Snap in the 4th quarter worth about $30,162,000. Arrowstreet Capital Limited Partnership bought a new position in Snap in the fourth quarter worth approximately $21,639,000. Assenagon Asset Management S.A. grew its stake in Snap by 51.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company’s stock worth $33,244,000 after purchasing an additional 1,050,501 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Snap during the 4th quarter valued at $7,614,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Snap by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company’s stock worth $124,742,000 after buying an additional 575,324 shares during the period. 47.52% of the stock is currently owned by institutional investors.

Snap Stock Down 11.3 %

Shares of SNAP opened at $7.83 on Friday. The firm has a market cap of $13.27 billion, a P/E ratio of -18.63 and a beta of 0.92. Snap Inc. has a 12 month low of $7.08 and a 12 month high of $17.33. The stock’s 50 day moving average is $9.55 and its two-hundred day moving average is $10.68. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. Analysts predict that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SNAP shares. Wells Fargo & Company lowered their price objective on shares of Snap from $11.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday, March 31st. Citizens Jmp upgraded shares of Snap from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 28th. Citigroup boosted their price objective on shares of Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Piper Sandler dropped their target price on Snap from $13.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Susquehanna lifted their price target on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Snap presently has a consensus rating of “Hold” and a consensus price target of $36.47.

Insider Buying and Selling

In other Snap news, CFO Derek Andersen sold 61,334 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $664,860.56. Following the transaction, the chief financial officer now directly owns 3,564,235 shares of the company’s stock, valued at $38,636,307.40. This trade represents a 1.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $11.49, for a total value of $206,820.00. Following the completion of the sale, the general counsel now owns 480,498 shares of the company’s stock, valued at $5,520,922.02. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,356,523 shares of company stock worth $12,710,077. 22.68% of the stock is owned by corporate insiders.

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.