BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 52,873 Shares of Snap Inc. $SNAP

Key Points

• BNP Paribas Asset Management has reduced its holdings in Snap Inc. by 46.5%, now owning 60,886 shares after selling 52,873 shares during the 1st quarter of the year.
• Recent insider activity includes Snap's CFO, Derek Andersen, selling 33,886 shares for approximately $272,443, decreasing his ownership by 1.05%.
• Snap's stock has shown fluctuations with a market cap of $12.40 billion, and the latest earnings report indicated the company had a negative net margin of 9.69%.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its position in Snap Inc. (NYSE:SNAP - Free Report) by 46.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 60,886 shares of the company's stock after selling 52,873 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in Snap were worth $531,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SNAP. Raiffeisen Bank International AG bought a new stake in shares of Snap in the fourth quarter worth about $30,000. NBC Securities Inc. grew its position in shares of Snap by 154,650.0% in the 1st quarter. NBC Securities Inc. now owns 3,095 shares of the company's stock valued at $26,000 after purchasing an additional 3,093 shares during the period. Rakuten Securities Inc. increased its stake in Snap by 155.4% during the 1st quarter. Rakuten Securities Inc. now owns 3,489 shares of the company's stock worth $30,000 after purchasing an additional 2,123 shares in the last quarter. State of Wyoming acquired a new stake in Snap during the 4th quarter worth approximately $61,000. Finally, Olde Wealth Management LLC acquired a new stake in Snap during the 1st quarter worth approximately $52,000. Institutional investors own 47.52% of the company's stock.

Insider Activity at Snap

In other news, CFO Derek Andersen sold 33,886 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $8.04, for a total transaction of $272,443.44. Following the transaction, the chief financial officer owned 3,204,418 shares in the company, valued at approximately $25,763,520.72. This trade represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Michael J. O'sullivan sold 24,000 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $9.57, for a total value of $229,680.00. Following the completion of the sale, the general counsel owned 486,984 shares of the company's stock, valued at $4,660,436.88. This trade represents a 4.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,202,570 shares of company stock valued at $9,525,096 in the last 90 days.

Snap Stock Up 2.7%

SNAP opened at $7.34 on Tuesday. The stock's fifty day simple moving average is $8.76 and its 200 day simple moving average is $8.92. Snap Inc. has a 1-year low of $7.06 and a 1-year high of $13.28. The stock has a market cap of $12.40 billion, a PE ratio of -22.94 and a beta of 0.62. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 1.73.

Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.16) earnings per share for the quarter, meeting the consensus estimate of ($0.16). The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.34 billion. Snap had a negative net margin of 9.69% and a negative return on equity of 23.32%. The company's revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.15) earnings per share. As a group, research analysts expect that Snap Inc. will post -0.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Piper Sandler cut their price target on shares of Snap from $10.00 to $9.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Canaccord Genuity Group reduced their target price on shares of Snap from $10.00 to $9.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Evercore ISI lifted their price target on Snap from $11.00 to $12.00 and gave the company an "in-line" rating in a research note on Wednesday, August 6th. TD Cowen upped their price objective on Snap from $9.00 to $10.00 and gave the stock a "hold" rating in a research report on Tuesday, July 15th. Finally, Loop Capital dropped their target price on Snap from $16.00 to $12.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Two analysts have rated the stock with a sell rating, twenty-two have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $34.16.

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.

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