Marshall Wace LLP cut its stake in Snap Inc. (NYSE:SNAP - Free Report) by 94.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,447,307 shares of the company's stock after selling 25,318,408 shares during the period. Marshall Wace LLP owned about 0.09% of Snap worth $15,587,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of SNAP. Charles Schwab Investment Management Inc. grew its stake in Snap by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company's stock worth $71,095,000 after buying an additional 389,812 shares during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in Snap during the 4th quarter worth approximately $289,000. Bank of New York Mellon Corp increased its holdings in Snap by 2.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,538,111 shares of the company's stock valued at $16,565,000 after purchasing an additional 29,526 shares in the last quarter. Empowered Funds LLC raised its position in Snap by 3.1% in the 4th quarter. Empowered Funds LLC now owns 35,639 shares of the company's stock valued at $384,000 after purchasing an additional 1,055 shares during the last quarter. Finally, Sei Investments Co. acquired a new position in Snap in the fourth quarter worth $158,000. Institutional investors and hedge funds own 47.52% of the company's stock.
Wall Street Analyst Weigh In
SNAP has been the subject of a number of research reports. Citizens Jmp upgraded Snap from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 28th. Piper Sandler dropped their target price on shares of Snap from $13.00 to $10.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. decreased their price target on shares of Snap from $10.00 to $8.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company reduced their price objective on Snap from $11.00 to $9.00 and set an "equal weight" rating on the stock in a report on Monday, March 31st. Finally, Citigroup lowered their target price on Snap from $13.50 to $9.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Snap has an average rating of "Hold" and a consensus target price of $35.49.
Read Our Latest Analysis on Snap
Snap Price Performance
NYSE:SNAP traded up $0.19 during trading hours on Friday, hitting $8.52. The company's stock had a trading volume of 32,795,993 shares, compared to its average volume of 27,892,358. The stock has a fifty day simple moving average of $8.90 and a 200-day simple moving average of $10.48. Snap Inc. has a twelve month low of $7.08 and a twelve month high of $17.33. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. The company has a market capitalization of $14.45 billion, a P/E ratio of -20.29 and a beta of 0.92.
Snap (NYSE:SNAP - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. On average, analysts anticipate that Snap Inc. will post -0.3 EPS for the current fiscal year.
Insider Transactions at Snap
In other Snap news, CAO Rebecca Morrow sold 8,837 shares of Snap stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $95,793.08. Following the transaction, the chief accounting officer now directly owns 429,892 shares of the company's stock, valued at approximately $4,660,029.28. The trade was a 2.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $9.04, for a total value of $9,040,000.00. Following the transaction, the chief technology officer now owns 55,818,548 shares of the company's stock, valued at $504,599,673.92. This trade represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,356,523 shares of company stock worth $12,710,077. Insiders own 22.68% of the company's stock.
About Snap
(
Free Report)
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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