Tobam Decreases Stake in Snap Inc. (NYSE:SNAP)

Tobam lowered its holdings in Snap Inc. (NYSE:SNAP - Free Report) by 41.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 805,183 shares of the company's stock after selling 563,543 shares during the period. Tobam's holdings in Snap were worth $13,632,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Snap by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company's stock worth $818,067,000 after acquiring an additional 1,352,655 shares during the period. SRS Investment Management LLC bought a new stake in Snap during the 2nd quarter worth approximately $623,522,000. Wellington Management Group LLP increased its holdings in Snap by 95.8% during the 1st quarter. Wellington Management Group LLP now owns 17,811,242 shares of the company's stock worth $641,028,000 after acquiring an additional 8,712,380 shares during the period. Artisan Partners Limited Partnership increased its holdings in Snap by 4.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 8,267,765 shares of the company's stock worth $73,666,000 after acquiring an additional 327,038 shares during the period. Finally, Capital International Investors increased its holdings in Snap by 96.8% during the 1st quarter. Capital International Investors now owns 5,263,312 shares of the company's stock worth $189,427,000 after acquiring an additional 2,588,200 shares during the period. Institutional investors own 47.52% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. The Goldman Sachs Group cut their price target on shares of Snap from $15.00 to $13.50 and set a "neutral" rating for the company in a research note on Thursday, February 8th. Wells Fargo & Company cut their price target on shares of Snap from $22.00 to $16.00 and set an "overweight" rating for the company in a research note on Wednesday, February 7th. Piper Sandler boosted their price target on shares of Snap from $12.00 to $17.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 17th. Guggenheim raised shares of Snap from a "neutral" rating to a "buy" rating and upped their price objective for the company from $9.00 to $23.00 in a research note on Monday, December 18th. Finally, Rosenblatt Securities upped their price objective on shares of Snap from $11.00 to $12.00 and gave the company a "neutral" rating in a research note on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $13.70.

Insider Transactions at Snap

In other news, CFO Derek Andersen sold 96,953 shares of Snap stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $10.99, for a total value of $1,065,513.47. Following the completion of the sale, the chief financial officer now directly owns 2,534,689 shares in the company, valued at $27,856,232.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, General Counsel Michael J. O'sullivan sold 18,000 shares of the business's stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $11.53, for a total transaction of $207,540.00. Following the completion of the sale, the general counsel now directly owns 474,812 shares in the company, valued at $5,474,582.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Derek Andersen sold 96,953 shares of the business's stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $10.99, for a total transaction of $1,065,513.47. Following the sale, the chief financial officer now owns 2,534,689 shares of the company's stock, valued at $27,856,232.11. The disclosure for this sale can be found here. Insiders sold 470,462 shares of company stock worth $5,286,078 over the last three months.

Snap Stock Up 1.1 %

NYSE SNAP traded up $0.12 during trading hours on Tuesday, reaching $11.23. 12,671,081 shares of the company's stock traded hands, compared to its average volume of 29,478,406. Snap Inc. has a 52-week low of $7.86 and a 52-week high of $17.90. The firm has a market cap of $18.54 billion, a PE ratio of -13.53 and a beta of 1.13. The firm has a 50-day simple moving average of $11.79 and a 200 day simple moving average of $12.65. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.39 and a quick ratio of 4.39.

Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.16) by $0.04. The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.39 billion. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. Sell-side analysts anticipate that Snap Inc. will post -0.58 EPS for the current fiscal year.

About Snap

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.