Legal & General Group Plc Cuts Holdings in Snap Inc. $SNAP

Legal & General Group Plc reduced its position in Snap Inc. (NYSE:SNAP) by 4.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,219,346 shares of the company’s stock after selling 213,220 shares during the period. Legal & General Group Plc’s holdings in Snap were worth $36,666,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SNAP. Sumitomo Mitsui Trust Group Inc. increased its stake in Snap by 31.7% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,208,697 shares of the company’s stock worth $36,574,000 after acquiring an additional 1,013,757 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Snap during the 2nd quarter valued at approximately $2,723,000. Arkadios Wealth Advisors purchased a new position in shares of Snap in the second quarter valued at $1,256,000. Vanguard Group Inc. increased its position in Snap by 6.7% in the first quarter. Vanguard Group Inc. now owns 109,483,491 shares of the company’s stock worth $953,601,000 after purchasing an additional 6,921,841 shares during the last quarter. Finally, Quinn Opportunity Partners LLC increased its position in Snap by 71.2% in the second quarter. Quinn Opportunity Partners LLC now owns 949,560 shares of the company’s stock worth $8,252,000 after purchasing an additional 395,000 shares during the last quarter. 47.52% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $8.00, for a total transaction of $8,000,000.00. Following the completion of the sale, the chief technology officer directly owned 51,911,126 shares of the company’s stock, valued at approximately $415,289,008. The trade was a 1.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael J. O’sullivan sold 70,882 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $8.34, for a total transaction of $591,155.88. Following the completion of the transaction, the general counsel owned 1,854,982 shares in the company, valued at approximately $15,470,549.88. The trade was a 3.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,450,728 shares of company stock worth $11,630,420 in the last 90 days. 22.68% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on SNAP shares. Piper Sandler increased their price objective on shares of Snap from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Citizens Jmp reaffirmed a “market perform” rating on shares of Snap in a report on Wednesday, August 6th. UBS Group lifted their price target on Snap from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Bank of America decreased their price objective on Snap from $10.00 to $9.50 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Finally, Mizuho assumed coverage on Snap in a research note on Monday, September 29th. They issued a “neutral” rating and a $9.00 price objective for the company. Four research analysts have rated the stock with a Buy rating, twenty-five have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $35.06.

Snap Stock Performance

Shares of NYSE:SNAP opened at $7.60 on Thursday. The company has a current ratio of 3.67, a quick ratio of 3.67 and a debt-to-equity ratio of 1.57. Snap Inc. has a 12 month low of $6.90 and a 12 month high of $13.28. The company has a market capitalization of $13.06 billion, a price-to-earnings ratio of -26.19 and a beta of 0.89. The firm’s 50-day moving average is $8.06 and its 200 day moving average is $8.24.

Snap (NYSE:SNAP) last announced its earnings results on Wednesday, November 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.12). The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Snap had a negative net margin of 8.60% and a negative return on equity of 21.61%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.09) EPS. Snap has set its Q4 2025 guidance at EPS. Research analysts predict that Snap Inc. will post -0.3 EPS for the current year.

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.