Lansforsakringar Fondforvaltning AB publ Purchases Shares of 356,325 Snap Inc. (NYSE:SNAP)

Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Snap Inc. (NYSE:SNAP - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 356,325 shares of the company's stock, valued at approximately $3,838,000.

Several other institutional investors have also modified their holdings of the company. Capital World Investors boosted its stake in shares of Snap by 38.9% during 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 in the last quarter. SRS Investment Management LLC lifted its stake in Snap by 1.4% in the 4th quarter. SRS Investment Management LLC now owns 73,723,115 shares of the company's stock valued at $793,998,000 after buying an additional 1,001,632 shares in the last quarter. Capital International Investors purchased a new position in shares of Snap during the 4th quarter worth $422,049,000. Geode Capital Management LLC lifted its stake in shares of Snap by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 11,831,472 shares of the company's stock worth $127,078,000 after purchasing an additional 134,017 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Snap by 13.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,075,318 shares of the company's stock worth $76,201,000 after purchasing an additional 828,285 shares during the period. Hedge funds and other institutional investors own 47.52% of the company's stock.

Snap Stock Down 0.4%

NYSE:SNAP traded down $0.03 on Friday, reaching $8.25. The stock had a trading volume of 27,186,866 shares, compared to its average volume of 29,014,191. 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 company has a 50-day moving average of $8.35 and a 200 day moving average of $10.01. The stock has a market cap of $13.79 billion, a P/E ratio of -19.64 and a beta of 0.61. Snap Inc. has a 12-month low of $7.08 and a 12-month high of $17.33.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates 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 business's quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 earnings per share. On average, research analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling at Snap

In other Snap news, General Counsel Michael J. O'sullivan sold 14,183 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $8.83, for a total value of $125,235.89. Following the transaction, the general counsel now owns 2,256,101 shares of the company's stock, valued at $19,921,371.83. This trade represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Eric Young sold 117,592 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $8.59, for a total transaction of $1,010,115.28. Following the completion of the transaction, the senior vice president now directly owns 3,348,290 shares in the company, valued at $28,761,811.10. This represents a 3.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,586,313 shares of company stock valued at $22,190,490 in the last ninety days. Insiders own 22.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SNAP. Cantor Fitzgerald set a $7.00 price objective on Snap and gave the stock a "neutral" rating in a report on Wednesday, April 30th. UBS Group dropped their price objective on Snap from $14.00 to $9.00 and set a "neutral" rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. dropped their price objective on Snap from $10.00 to $8.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. Canaccord Genuity Group dropped their price objective on Snap from $10.00 to $9.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Finally, Truist Financial dropped their price objective on Snap from $14.00 to $11.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. One 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $35.62.

About Snap

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.