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Deutsche Bank AG Grows Holdings in Snap Inc. (NYSE:SNAP)

Snap logo with Computer and Technology background

Key Points

  • Deutsche Bank AG increased its stake in Snap Inc. by 5.5% during Q1, owning approximately 0.56% of the company with a total value of $82.98 million after acquiring an additional 499,395 shares.
  • Analyst ratings for Snap have fluctuated, with Citigroup downgrading it to a "negative" rating, while Wells Fargo raised its price target from $8.00 to $11.00, resulting in a consensus rating of "Hold" and a target price of $34.16.
  • Snap reported quarterly earnings of ($0.16) per share, matching analysts' expectations, and showed an 8.7% increase in revenue year-over-year, totaling $1.34 billion.
  • Looking to export and analyze Snap data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Deutsche Bank AG boosted its position in shares of Snap Inc. (NYSE:SNAP - Free Report) by 5.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,526,590 shares of the company's stock after purchasing an additional 499,395 shares during the period. Deutsche Bank AG owned approximately 0.56% of Snap worth $82,977,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SNAP. NBC Securities Inc. raised its stake in Snap by 154,650.0% during the first quarter. NBC Securities Inc. now owns 3,095 shares of the company's stock worth $26,000 after purchasing an additional 3,093 shares during the period. Raiffeisen Bank International AG purchased a new stake in shares of Snap in the 4th quarter valued at approximately $30,000. Rakuten Securities Inc. raised its stake in shares of Snap by 155.4% in the 1st quarter. Rakuten Securities Inc. now owns 3,489 shares of the company's stock valued at $30,000 after acquiring an additional 2,123 shares during the period. Osterweis Capital Management Inc. purchased a new stake in shares of Snap in the 4th quarter valued at approximately $43,000. Finally, Olde Wealth Management LLC purchased a new stake in shares of Snap in the 1st quarter valued at approximately $52,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CTO Robert C. Murphy sold 1,000,000 shares of the company's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $7.80, for a total value of $7,800,000.00. Following the completion of the transaction, the chief technology officer owned 53,215,224 shares in the company, valued at approximately $415,078,747.20. This represents a 1.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Eric Young sold 117,592 shares of the company's stock in a transaction on Friday, May 16th. The shares were 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 owned 3,348,290 shares of the company's stock, valued at approximately $28,761,811.10. The trade was a 3.39% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,667,802 shares of company stock worth $13,613,801.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Sanford C. Bernstein boosted their price target on shares of Snap from $9.00 to $10.00 and gave the company a "market perform" rating in a research note on Tuesday, July 22nd. Stifel Nicolaus reduced their price target on shares of Snap from $11.00 to $8.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Susquehanna reduced their price target on shares of Snap from $13.00 to $8.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Piper Sandler reduced 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. Finally, UBS Group reduced 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. Two investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Snap presently has a consensus rating of "Hold" and an average price target of $34.16.

Get Our Latest Report on Snap

Snap Stock Up 1.0%

NYSE SNAP traded up $0.07 on Tuesday, hitting $7.26. 36,522,450 shares of the stock were exchanged, compared to its average volume of 51,830,012. The company has a 50-day moving average price of $8.85 and a 200-day moving average price of $9.05. Snap Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $13.28. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 1.73. The company has a market cap of $12.13 billion, a PE ratio of -22.69 and a beta of 0.62.

Snap (NYSE:SNAP - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.16). Snap had a negative net margin of 9.69% and a negative return on equity of 23.32%. The business had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same quarter in the prior year, the business posted ($0.15) EPS. The company's revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts anticipate that Snap Inc. will post -0.3 EPS for the current fiscal year.

Snap Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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