Snap Inc. (NYSE:SNAP) Shares Acquired by Tobam

Tobam lifted its stake in shares of Snap Inc. (NYSE:SNAP - Free Report) by 212.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 201,729 shares of the company's stock after acquiring an additional 137,078 shares during the quarter. Tobam's holdings in Snap were worth $1,757,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Capital International Investors purchased a new position in Snap in the fourth quarter valued at $422,049,000. Capital World Investors boosted its position in shares of Snap by 38.9% during the 4th quarter. Capital World Investors now owns 84,137,317 shares of the company's stock worth $906,161,000 after acquiring an additional 23,569,522 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Snap by 121.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 6,848,370 shares of the company's stock valued at $59,649,000 after acquiring an additional 3,761,629 shares during the last quarter. Norges Bank acquired a new stake in shares of Snap during the 4th quarter worth about $30,162,000. Finally, Renaissance Technologies LLC purchased a new stake in Snap during the fourth quarter worth approximately $27,713,000. Hedge funds and other institutional investors own 47.52% of the company's stock.

Snap Price Performance

Shares of SNAP traded down $0.35 during mid-day trading on Friday, hitting $7.95. The company's stock had a trading volume of 37,743,315 shares, compared to its average volume of 29,489,915. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap Inc. has a 1-year low of $7.08 and a 1-year high of $17.33. The firm has a market capitalization of $13.29 billion, a P/E ratio of -18.94 and a beta of 0.59. The firm has a 50-day simple moving average of $8.31 and a 200 day simple moving average of $9.83.

Snap (NYSE:SNAP - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.12). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. The company had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Snap's revenue for the quarter was up 14.1% on a year-over-year basis. Analysts predict that Snap Inc. will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CTO Robert C. Murphy sold 1,000,000 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $8.03, for a total value of $8,030,000.00. Following the completion of the transaction, the chief technology officer now owns 54,517,308 shares in the company, valued at $437,773,983.24. This trade represents a 1.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Derek Andersen sold 208,525 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $9.03, for a total transaction of $1,882,980.75. Following the completion of the sale, the chief financial officer now owns 3,299,372 shares in the company, valued at $29,793,329.16. This represents a 5.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,611,593 shares of company stock valued at $13,346,752. Corporate insiders own 22.68% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Canaccord Genuity Group dropped their price target 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. JMP Securities set a $12.00 target price on shares of Snap in a report on Friday, April 25th. UBS Group cut their price target on shares of Snap from $14.00 to $9.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Morgan Stanley decreased their price objective on shares of Snap from $8.00 to $6.50 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Finally, Bank of America dropped their price objective on Snap from $14.50 to $10.50 and set a "neutral" rating on the stock in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $35.62.

Snap 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.