Snap Inc. (NYSE:SNAP) Shares Acquired by Northern Trust Corp

Northern Trust Corp increased its position in shares of Snap Inc. (NYSE:SNAP - Free Report) by 11.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,245,811 shares of the company's stock after acquiring an additional 445,952 shares during the quarter. Northern Trust Corp owned about 0.25% of Snap worth $45,727,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its stake in shares of Snap by 1.7% during the 4th 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. Susquehanna Fundamental Investments LLC purchased a new stake in Snap during the 4th quarter worth approximately $979,000. Banco Bilbao Vizcaya Argentaria S.A. grew its position in Snap by 18.3% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 426,248 shares of the company's stock worth $4,641,000 after purchasing an additional 65,808 shares during the last quarter. RBF Capital LLC purchased a new stake in Snap during the 4th quarter worth approximately $431,000. Finally, Dark Forest Capital Management LP purchased a new stake in Snap during the 4th quarter worth approximately $149,000. Institutional investors own 47.52% of the company's stock.

Snap Trading Up 11.4%

Snap stock traded up $0.94 during midday trading on Monday, hitting $9.19. 53,599,288 shares of the stock were exchanged, compared to its average volume of 28,617,127. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $15.59 billion, a price-to-earnings ratio of -21.88 and a beta of 0.61. The stock's 50-day simple moving average is $8.53 and its 200 day simple moving average is $10.32. Snap Inc. has a fifty-two week low of $7.08 and a fifty-two week high of $17.33.

Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.12). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the business earned $0.03 earnings per share. Snap's revenue was up 14.1% on a year-over-year basis. On average, equities analysts anticipate that Snap Inc. will post -0.3 EPS for the current year.

Insider Activity

In other Snap news, CAO Rebecca Morrow sold 8,837 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value 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 SEC, which can be accessed through the SEC website. Also, SVP Eric Young sold 102,152 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $1,107,327.68. Following the completion of the transaction, the senior vice president now directly owns 3,443,419 shares in the company, valued at $37,326,661.96. This represents a 2.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,362,523 shares of company stock valued at $20,719,017. 22.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on SNAP. Morgan Stanley decreased their target price 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. Royal Bank of Canada reiterated a "sector perform" rating and issued a $12.00 target price on shares of Snap in a research note on Wednesday, April 30th. B. Riley decreased their target price on shares of Snap from $12.00 to $10.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Truist Financial decreased their target price on shares of Snap from $14.00 to $11.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Finally, UBS Group decreased their target price on shares of Snap from $14.00 to $9.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, twenty-three have given 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 stock has an average rating of "Hold" and a consensus price target of $35.50.

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.