Snap Inc. (NYSE:SNAP) Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp reduced its holdings in Snap Inc. (NYSE:SNAP) by 26.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 123,248 shares of the company’s stock after selling 43,397 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Snap were worth $1,327,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SNAP. Mountain Hill Investment Partners Corp. acquired a new stake in Snap in the 4th quarter valued at approximately $27,000. Comprehensive Financial Planning Inc. PA bought a new position in Snap during the 4th quarter valued at $32,000. Osterweis Capital Management Inc. bought a new position in Snap during the 4th quarter valued at $43,000. Blue Trust Inc. boosted its stake in Snap by 128.0% during the 4th quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock valued at $47,000 after purchasing an additional 2,453 shares in the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new position in Snap during the 4th quarter valued at $54,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Snap news, CFO Derek Andersen sold 61,334 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $664,860.56. Following the transaction, the chief financial officer now directly owns 3,564,235 shares in the company, valued at $38,636,307.40. This trade represents a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Rebecca Morrow sold 8,837 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $95,793.08. Following the transaction, the chief accounting officer now owns 429,892 shares in the company, valued at approximately $4,660,029.28. This trade represents a 2.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,632,116 shares of company stock worth $23,127,182. Corporate insiders own 22.68% of the company’s stock.

Snap Stock Performance

Shares of Snap stock opened at $8.74 on Friday. The stock has a market cap of $14.60 billion, a PE ratio of -20.81 and a beta of 0.61. The business has a fifty day simple moving average of $8.48 and a 200-day simple moving average of $10.27. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap Inc. has a 12 month low of $7.08 and a 12 month high of $17.33.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, April 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.12). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the prior year, the business posted $0.03 earnings per share. Snap’s revenue was up 14.1% on a year-over-year basis. On average, sell-side analysts anticipate that Snap Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SNAP shares. Bank of America decreased their price target on Snap from $14.50 to $10.50 and set a “neutral” rating for the company in a research note on Wednesday, April 9th. Barclays reaffirmed an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. Canaccord Genuity Group decreased their price target on Snap from $10.00 to $9.00 and set a “hold” rating for the company in a research note on Wednesday, April 30th. UBS Group decreased their price target on Snap from $14.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Finally, Citigroup decreased their price target on Snap from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Snap currently has an average rating of “Hold” and a consensus target price of $35.62.

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.