Snap Inc. $SNAP Stock Sold by Vontobel Holding Ltd.

Key Points

• Vontobel Holding cut its Snap stake by 42.6% in the third quarter, selling 180,186 shares and retaining 242,967 shares valued at approximately $1.31 million. Institutional investors collectively own 47.52% of Snap.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $7.68. Ratings include 1 Strong Buy, 10 Buys, 23 Holds and 2 Sells.
• Snap reported better-than-expected quarterly results, including an adjusted loss of $0.10 per share versus estimates of $0.12 and revenue of $1.60 billion, up 18.9% year over year. Company insiders sold 2.45 million shares worth about $13.4 million over the last 90 days.

Vontobel Holding Ltd. lessened its stake in Snap Inc. (NYSE:SNAP - Free Report) by 42.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 242,967 shares of the company's stock after selling 180,186 shares during the period. Vontobel Holding Ltd.'s holdings in Snap were worth $1,312,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NFSG Corp lifted its stake in Snap by 58.0% during the third quarter. NFSG Corp now owns 16,356 shares of the company's stock worth $88,000 after purchasing an additional 6,001 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Snap by 278.5% in the third quarter. Assenagon Asset Management S.A. now owns 14,771,533 shares of the company's stock valued at $79,766,000 after buying an additional 10,868,392 shares in the last quarter. Curated Wealth Partners LLC grew its stake in shares of Snap by 540.0% in the third quarter. Curated Wealth Partners LLC now owns 544,828 shares of the company's stock valued at $2,942,000 after buying an additional 459,704 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Snap in the third quarter valued at $282,000. Finally, Krilogy Financial LLC raised its holdings in shares of Snap by 13.8% in the 3rd quarter. Krilogy Financial LLC now owns 27,789 shares of the company's stock valued at $150,000 after buying an additional 3,371 shares during the period. Hedge funds and other institutional investors own 47.52% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on SNAP. BMO Capital Markets reiterated an "outperform" rating on shares of Snap in a research note on Tuesday, August 4th. Barclays increased their price target on Snap from $15.00 to $16.00 and gave the company an "overweight" rating in a research report on Tuesday, August 4th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $8.00 price objective on shares of Snap in a research note on Thursday, September 17th. Freedom Capital upgraded Snap from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 4th. Finally, Benchmark reissued a "hold" rating on shares of Snap in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty-three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $7.68.

Insider Buying and Selling at Snap

In related news, CTO Robert Murphy sold 2,000,000 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $5.55, for a total value of $11,100,000.00. Following the transaction, the chief technology officer directly owned 41,809,791 shares of the company's stock, valued at $232,044,340.05. This trade represents a 4.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Douglas Hott sold 131,884 shares of Snap stock in a transaction on Monday, August 17th. The stock was sold at an average price of $5.20, for a total transaction of $685,796.80. Following the sale, the chief financial officer owned 2,324,563 shares in the company, valued at $12,087,727.60. This represents a 5.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 2,445,926 shares of company stock worth $13,426,930.

Snap Stock Performance

SNAP stock opened at $6.29 on Tuesday. The business has a 50 day moving average price of $5.61 and a 200 day moving average price of $5.36. The company has a debt-to-equity ratio of 1.75, a quick ratio of 2.94 and a current ratio of 2.94. Snap Inc. has a fifty-two week low of $3.81 and a fifty-two week high of $9.13.

Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. Snap had a negative net margin of 4.90% and a negative return on equity of 14.61%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the firm posted ($0.16) earnings per share. The firm's revenue was up 18.9% on a year-over-year basis. As a group, research analysts predict that Snap Inc. will post -0.02 EPS for the current fiscal year.

About Snap

Snap Inc is a technology and social media company best known for Snapchat, a visual messaging and social networking application. Snapchat enables users to communicate through photos, videos, messages and Stories, while offering creative tools such as augmented reality (AR) Lenses and filters. The platform also includes features such as Snap Map, Spotlight and content from publishers and creators.

Snap generates most of its revenue from digital advertising, including video, augmented reality and other advertising formats delivered across Snapchat.

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