Price T Rowe Associates Inc. MD Trims Stake in Snap Inc. (NYSE:SNAP)

Price T Rowe Associates Inc. MD decreased its stake in Snap Inc. (NYSE:SNAP - Free Report) by 13.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 397,526 shares of the company's stock after selling 61,164 shares during the quarter. Price T Rowe Associates Inc. MD's holdings in Snap were worth $4,282,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SNAP. Mountain Hill Investment Partners Corp. acquired a new stake in Snap during the 4th quarter valued at $27,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Snap in the fourth quarter valued at about $32,000. Osterweis Capital Management Inc. acquired a new position in Snap during the 4th quarter worth about $43,000. Blue Trust Inc. grew its holdings in Snap by 128.0% during the 4th quarter. Blue Trust Inc. now owns 4,370 shares of the company's stock worth $47,000 after acquiring an additional 2,453 shares during the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new stake in Snap in the 4th quarter valued at about $54,000. 47.52% of the stock is currently owned by institutional investors.

Snap Trading Up 0.4 %

Shares of SNAP stock traded up $0.03 during trading hours on Friday, reaching $8.25. The company's stock had a trading volume of 26,430,178 shares, compared to its average volume of 28,540,332. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. The firm's fifty day simple moving average is $8.55 and its 200 day simple moving average is $10.33. The stock has a market capitalization of $13.99 billion, a P/E ratio of -19.64 and a beta of 0.61. Snap Inc. has a one year low of $7.08 and a one year high of $17.33.

Snap (NYSE:SNAP - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.12). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. The business had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter in the previous year, the business posted $0.03 earnings per share. Snap's revenue for the quarter was up 14.1% on a year-over-year basis. Equities research analysts expect that Snap Inc. will post -0.3 EPS for the current year.

Insiders Place Their Bets

In other Snap news, SVP Eric Young sold 102,152 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $1,107,327.68. Following the sale, the senior vice president now directly owns 3,443,419 shares of the company's stock, valued at $37,326,661.96. This trade represents a 2.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Michael J. O'sullivan sold 24,000 shares of Snap stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $7.74, for a total transaction of $185,760.00. Following the sale, the general counsel now owns 483,660 shares in the company, valued at approximately $3,743,528.40. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,362,523 shares of company stock valued at $20,719,017. 22.68% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on SNAP. Piper Sandler lowered their target price on Snap from $13.00 to $10.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Truist Financial cut their target price on shares of Snap from $14.00 to $11.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Citizens Jmp raised shares of Snap from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 28th. Canaccord Genuity Group reduced their price objective on shares of Snap from $10.00 to $9.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Finally, Stifel Nicolaus dropped their target price on shares of Snap from $11.00 to $8.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $35.50.

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.