Snap Inc. (NYSE:SNAP) Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its holdings in Snap Inc. (NYSE:SNAP - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,216,809 shares of the company's stock after selling 29,791 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.07% of Snap worth $13,106,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its position 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 valued at $71,095,000 after buying an additional 389,812 shares during the period. Patriot Financial Group Insurance Agency LLC acquired a new position in Snap in the 4th quarter worth about $289,000. Bank of New York Mellon Corp boosted its position in Snap by 2.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,538,111 shares of the company's stock worth $16,565,000 after purchasing an additional 29,526 shares in the last quarter. Empowered Funds LLC grew its holdings in Snap by 3.1% in the fourth 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 period. Finally, Sei Investments Co. purchased a new stake in shares of Snap in the fourth quarter valued at approximately $158,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Rebecca Morrow sold 9,202 shares of Snap stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $8.59, for a total value of $79,045.18. Following the completion of the sale, the chief accounting officer now owns 448,881 shares in the company, valued at approximately $3,855,887.79. This trade represents a 2.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company's stock in a transaction on 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 in the company, 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. In the last ninety days, insiders sold 2,586,313 shares of company stock valued at $22,190,490. 22.68% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. JMP Securities set a $12.00 price target on shares of Snap in a research note on Friday, April 25th. Guggenheim reaffirmed a "neutral" rating on shares of Snap in a report on Wednesday, April 2nd. BMO Capital Markets cut their target price on shares of Snap from $16.00 to $13.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. UBS Group decreased 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. Finally, Rosenblatt Securities cut their price objective on Snap from $12.00 to $9.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, twenty-three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $35.62.

Snap Trading Down 0.3%

Shares of SNAP stock traded down $0.03 during trading on Wednesday, hitting $8.51. 6,431,838 shares of the stock traded hands, compared to its average volume of 28,680,343. Snap Inc. has a 52-week low of $7.08 and a 52-week high of $17.33. The firm has a market capitalization of $14.21 billion, a P/E ratio of -20.23 and a beta of 0.61. The firm's fifty day moving average price is $8.48 and its 200-day moving average price is $10.20. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95.

Snap (NYSE:SNAP - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported ($0.08) earnings per share (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 business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the business earned $0.03 EPS. Snap's revenue was up 14.1% compared to the same quarter last year. As a group, research analysts forecast that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

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.