Vanguard Group Inc. Has $817.10 Million Holdings in Snap Inc. $SNAP

Key Points

• Vanguard Group increased its stake in Snap to 101,251,557 shares (about 5.89%) in Q4, a position valued at approximately $817.10 million after buying 641,271 additional shares.
• Insiders sold 2,565,573 shares worth $13.33 million in the past three months (including CTO Robert C. Murphy's 1,000,000-share sale), though insiders still own 22.68% of the company.
• Analysts' consensus is a "Hold" with an average target of $7.93; Snap recently missed EPS expectations ($0.03 vs. $0.15) while revenue rose 10.2% to $1.72 billion and the market cap is about $10.63 billion.

Vanguard Group Inc. increased its stake in Snap Inc. (NYSE:SNAP - Free Report) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 101,251,557 shares of the company's stock after purchasing an additional 641,271 shares during the period. Vanguard Group Inc. owned approximately 5.89% of Snap worth $817,100,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Capital World Investors boosted its stake in Snap by 1.5% in the 3rd quarter. Capital World Investors now owns 87,272,463 shares of the company's stock worth $672,896,000 after purchasing an additional 1,316,448 shares during the period. Capital International Investors boosted its stake in Snap by 0.3% in the 3rd quarter. Capital International Investors now owns 37,780,205 shares of the company's stock worth $291,285,000 after purchasing an additional 95,989 shares during the period. Alyeska Investment Group L.P. acquired a new position in Snap in the 3rd quarter worth $176,697,000. Voloridge Investment Management LLC boosted its stake in Snap by 53.3% in the 3rd quarter. Voloridge Investment Management LLC now owns 10,300,911 shares of the company's stock worth $79,420,000 after purchasing an additional 3,582,223 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Snap by 27.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,117,858 shares of the company's stock worth $47,224,000 after purchasing an additional 1,335,830 shares during the period. 47.52% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Ajit Mohan sold 28,058 shares of the firm's stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $6.02, for a total value of $168,909.16. Following the completion of the sale, the insider directly owned 5,102,676 shares in the company, valued at approximately $30,718,109.52. This trade represents a 0.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Robert C. Murphy sold 1,000,000 shares of the firm's stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $5.36, for a total transaction of $5,360,000.00. Following the completion of the sale, the chief technology officer owned 49,313,775 shares of the company's stock, valued at $264,321,834. This trade represents a 1.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,565,573 shares of company stock worth $13,329,781 in the last three months. Insiders own 22.68% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SNAP. Mizuho reduced their target price on shares of Snap from $9.00 to $7.00 and set a "neutral" rating for the company in a research note on Thursday, February 5th. Benchmark initiated coverage on shares of Snap in a research note on Monday, April 27th. They issued a "buy" rating for the company. TD Cowen initiated coverage on shares of Snap in a research note on Monday, April 27th. They set a "buy" rating for the company. Wells Fargo & Company reduced their price objective on shares of Snap from $8.00 to $6.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 7th. Finally, Roth Mkm set a $7.00 price objective on shares of Snap in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $7.93.

Snap Trading Up 3.7%

Snap stock opened at $6.30 on Friday. The firm has a 50-day moving average of $5.07 and a 200-day moving average of $6.62. Snap Inc. has a one year low of $3.81 and a one year high of $10.41. The company has a debt-to-equity ratio of 1.53, a current ratio of 3.56 and a quick ratio of 3.56. The company has a market cap of $10.63 billion, a price-to-earnings ratio of -23.31 and a beta of 1.05.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.12). Snap had a negative return on equity of 20.72% and a negative net margin of 7.76%.The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the prior year, the company earned $0.01 earnings per share. The company's quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts expect that Snap Inc. will post -0.12 earnings per share 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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