Handelsbanken Fonder AB Reduces Stake in Snap Inc. (NYSE:SNAP)

Handelsbanken Fonder AB decreased its holdings in Snap Inc. (NYSE:SNAP - Free Report) by 56.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 251,007 shares of the company's stock after selling 326,076 shares during the period. Handelsbanken Fonder AB's holdings in Snap were worth $4,250,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Sowell Financial Services LLC boosted its stake in shares of Snap by 3.3% in the 4th quarter. Sowell Financial Services LLC now owns 23,139 shares of the company's stock valued at $392,000 after purchasing an additional 729 shares in the last quarter. Impax Asset Management Group plc boosted its stake in shares of Snap by 4.5% in the 3rd quarter. Impax Asset Management Group plc now owns 23,434 shares of the company's stock valued at $209,000 after purchasing an additional 1,017 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Snap by 7.1% during the 3rd 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 last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Snap by 12.8% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,490 shares of the company's stock valued at $102,000 after buying an additional 1,300 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. raised its holdings in Snap by 75.0% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the company's stock valued at $31,000 after buying an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company's stock.

Insider Activity

In other Snap news, CFO Derek Andersen sold 96,953 shares of the firm'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 in the company, valued at approximately $27,856,232.11. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $1,065,513.47. Following the sale, the chief financial officer now owns 2,534,689 shares in the company, valued at $27,856,232.11. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Rebecca Morrow sold 9,386 shares of Snap stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $11.14, for a total transaction of $104,560.04. Following the sale, the chief accounting officer now owns 495,526 shares in the company, valued at approximately $5,520,159.64. The disclosure for this sale can be found here. Insiders have sold a total of 470,482 shares of company stock valued at $5,284,091 in the last 90 days. 22.68% of the stock is currently owned by insiders.

Snap Stock Up 27.5 %

SNAP stock traded up $3.13 during trading on Friday, hitting $14.53. 159,670,202 shares of the stock traded hands, compared to its average volume of 31,844,951. Snap Inc. has a 1 year low of $7.86 and a 1 year high of $17.90. The firm's 50 day moving average is $11.19 and its two-hundred day moving average is $12.79. The stock has a market cap of $23.98 billion, a price-to-earnings ratio of -17.55 and a beta of 1.13. 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 announced its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.24) by $0.10. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.12 billion. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. On average, sell-side analysts anticipate that Snap Inc. will post -0.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Raymond James reiterated an "outperform" rating and set a $16.00 price target (up from $15.00) on shares of Snap in a report on Friday. BMO Capital Markets lowered their price target on shares of Snap from $22.00 to $20.00 and set an "outperform" rating for the company in a report on Wednesday, February 7th. Wells Fargo & Company upped their price objective on shares of Snap from $16.00 to $18.00 and gave the stock an "overweight" rating in a report on Friday. Morgan Stanley upped their price objective on shares of Snap from $11.00 to $12.00 and gave the stock an "underweight" rating in a report on Friday. Finally, Stifel Nicolaus upped their price objective on shares of Snap from $12.00 to $13.00 and gave the stock a "hold" rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $14.67.

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.