DekaBank Deutsche Girozentrale Purchases 311,552 Shares of Snap Inc. (NYSE:SNAP)

DekaBank Deutsche Girozentrale grew its position in Snap Inc. (NYSE:SNAP - Free Report) by 171.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 493,744 shares of the company's stock after buying an additional 311,552 shares during the period. DekaBank Deutsche Girozentrale's holdings in Snap were worth $8,312,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Allworth Financial LP boosted its position in shares of Snap by 161.6% during the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company's stock worth $47,000 after purchasing an additional 1,708 shares during the period. ICA Group Wealth Management LLC purchased a new position in shares of Snap during the 4th quarter worth approximately $29,000. Newbridge Financial Services Group Inc. boosted its position in shares of Snap by 75.0% during the 3rd 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 shares of Snap by 365.3% during the 2nd 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. Finally, Sunbelt Securities Inc. purchased a new position in shares of Snap during the 1st quarter worth approximately $49,000. Hedge funds and other institutional investors own 47.52% of the company's stock.

Snap Stock Performance

Snap stock traded up $0.48 during midday trading on Thursday, hitting $11.36. 24,455,830 shares of the company's stock were exchanged, compared to its average volume of 29,283,234. Snap Inc. has a 12-month low of $7.86 and a 12-month high of $17.90. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 4.39. The stock has a market cap of $18.75 billion, a price-to-earnings ratio of -13.69 and a beta of 1.13. The firm's 50 day simple moving average is $11.60 and its 200 day simple moving average is $12.63.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on SNAP shares. Stifel Nicolaus increased their target price on shares of Snap from $10.00 to $14.00 and gave the stock a "hold" rating in a report on Tuesday, January 9th. Piper Sandler raised their price objective on shares of Snap from $12.00 to $17.00 and gave the company a "neutral" rating in a report on Wednesday, January 17th. The Goldman Sachs Group reduced their price objective on shares of Snap from $15.00 to $13.50 and set a "neutral" rating on the stock in a report on Thursday, February 8th. Susquehanna raised their price objective on shares of Snap from $9.50 to $12.00 and gave the company a "neutral" rating in a report on Wednesday, February 7th. Finally, Royal Bank of Canada reduced their price objective on shares of Snap from $17.00 to $13.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $13.70.

Insider Activity at Snap

In related news, CAO Rebecca Morrow sold 2,442 shares of the firm's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $11.00, for a total value of $26,862.00. Following the completion of the sale, the chief accounting officer now owns 493,084 shares in the company, valued at $5,423,924. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Snap news, General Counsel Michael J. O'sullivan sold 13,000 shares of Snap stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total transaction of $210,080.00. Following the completion of the transaction, the general counsel now owns 461,005 shares in the company, valued at $7,449,840.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Rebecca Morrow sold 2,442 shares of Snap stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $11.00, for a total transaction of $26,862.00. Following the transaction, the chief accounting officer now owns 493,084 shares of the company's stock, valued at approximately $5,423,924. The disclosure for this sale can be found here. Insiders sold 470,462 shares of company stock worth $5,286,078 over the last 90 days.

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.