Illinois Municipal Retirement Fund Has $5.70 Million Stake in Snap Inc. (NYSE:SNAP)

Illinois Municipal Retirement Fund boosted its position in Snap Inc. (NYSE:SNAP - Free Report) by 609.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 336,658 shares of the company's stock after purchasing an additional 289,195 shares during the period. Illinois Municipal Retirement Fund's holdings in Snap were worth $5,700,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SNAP. Duality Advisers LP acquired a new position in Snap in the 4th quarter valued at $5,077,000. Rakuten Securities Inc. acquired a new position in Snap during the fourth quarter worth approximately $73,000. Kiley Juergens Wealth Management LLC purchased a new position in Snap during the fourth quarter worth approximately $263,000. Cerity Partners LLC boosted its holdings in shares of Snap by 19.0% in the 4th quarter. Cerity Partners LLC now owns 222,124 shares of the company's stock valued at $3,761,000 after purchasing an additional 35,452 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Snap by 50.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,382,917 shares of the company's stock valued at $23,413,000 after buying an additional 462,977 shares during the period. Hedge funds and other institutional investors own 47.52% of the company's stock.

Insiders Place Their Bets

In related news, General Counsel Michael J. O'sullivan sold 13,000 shares of the 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 sale, the general counsel now owns 461,005 shares in the company, valued at $7,449,840.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Evan Spiegel sold 150,000 shares of the business's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $11.11, for a total transaction of $1,666,500.00. Following the completion of the transaction, the chief executive officer now directly owns 3,627,844 shares in the company, valued at $40,305,346.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Michael J. O'sullivan sold 13,000 shares of the stock in a transaction that occurred 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 transaction, the general counsel now directly owns 461,005 shares of the company's stock, valued at $7,449,840.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 470,482 shares of company stock valued at $5,284,091.

Analyst Upgrades and Downgrades

Several brokerages have commented on SNAP. BMO Capital Markets dropped their price target on Snap from $22.00 to $20.00 and set an "outperform" rating for the company in a research note on Wednesday, February 7th. Piper Sandler raised their price target on shares of Snap from $12.00 to $17.00 and gave the company a "neutral" rating in a report on Wednesday, January 17th. Morgan Stanley reduced their price target on shares of Snap from $13.00 to $11.00 and set an "underweight" rating on the stock in a research report on Wednesday, February 7th. Roth Mkm reissued a "neutral" rating and issued a $14.00 price objective on shares of Snap in a research report on Tuesday. Finally, Truist Financial lifted their target price on shares of Snap from $11.00 to $12.00 and gave the company a "hold" rating in a report on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $13.86.

Snap Stock Down 2.8 %

Shares of Snap stock traded down $0.32 during trading on Wednesday, reaching $11.07. The company had a trading volume of 32,484,850 shares, compared to its average volume of 29,658,988. 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 firm's fifty day moving average is $11.20 and its 200-day moving average is $12.82. Snap Inc. has a fifty-two week low of $7.86 and a fifty-two week high of $17.90. The company has a market cap of $18.27 billion, a price-to-earnings ratio of -13.34 and a beta of 1.13.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.39 billion. On average, analysts anticipate that Snap Inc. will post -0.58 EPS for the current year.

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.