UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 828,285 Shares of Snap Inc. (NYSE:SNAP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Snap Inc. (NYSE:SNAP - Free Report) by 13.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,075,318 shares of the company's stock after acquiring an additional 828,285 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.42% of Snap worth $76,201,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Capital World Investors grew its holdings in Snap by 38.9% during the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company's stock worth $906,161,000 after buying an additional 23,569,522 shares in the last quarter. SRS Investment Management LLC boosted its stake in shares of Snap by 1.4% in the 4th quarter. SRS Investment Management LLC now owns 73,723,115 shares of the company's stock worth $793,998,000 after buying an additional 1,001,632 shares during the last quarter. Capital International Investors bought a new position in shares of Snap in the fourth quarter valued at approximately $422,049,000. Geode Capital Management LLC increased its position in shares of Snap by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 11,831,472 shares of the company's stock valued at $127,078,000 after acquiring an additional 134,017 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Snap by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company's stock worth $71,095,000 after acquiring an additional 389,812 shares during the period. Institutional investors and hedge funds own 47.52% of the company's stock.

Snap Price Performance

Shares of Snap stock traded up $0.19 on Tuesday, hitting $8.42. 23,531,877 shares of the company traded hands, compared to its average volume of 28,902,614. The firm's 50-day simple moving average is $8.42 and its 200 day simple moving average is $10.07. Snap Inc. has a 12-month low of $7.08 and a 12-month high of $17.33. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. The company has a market cap of $14.07 billion, a P/E ratio of -20.05 and a beta of 0.61.

Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.12). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the firm posted $0.03 earnings per share. The company's revenue was up 14.1% compared to the same quarter last year. Analysts expect that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Susquehanna reduced their price objective on Snap from $13.00 to $8.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Citigroup decreased their price objective on shares of Snap from $9.00 to $8.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Wells Fargo & Company dropped their target price on shares of Snap from $9.00 to $8.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Morgan Stanley reduced their target price on shares of Snap from $8.00 to $6.50 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group decreased their price target on shares of Snap from $9.50 to $8.50 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, twenty-three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $35.62.

Insider Buying and Selling

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the transaction, the chief technology officer now owns 55,818,548 shares in the company, valued at $504,599,673.92. The trade was a 1.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Derek Andersen sold 61,068 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $8.60, for a total value of $525,184.80. Following the transaction, the chief financial officer now directly owns 3,238,304 shares of the company's stock, valued at $27,849,414.40. The trade was a 1.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,586,313 shares of company stock worth $22,190,490 in the last ninety days. 22.68% of the stock is owned by insiders.

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.