Canada Pension Plan Investment Board Lowers Position in Snap Inc. $SNAP

Key Points

• The Canada Pension Plan Investment Board significantly reduced its stake in Snap Inc., selling 1,115,400 shares and holding only 493,079 shares, representing a 69.3% cut in its position.
• Snap reported revenues of $1.34 billion for the last quarter, consistent with analysts' expectations, despite posting a net loss of ($0.16) EPS.
• Institutional investors currently own 47.52% of Snap's stock, highlighting ongoing interest despite the company's struggles, as evidenced by multiple shares bought by firms like Vanguard and Deutsche Bank.

Canada Pension Plan Investment Board cut its holdings in Snap Inc. (NYSE:SNAP - Free Report) by 69.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 493,079 shares of the company's stock after selling 1,115,400 shares during the quarter. Canada Pension Plan Investment Board's holdings in Snap were worth $4,295,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SNAP. State of Wyoming grew its holdings in shares of Snap by 486.3% during the first quarter. State of Wyoming now owns 33,343 shares of the company's stock valued at $290,000 after buying an additional 27,656 shares during the last quarter. Trexquant Investment LP grew its holdings in shares of Snap by 67.0% during the first quarter. Trexquant Investment LP now owns 1,944,231 shares of the company's stock valued at $16,934,000 after buying an additional 779,945 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Snap during the first quarter valued at approximately $35,000. Landscape Capital Management L.L.C. grew its holdings in shares of Snap by 4.2% during the first quarter. Landscape Capital Management L.L.C. now owns 181,838 shares of the company's stock valued at $1,584,000 after buying an additional 7,343 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ grew its holdings in shares of Snap by 1.7% during the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 362,533 shares of the company's stock valued at $3,158,000 after buying an additional 6,208 shares during the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Snap news, General Counsel Michael J. O'sullivan sold 68,705 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $7.18, for a total value of $493,301.90. Following the completion of the transaction, the general counsel directly owned 2,015,624 shares in the company, valued at $14,472,180.32. This represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $7.80, for a total transaction of $7,800,000.00. Following the completion of the transaction, the chief technology officer owned 53,215,224 shares of the company's stock, valued at approximately $415,078,747.20. The trade was a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,510,644 shares of company stock valued at $11,688,447. Company insiders own 22.68% of the company's stock.

Snap Price Performance

NYSE:SNAP traded up $0.22 during trading hours on Friday, hitting $7.31. 102,038,263 shares of the stock traded hands, compared to its average volume of 54,320,768. The company has a market cap of $12.34 billion, a price-to-earnings ratio of -22.83 and a beta of 0.62. Snap Inc. has a 1 year low of $6.90 and a 1 year high of $13.28. The stock has a 50 day moving average price of $8.45 and a 200 day moving average price of $8.57. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 1.73.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.16) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.16). The business had revenue of $1.34 billion during 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 business posted ($0.15) earnings per share. Snap has set its Q3 2025 guidance at EPS. Sell-side analysts forecast that Snap Inc. will post -0.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SNAP shares. UBS Group cut their price target on shares of Snap from $10.00 to $9.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Citizens Jmp reiterated a "market perform" rating on shares of Snap in a research note on Wednesday, August 6th. Guggenheim reiterated a "neutral" rating on shares of Snap in a research note on Wednesday. Piper Sandler reduced their price target on shares of Snap from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Finally, Bank of America reduced their price target on shares of Snap from $10.00 to $9.50 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Snap currently has an average rating of "Hold" and an average target price 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.