OMERS ADMINISTRATION Corp Has $1.33 Million Stock Holdings in Snap Inc. (NYSE:SNAP)

OMERS ADMINISTRATION Corp decreased its holdings in shares of Snap Inc. (NYSE:SNAP - Free Report) by 26.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,248 shares of the company's stock after selling 43,397 shares during the period. OMERS ADMINISTRATION Corp's holdings in Snap were worth $1,327,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in SNAP. Assenagon Asset Management S.A. boosted its holdings in Snap by 51.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company's stock worth $33,244,000 after buying an additional 1,050,501 shares in the last quarter. HCR Wealth Advisors lifted its position in shares of Snap by 3.9% during the 4th quarter. HCR Wealth Advisors now owns 25,016 shares of the company's stock valued at $269,000 after acquiring an additional 934 shares during the last quarter. RDA Financial Network bought a new stake in shares of Snap during the 4th quarter worth $123,000. Avanza Fonder AB acquired a new position in shares of Snap in the 4th quarter worth $788,000. Finally, HB Wealth Management LLC raised its position in shares of Snap by 7.7% during the fourth quarter. HB Wealth Management LLC now owns 21,187 shares of the company's stock worth $228,000 after purchasing an additional 1,513 shares during the period. Institutional investors and hedge funds own 47.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SNAP shares. JMP Securities set a $12.00 price target on Snap in a research report on Friday, April 25th. Bank of America reduced their price objective on shares of Snap from $14.50 to $10.50 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Royal Bank of Canada reissued a "sector perform" rating and issued a $12.00 target price on shares of Snap in a research report on Wednesday, April 30th. Cantor Fitzgerald set a $7.00 price target on shares of Snap and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company lowered their price objective on shares of Snap from $9.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, twenty-three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $35.62.

Snap Stock Up 0.7%

SNAP traded up $0.06 during midday trading on Thursday, hitting $8.34. 7,696,477 shares of the company's stock traded hands, compared to its average volume of 28,711,275. The company has a market cap of $13.93 billion, a PE ratio of -19.89 and a beta of 0.61. The stock's fifty day simple moving average is $8.47 and its 200-day simple moving average is $10.18. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. 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 quarterly earnings results on Tuesday, April 29th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $1.35 billion. During the same quarter in the prior year, the business posted $0.03 EPS. The firm's revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, equities analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the completion of the sale, the chief technology officer now owns 55,818,548 shares of the company's stock, valued at $504,599,673.92. This represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 completion of the transaction, the general counsel now directly owns 483,660 shares in the company, valued at approximately $3,743,528.40. This represents a 4.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,586,313 shares of company stock valued at $22,190,490 over the last three months. 22.68% of the stock is currently owned by insiders.

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.