OMERS ADMINISTRATION Corp Sells 43,397 Shares of Snap Inc. (NYSE:SNAP)

OMERS ADMINISTRATION Corp lessened its stake in shares of Snap Inc. (NYSE:SNAP - Free Report) by 26.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital International Investors acquired a new position in shares of Snap during the 4th quarter worth about $422,049,000. Capital World Investors increased its holdings in Snap by 38.9% in the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company's stock worth $906,161,000 after purchasing an additional 23,569,522 shares in the last quarter. Norges Bank purchased a new position in shares of Snap during the fourth quarter valued at approximately $30,162,000. Renaissance Technologies LLC purchased a new position in shares of Snap during the 4th quarter valued at $27,713,000. Finally, Portolan Capital Management LLC bought a new stake in shares of Snap during the 4th quarter valued at $25,447,000. Institutional investors and hedge funds own 47.52% of the company's stock.

Analyst Ratings Changes

SNAP has been the subject of a number of research analyst reports. Citigroup reduced their target price on Snap from $9.00 to $8.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. cut their price objective on Snap from $10.00 to $8.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Susquehanna decreased their price objective on Snap from $13.00 to $8.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Loop Capital dropped their target price on Snap from $16.00 to $12.00 and set a "buy" rating on the stock in a report on Friday. Finally, Truist Financial decreased their target price on Snap from $14.00 to $11.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Snap presently has a consensus rating of "Hold" and a consensus target price of $35.62.

Insider Activity at Snap

In other news, CTO Robert C. Murphy sold 1,000,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were 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 approximately $504,599,673.92. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Rebecca Morrow sold 9,202 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $8.59, for a total value of $79,045.18. Following the completion of the sale, the chief accounting officer now owns 448,881 shares in the company, valued at $3,855,887.79. The trade was a 2.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,586,313 shares of company stock worth $22,190,490. Corporate insiders own 22.68% of the company's stock.

Snap Trading Down 1.6%

NYSE:SNAP traded down $0.14 during mid-day trading on Tuesday, hitting $8.54. 28,338,724 shares of the stock traded hands, compared to its average volume of 28,739,465. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $14.27 billion, a price-to-earnings ratio of -20.33 and a beta of 0.61. The firm's 50 day moving average is $8.47 and its two-hundred day moving average is $10.21. Snap Inc. has a 52 week low of $7.08 and a 52 week high of $17.33.

Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings data 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 return on equity of 25.67% and a negative net margin of 13.02%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the company earned $0.03 EPS. The firm's revenue was up 14.1% compared to the same quarter last year. On average, equities research analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.

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.