Snap Inc. $SNAP Stock Position Trimmed by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its position in shares of Snap Inc. (NYSE:SNAP - Free Report) by 18.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,409,596 shares of the company's stock after selling 554,903 shares during the period. Hsbc Holdings PLC owned 0.14% of Snap worth $19,477,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Allworth Financial LP raised its holdings in shares of Snap by 92.3% during the third quarter. Allworth Financial LP now owns 3,293 shares of the company's stock valued at $25,000 after buying an additional 1,581 shares during the last quarter. Oak Harvest Investment Services bought a new position in Snap in the 4th quarter worth approximately $26,000. Arax Advisory Partners increased its position in Snap by 220.0% in the 4th quarter. Arax Advisory Partners now owns 3,309 shares of the company's stock valued at $27,000 after acquiring an additional 2,275 shares during the period. V Square Quantitative Management LLC acquired a new stake in Snap in the 4th quarter valued at approximately $29,000. Finally, EverSource Wealth Advisors LLC raised its stake in Snap by 561.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company's stock valued at $29,000 after acquiring an additional 3,071 shares in the last quarter. Institutional investors own 47.52% of the company's stock.

Insider Activity at Snap

In related news, CTO Robert C. Murphy sold 2,000,000 shares of the business's stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $5.44, for a total value of $10,880,000.00. Following the sale, the chief technology officer directly owned 47,012,324 shares in the company, valued at $255,747,042.56. The trade was a 4.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ajit Mohan sold 44,785 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.60, for a total transaction of $250,796.00. Following the sale, the insider directly owned 5,057,891 shares of the company's stock, valued at approximately $28,324,189.60. This represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 2,907,554 shares of company stock worth $16,093,619. Company insiders own 22.68% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on SNAP shares. TD Cowen initiated coverage on Snap in a research report on Monday, April 27th. They set a "buy" rating for the company. Sanford C. Bernstein cut shares of Snap from a "market perform" rating to a "market perform" rating in a research note on Monday, April 27th. BMO Capital Markets upped their price objective on shares of Snap from $13.00 to $15.00 and gave the stock an "outperform" rating in a report on Wednesday, April 15th. Stifel Nicolaus increased their target price on shares of Snap from $4.50 to $5.25 and gave the company a "hold" rating in a research report on Tuesday, April 21st. Finally, Citigroup reiterated a "market perform" rating on shares of Snap in a research report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twenty-three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Snap has an average rating of "Hold" and a consensus target price of $7.79.

Snap Trading Up 1.8%

Shares of Snap stock opened at $4.54 on Thursday. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.67. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of -18.92 and a beta of 1.03. The business has a fifty day simple moving average of $5.61 and a 200-day simple moving average of $5.99. Snap Inc. has a fifty-two week low of $3.81 and a fifty-two week high of $10.41.

Snap (NYSE:SNAP - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.14). Snap had a negative net margin of 6.72% and a negative return on equity of 18.92%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the business earned ($0.08) EPS. The company's quarterly revenue was up 12.2% compared to the same quarter last year. On average, equities analysts forecast that Snap Inc. will post -0.06 EPS for the current fiscal year.

Snap Profile

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.

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