Snap Inc. (NYSE:SNAP) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. trimmed its holdings in shares of Snap Inc. (NYSE:SNAP) by 1.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 301,783 shares of the company’s stock after selling 3,071 shares during the period. Vontobel Holding Ltd.’s holdings in Snap were worth $2,629,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in SNAP. Capital International Investors bought a new position in shares of Snap during the fourth quarter worth about $422,049,000. Capital World Investors increased its stake in shares of Snap by 38.9% during the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock valued at $906,161,000 after acquiring an additional 23,569,522 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Snap by 121.9% during the first quarter. Assenagon Asset Management S.A. now owns 6,848,370 shares of the company’s stock valued at $59,649,000 after acquiring an additional 3,761,629 shares during the period. Norges Bank acquired a new position in shares of Snap during the fourth quarter valued at approximately $30,162,000. Finally, Renaissance Technologies LLC acquired a new position in Snap in the fourth quarter worth approximately $27,713,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Snap Stock Performance

NYSE:SNAP opened at $9.27 on Friday. The firm has a market capitalization of $15.48 billion, a PE ratio of -29.89 and a beta of 0.59. The firm has a 50-day moving average price of $8.45 and a 200 day moving average price of $9.49. The company has a quick ratio of 4.30, a current ratio of 4.30 and a debt-to-equity ratio of 1.55. Snap Inc. has a 12-month low of $7.08 and a 12-month high of $17.33.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.12). Snap had a negative return on equity of 21.53% and a negative net margin of 9.63%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the business posted $0.03 EPS. The business’s quarterly revenue was up 14.1% on a year-over-year basis. Research analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on SNAP shares. The Goldman Sachs Group dropped their price target on Snap from $9.50 to $8.50 and set a “neutral” rating on the stock in a report on Wednesday, April 30th. Cantor Fitzgerald set a $7.00 price target on shares of Snap and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. JMP Securities set a $12.00 target price on Snap in a report on Friday, April 25th. Truist Financial decreased their price target on Snap from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, April 30th. Finally, Stifel Nicolaus decreased their price target on shares of Snap from $11.00 to $8.00 and set a “hold” rating for the company in a 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 stock. Based on data from MarketBeat, Snap has a consensus rating of “Hold” and an average price target of $35.74.

Insider Buying and Selling at Snap

In other news, CAO Rebecca Morrow sold 9,202 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $8.59, for a total transaction of $79,045.18. Following the sale, the chief accounting officer directly owned 448,881 shares of the company’s stock, valued at $3,855,887.79. This represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Michael J. O’sullivan sold 24,000 shares of the firm’s stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $8.71, for a total transaction of $209,040.00. Following the completion of the transaction, the general counsel directly owned 510,984 shares in the company, valued at approximately $4,450,670.64. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,639,601 shares of company stock valued at $13,534,791 over the last three months. Insiders own 22.68% of the company’s stock.

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.