Sumitomo Mitsui Trust Group Inc. Sells 50,188 Shares of Snap Inc. (NYSE:SNAP)

Sumitomo Mitsui Trust Group Inc. decreased its position in Snap Inc. (NYSE:SNAP - Free Report) by 1.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 3,194,940 shares of the company's stock after selling 50,188 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.19% of Snap worth $27,828,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Captrust Financial Advisors lifted its position in Snap by 8.0% during the 4th quarter. Captrust Financial Advisors now owns 13,918 shares of the company's stock worth $150,000 after buying an additional 1,030 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Snap by 1.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 61,365 shares of the company's stock worth $661,000 after acquiring an additional 1,033 shares in the last quarter. Trajan Wealth LLC boosted its position in Snap by 5.9% during the fourth quarter. Trajan Wealth LLC now owns 20,191 shares of the company's stock valued at $217,000 after purchasing an additional 1,132 shares during the last quarter. AssuredPartners Investment Advisors LLC grew its stake in Snap by 6.3% in the first quarter. AssuredPartners Investment Advisors LLC now owns 22,128 shares of the company's stock valued at $193,000 after purchasing an additional 1,306 shares in the last quarter. Finally, TRUE Private Wealth Advisors increased its position in shares of Snap by 2.9% during the 4th quarter. TRUE Private Wealth Advisors now owns 53,466 shares of the company's stock worth $576,000 after purchasing an additional 1,525 shares during the last quarter. Institutional investors and hedge funds own 47.52% of the company's stock.

Snap Trading Up 0.4%

Shares of SNAP opened at $9.39 on Thursday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.30 and a current ratio of 4.30. Snap Inc. has a 52-week low of $7.08 and a 52-week high of $17.33. The firm has a market cap of $15.69 billion, a price-to-earnings ratio of -30.29 and a beta of 0.59. The business's fifty day moving average is $8.44 and its 200-day moving average is $9.50.

Snap (NYSE:SNAP - Get Free Report) last released its earnings results 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 business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Snap had a negative net margin of 9.63% and a negative return on equity of 21.53%. The business's revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 EPS. Equities analysts anticipate that Snap Inc. will post -0.3 EPS for the current fiscal year.

Insider Activity

In other news, CAO Rebecca Morrow sold 9,202 shares of Snap stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $8.59, for a total transaction of $79,045.18. Following the sale, the chief accounting officer directly owned 448,881 shares of the company's stock, valued at approximately $3,855,887.79. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Derek Andersen sold 33,886 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $8.04, for a total value of $272,443.44. Following the sale, the chief financial officer owned 3,204,418 shares in the company, valued at approximately $25,763,520.72. This trade represents a 1.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,639,601 shares of company stock valued at $13,534,791. 22.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SNAP has been the subject of several analyst reports. Canaccord Genuity Group decreased their target price on shares of Snap from $10.00 to $9.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. BMO Capital Markets decreased their price objective on shares of Snap from $16.00 to $13.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Morgan Stanley dropped their target price on shares of Snap from $8.00 to $6.50 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Bank of America reduced their price target on Snap from $14.50 to $10.50 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Finally, Guggenheim restated a "neutral" rating on shares of Snap in a research note on Wednesday, April 2nd. One research 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $35.74.

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.

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