Axa S.A. Increases Position in Snap Inc. (NYSE:SNAP)

Axa S.A. increased its stake in shares of Snap Inc. (NYSE:SNAP) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,706 shares of the company’s stock after buying an additional 1,727 shares during the period. Axa S.A.’s holdings in Snap were worth $654,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNAP. AlTi Global Inc. acquired a new stake in shares of Snap in the 4th quarter worth approximately $233,000. Metavasi Capital LP purchased a new position in shares of Snap in the fourth quarter valued at $5,363,000. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Snap during the 4th quarter worth $10,420,000. Freestone Grove Partners LP purchased a new stake in shares of Snap in the 4th quarter worth about $20,729,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Snap in the 4th quarter worth about $157,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 24,000 shares of the business’s stock in a transaction 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 sale, the general counsel now owns 483,660 shares in the company, valued at $3,743,528.40. The trade was a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated 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 transaction, the chief technology officer now directly owns 55,818,548 shares of the company’s stock, valued at $504,599,673.92. This trade represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,362,523 shares of company stock valued at $20,719,017 in the last three months. Corporate insiders own 22.68% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on SNAP shares. UBS Group cut their target price on shares of Snap from $14.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Guggenheim reaffirmed a “neutral” rating on shares of Snap in a research note on Wednesday, April 2nd. Susquehanna dropped their price target on Snap from $13.00 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday, April 30th. Citizens Jmp upgraded Snap from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 28th. Finally, Stifel Nicolaus dropped their price objective on 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $35.50.

Snap Price Performance

SNAP opened at $8.25 on Friday. Snap Inc. has a 52-week low of $7.08 and a 52-week high of $17.33. The company has a 50 day moving average of $8.53 and a two-hundred day moving average of $10.32. The company has a market cap of $13.99 billion, a P/E ratio of -19.64 and a beta of 0.61. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47.

Snap (NYSE:SNAP) last issued its quarterly earnings data 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 firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the business earned $0.03 EPS. The firm’s revenue was up 14.1% compared to the same quarter last year. On average, analysts expect that Snap Inc. will post -0.3 earnings per share for the current 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.