Ilmarinen Mutual Pension Insurance Co Purchases New Position in Snap Inc. $SNAP

Key Points

• Ilmarinen Mutual Pension Insurance Co has acquired a new position in Snap Inc., purchasing 165,000 shares valued at approximately $1.4 million in the first quarter.
• Snap's stock opened at $7.07, with a market capitalization of $11.94 billion and a significant drop of 3.0% on the trading day.
• In a recent earnings report, Snap posted a quarterly revenue of $1.34 billion, maintaining the consensus estimate, despite a negative earnings per share of ($0.16).

Ilmarinen Mutual Pension Insurance Co acquired a new position in Snap Inc. (NYSE:SNAP - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 165,000 shares of the company's stock, valued at approximately $1,437,000.

A number of other large investors have also recently made changes to their positions in the business. Wealthcare Advisory Partners LLC bought a new position in shares of Snap during the first quarter valued at approximately $122,000. NBC Securities Inc. increased its position in Snap by 154,650.0% during 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. Ameriprise Financial Inc. raised its holdings in Snap by 2.4% in the 4th quarter. Ameriprise Financial Inc. now owns 157,118 shares of the company's stock worth $1,692,000 after purchasing an additional 3,710 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Snap by 12.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 26,841 shares of the company's stock worth $234,000 after purchasing an additional 2,918 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Snap by 19.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,115 shares of the company's stock valued at $184,000 after purchasing an additional 2,792 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors.

Snap Trading Down 3.0%

Snap stock opened at $7.07 on Thursday. Snap Inc. has a 12 month low of $6.90 and a 12 month high of $13.28. The company has a market capitalization of $11.94 billion, a price-to-earnings ratio of -22.08 and a beta of 0.62. The business's fifty day simple moving average is $8.33 and its two-hundred day simple moving average is $8.52. 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 posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.16). The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. Snap had a negative return on equity of 23.32% and a negative net margin of 9.69%.Snap's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.15) EPS. Snap has set its Q3 2025 guidance at EPS. As a group, equities analysts predict that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Activity

In other Snap news, CFO Derek Andersen sold 60,966 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $7.17, for a total transaction of $437,126.22. Following the sale, the chief financial officer directly owned 3,143,452 shares in the company, valued at approximately $22,538,550.84. This trade represents a 1.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Rebecca Morrow sold 10,216 shares of Snap stock in a transaction on Monday, August 18th. The stock was sold at an average price of $7.17, for a total value of $73,248.72. Following the completion of the sale, the chief accounting officer directly owned 436,087 shares of the company's stock, valued at approximately $3,126,743.79. The trade was a 2.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, 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.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Morgan Stanley raised their price objective on shares of Snap from $6.50 to $8.50 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Citizens Jmp restated a "market perform" rating on shares of Snap in a research note on Wednesday, August 6th. Evercore ISI upped their price target on Snap from $11.00 to $12.00 and gave the stock an "in-line" rating in a research note on Wednesday, August 6th. Zacks Research lowered Snap from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Finally, Bank of America dropped their target price on shares of Snap from $10.00 to $9.50 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Five analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $34.16.

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.

Want to see what other hedge funds are holding SNAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snap Inc. (NYSE:SNAP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.