Snap Inc. $SNAP Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management increased its stake in Snap Inc. by 114.4% in Q2, owning 189,547 shares valued at approximately $1.65 million.
• Snap's stock is currently down 3.2%, with a market capitalization of $13.81 billion, a PE ratio of -25.53, and a 52-week price range between $6.90 and $13.28.
• Despite a challenging market, Snap's revenue rose 8.7% year-over-year to $1.34 billion, with analysts expecting an EPS of -0.3 for the current fiscal year.

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Snap Inc. (NYSE:SNAP - Free Report) by 114.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 189,547 shares of the company's stock after buying an additional 101,126 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Snap were worth $1,647,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. NBC Securities Inc. grew its holdings 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 last quarter. Rakuten Securities Inc. grew its stake in Snap by 155.4% in the 1st quarter. Rakuten Securities Inc. now owns 3,489 shares of the company's stock worth $30,000 after acquiring an additional 2,123 shares in the last quarter. Quarry LP bought a new position in Snap in the 1st quarter worth about $34,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Snap in the 1st quarter worth approximately $35,000. Finally, Wealth Preservation Advisors LLC purchased a new stake in shares of Snap in the 1st quarter worth approximately $44,000. 47.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, General Counsel Michael J. O'sullivan sold 14,290 shares of Snap stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $7.58, for a total value of $108,318.20. Following the sale, the general counsel owned 1,939,064 shares in the company, valued at $14,698,105.12. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Elizabeth Jenkins sold 7,900 shares of Snap stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $7.07, for a total transaction of $55,853.00. Following the completion of the sale, the director owned 65,663 shares in the company, valued at approximately $464,237.41. This trade represents a 10.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,510,532 shares of company stock valued at $11,650,269.

Analyst Ratings Changes

Several brokerages have recently weighed in on SNAP. Bank of America lowered their price target on shares of Snap from $10.00 to $9.50 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. TD Cowen upped their price target on shares of Snap from $9.00 to $10.00 and gave the stock a "hold" rating in a research report on Tuesday, July 15th. Evercore ISI upped their price target on shares of Snap from $11.00 to $12.00 and gave the stock an "in-line" rating in a research report on Wednesday, August 6th. Zacks Research cut shares of Snap from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Finally, Citizens Jmp reaffirmed a "market perform" rating on shares of Snap in a research report on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $35.84.

Snap Stock Up 4.6%

SNAP stock traded up $0.38 during midday trading on Monday, hitting $8.54. 219,197,906 shares of the stock traded hands, compared to its average volume of 97,965,448. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 1.73. The stock's fifty day simple moving average is $8.11 and its 200-day simple moving average is $8.38. Snap Inc. has a 1-year low of $6.90 and a 1-year high of $13.28.

Snap (NYSE:SNAP - Get Free Report) last released its quarterly 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 business earned ($0.15) earnings per share. The firm's revenue was up 8.7% on a year-over-year basis. Snap has set its Q3 2025 guidance at EPS. As a group, 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.