Nikko Asset Management Americas Inc. Has $34.23 Million Stake in Snap Inc. (NYSE:SNAP)

Nikko Asset Management Americas Inc. lowered its holdings in Snap Inc. (NYSE:SNAP - Free Report) by 7.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,020,400 shares of the company's stock after selling 159,003 shares during the quarter. Nikko Asset Management Americas Inc. owned about 0.12% of Snap worth $34,226,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Snap by 1.5% in the third quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company's stock valued at $818,067,000 after acquiring an additional 1,352,655 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Snap by 4.1% during the third quarter. Artisan Partners Limited Partnership now owns 8,267,765 shares of the company's stock worth $73,666,000 after buying an additional 327,038 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Snap by 6.1% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,301,300 shares of the company's stock worth $38,325,000 after buying an additional 245,555 shares during the last quarter. Northern Trust Corp lifted its holdings in Snap by 0.3% in the third quarter. Northern Trust Corp now owns 4,091,981 shares of the company's stock valued at $36,460,000 after buying an additional 10,583 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Snap by 7.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,444,341 shares of the company's stock valued at $58,313,000 after acquiring an additional 230,815 shares during the last quarter. Institutional investors own 47.52% of the company's stock.

Wall Street Analysts Forecast Growth

SNAP has been the topic of several recent research reports. Barclays raised their price target on Snap from $15.00 to $17.00 and gave the stock an "overweight" rating in a research report on Friday, April 26th. Benchmark reiterated a "hold" rating on shares of Snap in a research report on Friday, April 26th. Roth Mkm restated a "neutral" rating and set a $14.00 price objective on shares of Snap in a report on Tuesday, April 23rd. Wells Fargo & Company raised their price objective on Snap from $16.00 to $18.00 and gave the stock an "overweight" rating in a research note on Friday, April 26th. Finally, Royal Bank of Canada boosted their target price on Snap from $13.00 to $16.00 and gave the company a "sector perform" rating in a research note on Friday, April 26th. 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 company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $14.79.

Insiders Place Their Bets

In related news, General Counsel Michael J. O'sullivan sold 59,641 shares of the business's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $11.00, for a total transaction of $656,051.00. Following the transaction, the general counsel now directly owns 1,267,193 shares of the company's stock, valued at approximately $13,939,123. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, General Counsel Michael J. O'sullivan sold 59,641 shares of the company'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 $656,051.00. Following the transaction, the general counsel now owns 1,267,193 shares in the company, valued at approximately $13,939,123. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Michael J. O'sullivan sold 18,000 shares of the firm's stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $11.53, for a total transaction of $207,540.00. Following the sale, the general counsel now owns 474,812 shares of the company's stock, valued at $5,474,582.36. The disclosure for this sale can be found here. Insiders have sold a total of 1,345,624 shares of company stock valued at $18,656,397 over the last 90 days. 22.68% of the stock is currently owned by insiders.

Snap Stock Up 0.2 %

Shares of NYSE SNAP traded up $0.03 during trading hours on Friday, hitting $16.05. The company had a trading volume of 12,172,980 shares, compared to its average volume of 31,901,766. Snap Inc. has a 1-year low of $8.28 and a 1-year high of $17.90. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 1.55. The firm's 50 day moving average is $12.73 and its 200-day moving average is $13.53. The stock has a market capitalization of $26.34 billion, a P/E ratio of -19.81 and a beta of 1.02.

Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.24) by $0.10. The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.12 billion. Snap had a negative net margin of 26.99% and a negative return on equity of 46.62%. On average, analysts expect that Snap Inc. will post -0.46 earnings per share for the current fiscal 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.

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