Nuveen Asset Management LLC cut its holdings in shares of Snap Inc. (NYSE:SNAP - Free Report) by 62.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 192,312 shares of the company's stock after selling 320,750 shares during the quarter. Nuveen Asset Management LLC's holdings in Snap were worth $2,071,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of SNAP. Mountain Hill Investment Partners Corp. acquired a new stake in Snap during the 4th quarter worth about $27,000. Comprehensive Financial Planning Inc. PA acquired a new stake in Snap during the 4th quarter worth about $32,000. Osterweis Capital Management Inc. acquired a new stake in Snap during the 4th quarter worth about $43,000. Blue Trust Inc. boosted its position in Snap by 128.0% during the 4th quarter. Blue Trust Inc. now owns 4,370 shares of the company's stock worth $47,000 after acquiring an additional 2,453 shares during the period. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new stake in Snap during the 4th quarter worth about $54,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.
Snap Stock Performance
Shares of SNAP traded up $0.11 on Wednesday, reaching $8.48. 25,324,866 shares of the stock traded hands, compared to its average volume of 29,034,701. The firm has a market cap of $14.17 billion, a price-to-earnings ratio of -20.19 and a beta of 0.61. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. Snap Inc. has a 12 month low of $7.08 and a 12 month high of $17.33. The stock's 50-day moving average price is $8.31 and its 200-day moving average price is $9.97.
Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.12). The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. The business's revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 earnings per share. Equities analysts forecast that Snap Inc. will post -0.3 EPS for the current fiscal year.
Insider Buying and Selling at Snap
In other Snap news, CFO Derek Andersen sold 22,720 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $8.58, for a total value of $194,937.60. Following the sale, the chief financial officer now directly owns 3,541,515 shares in the company, valued at $30,386,198.70. This represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 value of $1,010,115.28. Following the completion of the sale, the senior vice president now owns 3,348,290 shares in the company, valued at $28,761,811.10. This trade represents a 3.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,634,313 shares of company stock worth $22,581,690 over the last three months. Company insiders own 22.68% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently issued reports on SNAP. Stifel Nicolaus reduced their price target on Snap from $11.00 to $8.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. UBS Group reduced their price target on Snap from $14.00 to $9.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Barclays reiterated an "overweight" rating on shares of Snap in a report on Wednesday, February 5th. Wells Fargo & Company reduced their price target on Snap from $9.00 to $8.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. Finally, Rosenblatt Securities reduced their price target on Snap from $12.00 to $9.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $35.62.
Read Our Latest Report on SNAP
About Snap
(
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.
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