Snap Inc. (NYSE:SNAP) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. lessened its holdings in Snap Inc. (NYSE:SNAP - Free Report) by 7.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 371,000 shares of the company's stock after selling 30,800 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Snap were worth $3,231,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Brighton Jones LLC lifted its holdings in shares of Snap by 13.6% in the first quarter. Brighton Jones LLC now owns 34,298 shares of the company's stock valued at $299,000 after purchasing an additional 4,115 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Snap by 2.2% in the first quarter. Exchange Traded Concepts LLC now owns 703,230 shares of the company's stock valued at $6,125,000 after purchasing an additional 15,410 shares in the last quarter. Tobam lifted its stake in shares of Snap by 212.0% during the first quarter. Tobam now owns 201,729 shares of the company's stock valued at $1,757,000 after buying an additional 137,078 shares during the period. Compagnie Lombard Odier SCmA lifted its stake in shares of Snap by 62.6% during the first quarter. Compagnie Lombard Odier SCmA now owns 277,600 shares of the company's stock valued at $2,418,000 after buying an additional 106,926 shares during the period. Finally, Net Worth Advisory Group purchased a new position in shares of Snap during the first quarter valued at approximately $491,000. Hedge funds and other institutional investors own 47.52% of the company's stock.

Snap Stock Down 2.6%

SNAP traded down $0.22 during trading hours on Friday, reaching $8.02. 27,423,639 shares of the stock traded hands, compared to its average volume of 29,705,902. The firm's fifty day simple moving average is $8.32 and its two-hundred day simple moving average is $9.68. The company has a market cap of $13.39 billion, a price-to-earnings ratio of -25.85 and a beta of 0.59. Snap Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $17.33. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.30 and a quick ratio of 4.30.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.12). Snap had a negative net margin of 9.63% and a negative return on equity of 21.53%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the company earned $0.03 earnings per share. The company's revenue was up 14.1% compared to the same quarter last year. As a group, analysts forecast that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Snap

In other news, CFO Derek Andersen sold 208,525 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $9.03, for a total value of $1,882,980.75. Following the transaction, the chief financial officer now directly owns 3,299,372 shares in the company, valued at approximately $29,793,329.16. This trade represents a 5.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Eric Young sold 117,592 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was 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 now owns 3,348,290 shares in the company, valued at approximately $28,761,811.10. The trade was a 3.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,639,601 shares of company stock worth $13,532,151 in the last ninety days. 22.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SNAP has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their price objective 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. Truist Financial reduced their price objective on shares of Snap from $14.00 to $11.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Susquehanna reduced their price objective 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. Loop Capital reduced their price objective on shares of Snap from $16.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Finally, Canaccord Genuity Group reduced their price objective on shares of Snap from $10.00 to $9.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $35.62.

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.