Arizona State Retirement System Purchases 107,325 Shares of Snap Inc. (NYSE:SNAP)

Arizona State Retirement System raised its holdings in Snap Inc. (NYSE:SNAP - Free Report) by 38.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 384,502 shares of the company's stock after acquiring an additional 107,325 shares during the quarter. Arizona State Retirement System's holdings in Snap were worth $6,510,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of SNAP. ICA Group Wealth Management LLC bought a new stake in shares of Snap in the 4th quarter valued at approximately $29,000. Newbridge Financial Services Group Inc. boosted its position in Snap by 75.0% during the third quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the company's stock worth $31,000 after purchasing an additional 1,500 shares during the period. Tower Research Capital LLC TRC boosted its position in Snap by 365.3% during the second quarter. Tower Research Capital LLC TRC now owns 3,941 shares of the company's stock worth $47,000 after purchasing an additional 3,094 shares during the period. Sunbelt Securities Inc. bought a new stake in Snap during the first quarter worth approximately $49,000. Finally, International Assets Investment Management LLC bought a new stake in Snap during the third quarter worth approximately $57,000. 47.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SNAP. Wells Fargo & Company reduced their price objective on Snap from $22.00 to $16.00 and set an "overweight" rating for the company in a research report on Wednesday, February 7th. Royal Bank of Canada reduced their price objective on Snap from $17.00 to $13.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 7th. Rosenblatt Securities increased their price objective on Snap from $11.00 to $12.00 and gave the company a "neutral" rating in a research report on Wednesday, February 7th. Morgan Stanley reduced their price objective on Snap from $13.00 to $11.00 and set an "underweight" rating for the company in a research report on Wednesday, February 7th. Finally, Piper Sandler increased their price objective on Snap from $12.00 to $17.00 and gave the company a "neutral" rating in a research report on Wednesday, January 17th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $13.70.

Insider Activity

In other news, General Counsel Michael J. O'sullivan sold 13,000 shares of the firm's stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total value of $210,080.00. Following the completion of the sale, the general counsel now directly owns 461,005 shares in the company, valued at $7,449,840.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, General Counsel Michael J. O'sullivan sold 13,000 shares of the firm's stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total value of $210,080.00. Following the completion of the sale, the general counsel now directly owns 461,005 shares in the company, valued at $7,449,840.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Evan Spiegel sold 150,000 shares of the firm's stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $11.11, for a total value of $1,666,500.00. Following the completion of the transaction, the chief executive officer now owns 3,627,844 shares in the company, valued at approximately $40,305,346.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 470,462 shares of company stock worth $5,286,078.

Snap Price Performance

Snap stock traded up $0.11 during mid-day trading on Monday, hitting $11.11. 14,638,193 shares of the company were exchanged, compared to its average volume of 29,728,965. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55. The business has a fifty day moving average of $12.01 and a 200 day moving average of $12.61. Snap Inc. has a 1-year low of $7.86 and a 1-year high of $17.90. The company has a market capitalization of $18.34 billion, a PE ratio of -13.55 and a beta of 1.13.

Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings data on Tuesday, February 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.04. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.39 billion. As a group, sell-side analysts expect that Snap Inc. will post -0.58 earnings per share for the current year.

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.