Sumitomo Mitsui Trust Holdings Inc. Reduces Holdings in Snap Inc. (NYSE:SNAP)

Sumitomo Mitsui Trust Holdings Inc. lowered its position in Snap Inc. (NYSE:SNAP - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,168,007 shares of the company's stock after selling 133,293 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.25% of Snap worth $70,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Sowell Financial Services LLC increased its holdings in Snap by 3.3% during the fourth quarter. Sowell Financial Services LLC now owns 23,139 shares of the company's stock valued at $392,000 after buying an additional 729 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its holdings in Snap by 7.4% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,440 shares of the company's stock valued at $176,000 after buying an additional 930 shares during the period. Impax Asset Management Group plc increased its holdings in Snap by 4.5% during the third quarter. Impax Asset Management Group plc now owns 23,434 shares of the company's stock valued at $209,000 after buying an additional 1,017 shares during the period. Principal Financial Group Inc. increased its holdings in Snap by 7.1% during the third quarter. Principal Financial Group Inc. now owns 15,373 shares of the company's stock valued at $137,000 after buying an additional 1,025 shares during the period. Finally, Ethic Inc. increased its holdings in Snap by 13.5% during the first quarter. Ethic Inc. now owns 9,184 shares of the company's stock valued at $331,000 after buying an additional 1,089 shares during the period. Institutional investors own 47.52% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. BMO Capital Markets cut their price objective on shares of Snap from $22.00 to $20.00 and set an "outperform" rating on the stock in a report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft raised shares of Snap from a "hold" rating to a "buy" rating and lifted their price target for the stock from $10.00 to $19.00 in a report on Friday, January 26th. Stifel Nicolaus cut their price target on shares of Snap from $14.00 to $12.00 and set a "hold" rating on the stock in a report on Tuesday. Piper Sandler lifted their price target on shares of Snap from $12.00 to $17.00 and gave the stock a "neutral" rating in a report on Wednesday, January 17th. Finally, The Goldman Sachs Group cut their price target 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. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $13.86.

Snap Stock Performance

NYSE SNAP traded up $0.73 on Thursday, reaching $11.63. 54,300,431 shares of the company's stock traded hands, compared to its average volume of 29,724,879. The firm has a market cap of $19.20 billion, a price-to-earnings ratio of -14.01 and a beta of 1.13. The stock has a 50 day moving average price of $11.21 and a 200-day moving average price of $12.71. Snap Inc. has a fifty-two week low of $7.86 and a fifty-two week 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.

Snap (NYSE:SNAP - Get Free Report) last posted its 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 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 fiscal year.

Insider Buying and Selling at Snap

In other Snap news, SVP Eric Young sold 120,472 shares of Snap stock in a transaction on Friday, February 16th. The shares were sold at an average price of $11.13, for a total value of $1,340,853.36. Following the completion of the transaction, the senior vice president now owns 3,540,852 shares of the company's stock, valued at $39,409,682.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Snap news, SVP Eric Young sold 120,472 shares of Snap stock in a transaction on Friday, February 16th. The shares were sold at an average price of $11.13, for a total value of $1,340,853.36. Following the completion of the transaction, the senior vice president now owns 3,540,852 shares of the company's stock, valued at $39,409,682.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael J. O'sullivan sold 13,000 shares of Snap stock in a transaction on 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 directly owns 461,005 shares of the company's stock, valued at approximately $7,449,840.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 470,482 shares of company stock valued at $5,284,091. Corporate insiders own 22.68% of the company's stock.

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.