Canada Pension Plan Investment Board Invests $17.32 Million in Snap Inc. (NYSE:SNAP)

Canada Pension Plan Investment Board purchased a new stake in shares of Snap Inc. (NYSE:SNAP - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 1,608,479 shares of the company's stock, valued at approximately $17,323,000. Canada Pension Plan Investment Board owned approximately 0.10% of Snap at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNAP. MML Investors Services LLC grew its stake in shares of Snap by 6.8% during the third quarter. MML Investors Services LLC now owns 25,245 shares of the company's stock valued at $270,000 after acquiring an additional 1,614 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in Snap by 37.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 82,143 shares of the company's stock worth $938,000 after purchasing an additional 22,328 shares during the last quarter. Everence Capital Management Inc. acquired a new position in shares of Snap in the 4th quarter valued at approximately $437,000. FNY Investment Advisers LLC raised its position in shares of Snap by 1,756.8% in the 4th quarter. FNY Investment Advisers LLC now owns 13,740 shares of the company's stock valued at $147,000 after purchasing an additional 13,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Snap by 51.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company's stock valued at $33,244,000 after buying an additional 1,050,501 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company's stock.

Insider Transactions at Snap

In other news, SVP Eric Young sold 102,152 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $1,107,327.68. Following the transaction, the senior vice president now owns 3,443,419 shares of the company's stock, valued at approximately $37,326,661.96. This represents a 2.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $9.04, for a total value 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. The trade was a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,356,523 shares of company stock valued at $12,710,077 in the last three months. Corporate insiders own 22.68% of the company's stock.

Snap Stock Up 2.3 %

NYSE SNAP traded up $0.19 during trading on Friday, reaching $8.52. 32,795,993 shares of the company's stock were exchanged, compared to its average volume of 27,892,358. The company's fifty day simple moving average is $8.90 and its 200-day simple moving average is $10.48. 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 firm has a market capitalization of $14.45 billion, a PE ratio of -20.29 and a beta of 0.92. Snap Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $17.33.

Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings data 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 net margin of 13.02% and a negative return on equity of 25.67%. Sell-side analysts predict that Snap Inc. will post -0.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SNAP. Citigroup cut their price target on shares of Snap from $13.50 to $9.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company reduced their price target on shares of Snap from $11.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Monday, March 31st. BMO Capital Markets reissued an "outperform" rating and issued a $16.00 price objective (down from $18.00) on shares of Snap in a report on Wednesday, January 15th. The Goldman Sachs Group reduced their target price on Snap from $13.50 to $9.50 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Susquehanna lifted their target price on Snap from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twenty-four have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $35.49.

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.