Caisse DE Depot ET Placement DU Quebec Purchases Shares of 967,532 Snap Inc. (NYSE:SNAP)

Caisse DE Depot ET Placement DU Quebec acquired a new stake in Snap Inc. (NYSE:SNAP - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 967,532 shares of the company's stock, valued at approximately $10,420,000. Caisse DE Depot ET Placement DU Quebec owned about 0.06% of Snap at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Capital International Investors acquired a new stake in shares of Snap during the 4th quarter worth about $422,049,000. Capital World Investors lifted its holdings in shares of Snap by 38.9% in the 4th quarter. Capital World Investors now owns 84,137,317 shares of the company's stock worth $906,161,000 after acquiring an additional 23,569,522 shares during the last quarter. Norges Bank purchased a new position in shares of Snap during the 4th quarter worth approximately $30,162,000. Renaissance Technologies LLC acquired a new stake in Snap in the 4th quarter valued at approximately $27,713,000. Finally, Portolan Capital Management LLC acquired a new position in Snap during the fourth quarter worth $25,447,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the completion of the sale, the chief technology officer now directly owns 55,818,548 shares in the company, valued at $504,599,673.92. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Rebecca Morrow sold 8,837 shares of the business'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 transaction of $95,793.08. Following the completion of the transaction, the chief accounting officer now directly owns 429,892 shares of the company's stock, valued at approximately $4,660,029.28. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,362,523 shares of company stock worth $20,719,017. Company insiders own 22.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SNAP shares. JMP Securities set a $12.00 price objective on Snap in a research note on Friday, April 25th. Bank of America cut their price target on shares of Snap from $14.50 to $10.50 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Barclays reissued an "overweight" rating on shares of Snap in a research note on Wednesday, February 5th. Citizens Jmp upgraded shares of Snap from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 28th. Finally, Wells Fargo & Company reduced their price objective on Snap from $9.00 to $8.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, twenty-three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Snap presently has a consensus rating of "Hold" and a consensus price target of $35.50.

Snap Stock Performance

Shares of NYSE SNAP traded up $0.05 during mid-day trading on Friday, hitting $8.27. 18,252,712 shares of the company were exchanged, compared to its average volume of 28,505,787. The stock has a 50 day simple moving average of $8.55 and a 200-day simple moving average of $10.33. Snap Inc. has a 1-year low of $7.08 and a 1-year high of $17.33. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The firm has a market cap of $14.03 billion, a price-to-earnings ratio of -19.69 and a beta of 0.61.

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

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.