Capital World Investors Buys 1,179,543 Shares of Snap Inc. $SNAP

Capital World Investors increased its stake in shares of Snap Inc. (NYSE:SNAP - Free Report) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 88,452,006 shares of the company's stock after acquiring an additional 1,179,543 shares during the quarter. Capital World Investors owned about 5.14% of Snap worth $713,808,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP increased its position in Snap by 92.3% during the third quarter. Allworth Financial LP now owns 3,293 shares of the company's stock worth $25,000 after acquiring an additional 1,581 shares during the period. V Square Quantitative Management LLC bought a new position in Snap during the fourth quarter worth $29,000. EverSource Wealth Advisors LLC increased its position in Snap by 561.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company's stock worth $29,000 after acquiring an additional 3,071 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Snap during the third quarter worth $33,000. Finally, Banque Cantonale Vaudoise bought a new position in Snap during the third quarter worth $39,000. Institutional investors own 47.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SNAP. HSBC lowered shares of Snap from a "hold" rating to a "hold" rating in a research report on Monday, April 27th. Tigress Financial began coverage on shares of Snap in a research report on Monday, April 27th. They set a "buy" rating on the stock. Wells Fargo & Company boosted their target price on shares of Snap from $6.00 to $7.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 7th. Royal Bank Of Canada lowered their price target on shares of Snap from $10.00 to $8.00 and set a "sector perform" rating on the stock in a report on Thursday, May 7th. Finally, Stifel Nicolaus boosted their price target on shares of Snap from $4.50 to $5.25 and gave the company a "hold" rating in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty-two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $7.91.

Snap Trading Down 0.0%

Shares of Snap stock opened at $5.76 on Monday. The firm has a market capitalization of $9.72 billion, a PE ratio of -23.99 and a beta of 1.03. The company has a debt-to-equity ratio of 1.67, a current ratio of 3.53 and a quick ratio of 3.53. The company's fifty day moving average price is $5.50 and its two-hundred day moving average price is $6.24. Snap Inc. has a 52-week low of $3.81 and a 52-week high of $10.41.

Snap (NYSE:SNAP - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.14). Snap had a negative net margin of 6.72% and a negative return on equity of 18.92%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the firm posted ($0.08) EPS. The firm's revenue for the quarter was up 12.2% on a year-over-year basis. On average, analysts expect that Snap Inc. will post -0.06 EPS for the current year.

Insider Buying and Selling

In related news, insider Ajit Mohan sold 44,785 shares of the company's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.60, for a total transaction of $250,796.00. Following the transaction, the insider owned 5,057,891 shares in the company, valued at $28,324,189.60. This represents a 0.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Zachary M. Briers sold 11,958 shares of the company's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $6.00, for a total transaction of $71,748.00. Following the transaction, the general counsel owned 2,560,835 shares in the company, valued at approximately $15,365,010. This trade represents a 0.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,021,330 shares of company stock worth $16,608,998 in the last three months.

Snap Profile

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.

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