Bank Julius Baer & Co. Ltd Zurich Cuts Stake in Snap Inc. (NYSE:SNAP)

Bank Julius Baer & Co. Ltd Zurich lessened its stake in Snap Inc. (NYSE:SNAP - Free Report) by 68.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 41,019 shares of the company's stock after selling 90,069 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Snap were worth $694,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SNAP. Vanguard Group Inc. grew its position in shares of Snap by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company's stock valued at $818,067,000 after buying an additional 1,352,655 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Snap by 60.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,381,578 shares of the company's stock valued at $21,220,000 after buying an additional 892,996 shares during the last quarter. Bellwether Advisors LLC bought a new stake in shares of Snap in the 3rd quarter valued at about $5,362,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Snap by 50.3% in 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 last quarter. Finally, Twenty Acre Capital LP bought a new stake in shares of Snap during the 3rd quarter valued at about $3,328,000. Institutional investors own 47.52% of the company's stock.

Insider Activity

In other news, General Counsel Michael J. O'sullivan sold 18,000 shares of the company's stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $11.53, for a total value of $207,540.00. Following the completion of the sale, the general counsel now directly owns 474,812 shares in the company, valued at approximately $5,474,582.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Michael J. O'sullivan sold 18,000 shares of the company's stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $11.53, for a total value of $207,540.00. Following the completion of the sale, the general counsel now directly owns 474,812 shares in the company, valued at approximately $5,474,582.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Rebecca Morrow sold 2,442 shares of the stock in a transaction on Monday, March 18th. The stock was 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 of the company's stock, valued at approximately $5,423,924. The disclosure for this sale can be found here. Insiders have sold 470,482 shares of company stock valued at $5,284,091 in the last ninety days. 22.68% of the stock is currently owned by company insiders.

Snap Trading Up 27.6 %

Shares of SNAP traded up $3.15 during trading hours on Friday, hitting $14.55. The company had a trading volume of 159,811,902 shares, compared to its average volume of 25,544,486. The stock's 50 day moving average price is $11.26 and its 200 day moving average price is $12.89. 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 $24.02 billion, a P/E ratio of -17.96 and a beta of 1.13. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55.

Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.10. The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.12 billion. Snap had a negative return on equity of 45.02% and a negative net margin of 26.99%. On average, research analysts predict that Snap Inc. will post -0.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SNAP. Piper Sandler upped their target price on Snap from $12.00 to $17.00 and gave the company a "neutral" rating in a research report on Wednesday, January 17th. Morgan Stanley upped their target price on Snap from $11.00 to $12.00 and gave the company an "underweight" rating in a research report on Friday. BMO Capital Markets cut their target price on Snap from $22.00 to $20.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 7th. Barclays upped their target price on Snap from $15.00 to $17.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Truist Financial upped their price target on Snap from $12.00 to $16.00 and gave the stock a "hold" rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Snap presently has an average rating of "Hold" and an average price target of $14.67.

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.