Freestone Capital Holdings LLC raised its holdings in shares of Snap Inc. (NYSE:SNAP – Free Report) by 11.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 74,664 shares of the company’s stock after buying an additional 7,764 shares during the period. Freestone Capital Holdings LLC’s holdings in Snap were worth $837,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Snap by 1.7% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,090,107 shares of the company’s stock worth $9,756,000 after buying an additional 18,738 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Snap by 10.5% in the 1st quarter. Handelsbanken Fonder AB now owns 466,152 shares of the company’s stock worth $5,226,000 after purchasing an additional 44,429 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Snap by 1.5% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 630,069 shares of the company’s stock worth $7,063,000 after purchasing an additional 9,096 shares during the period. Brighton Jones LLC boosted its stake in Snap by 101.4% in the 1st quarter. Brighton Jones LLC now owns 20,367 shares of the company’s stock worth $228,000 after purchasing an additional 10,254 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Snap by 46.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 416,197 shares of the company’s stock worth $4,666,000 after purchasing an additional 131,308 shares during the period. 44.37% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms recently commented on SNAP. Loop Capital decreased their price objective on shares of Snap from $16.00 to $14.00 in a research note on Wednesday, June 7th. UBS Group decreased their price objective on shares of Snap from $14.00 to $12.00 in a research note on Wednesday, July 26th. Truist Financial lifted their target price on shares of Snap from $7.00 to $11.00 in a research note on Wednesday, July 26th. Wells Fargo & Company started coverage on shares of Snap in a research note on Wednesday, June 7th. They set an “equal weight” rating and a $10.00 target price for the company. Finally, Barclays lifted their target price on shares of Snap from $11.00 to $15.00 in a research note on Wednesday, July 26th. Three analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Snap has an average rating of “Hold” and a consensus target price of $10.41.
Insider Activity
In other news, COO Jerry James Hunter sold 75,534 shares of Snap stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $10.52, for a total transaction of $794,617.68. Following the sale, the chief operating officer now directly owns 4,542,968 shares in the company, valued at approximately $47,792,023.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Jerry James Hunter sold 75,534 shares of Snap stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $10.52, for a total transaction of $794,617.68. Following the sale, the chief operating officer now directly owns 4,542,968 shares in the company, valued at approximately $47,792,023.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Poppy Thorpe sold 4,921 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $9.17, for a total transaction of $45,125.57. Following the completion of the transaction, the director now owns 46,264 shares in the company, valued at $424,240.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,613,627 shares of company stock worth $16,744,101. Corporate insiders own 22.68% of the company’s stock.
Snap Stock Performance
NYSE:SNAP opened at $9.39 on Monday. The firm’s 50-day moving average is $10.94 and its 200-day moving average is $10.51. Snap Inc. has a 52-week low of $7.33 and a 52-week high of $13.89. The company has a debt-to-equity ratio of 1.50, a quick ratio of 5.16 and a current ratio of 5.16. The company has a market cap of $15.24 billion, a price-to-earnings ratio of -11.05 and a beta of 1.27.
Snap (NYSE:SNAP – Get Free Report) last issued its earnings results on Tuesday, July 25th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.01. Snap had a negative net margin of 30.19% and a negative return on equity of 36.83%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. Equities research analysts anticipate that Snap Inc. will post -0.82 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.
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