Korea Investment CORP Grows Stake in Snap Inc. $SNAP

Key Points

• Korea Investment CORP increased its stake in Snap Inc. by 70.1% in the first quarter, owning approximately 0.05% of the company worth $7.45 million after acquiring additional shares.
• Multiple institutional investors, including Vanguard Group and Deutsche Bank, have increased their stakes in Snap, indicating growing confidence in the stock amidst a competitive financial landscape.
• Snap recently received mixed ratings from analysts, with Zacks downgrading the stock to a "hold" while Evercore ISI and RBC set new target prices at $12.00, contrasting Goldman Sachs' cut to $8.50, suggesting a divided outlook among experts.

Korea Investment CORP raised its stake in Snap Inc. (NYSE:SNAP - Free Report) by 70.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 855,374 shares of the company's stock after acquiring an additional 352,379 shares during the quarter. Korea Investment CORP owned approximately 0.05% of Snap worth $7,450,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Snap by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 109,483,491 shares of the company's stock valued at $953,601,000 after buying an additional 6,921,841 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Snap by 5.5% during the 1st quarter. Deutsche Bank AG now owns 9,526,590 shares of the company's stock valued at $82,977,000 after buying an additional 499,395 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Snap by 13.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,075,318 shares of the company's stock valued at $76,201,000 after buying an additional 828,285 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Snap by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,925,956 shares of the company's stock valued at $60,325,000 after buying an additional 324,784 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Snap by 121.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 6,848,370 shares of the company's stock valued at $59,649,000 after buying an additional 3,761,629 shares in the last quarter. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SNAP has been the topic of a number of recent research reports. Zacks Research cut shares of Snap from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. Evercore ISI increased their target price on shares of Snap from $11.00 to $12.00 and gave the stock an "in-line" rating in a research note on Wednesday, August 6th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $12.00 target price on shares of Snap in a research note on Wednesday, April 30th. The Goldman Sachs Group lowered their target price on shares of Snap from $9.50 to $8.50 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Finally, Citizens Jmp reiterated a "market perform" rating on shares of Snap in a research note on Wednesday, August 6th. Five equities research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $34.16.

Insider Buying and Selling at Snap

In related news, insider Ajit Mohan sold 184,287 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $7.18, for a total transaction of $1,323,180.66. Following the transaction, the insider owned 5,492,006 shares of the company's stock, valued at approximately $39,432,603.08. This trade represents a 3.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Derek Andersen sold 60,966 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $7.17, for a total transaction of $437,126.22. Following the transaction, the chief financial officer directly owned 3,143,452 shares in the company, valued at approximately $22,538,550.84. This represents a 1.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,526,744 shares of company stock worth $11,851,954 in the last quarter. 22.68% of the stock is currently owned by company insiders.

Snap Price Performance

Shares of NYSE:SNAP opened at $7.1850 on Friday. The company's fifty day moving average price is $8.66 and its 200-day moving average price is $8.84. The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of -22.45 and a beta of 0.62. Snap Inc. has a one year low of $6.99 and a one year high of $13.28. The company has a debt-to-equity ratio of 1.73, a current ratio of 3.88 and a quick ratio of 3.88.

Snap (NYSE:SNAP - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($0.16) 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 company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm earned ($0.15) EPS. The firm's quarterly revenue was up 8.7% compared to the same quarter last year. Snap has set its Q3 2025 guidance at EPS. On average, equities research analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Snap Company 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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