Snap Inc. (NYSE:SNAP) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its holdings in shares of Snap Inc. (NYSE:SNAP) by 16.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 65,276 shares of the company’s stock after purchasing an additional 9,185 shares during the period. The Manufacturers Life Insurance Company’s holdings in Snap were worth $1,084,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hollencrest Capital Management acquired a new stake in shares of Snap during the second quarter worth $33,000. Blue Trust Inc. increased its holdings in shares of Snap by 354.1% in the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after acquiring an additional 1,682 shares during the period. Rothschild Investment LLC acquired a new stake in shares of Snap in the 2nd quarter worth about $40,000. J.Safra Asset Management Corp increased its holdings in shares of Snap by 534.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock worth $46,000 after acquiring an additional 2,330 shares during the period. Finally, JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Snap in the 1st quarter worth about $100,000. 47.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SNAP has been the topic of a number of analyst reports. Argus raised shares of Snap to a “hold” rating in a report on Thursday, August 8th. JMP Securities reaffirmed a “market perform” rating on shares of Snap in a report on Wednesday, September 18th. Piper Sandler reaffirmed a “neutral” rating and issued a $12.00 price objective (down previously from $15.00) on shares of Snap in a report on Friday, August 2nd. Morgan Stanley raised shares of Snap from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $12.00 to $16.00 in a report on Tuesday, July 23rd. Finally, The Goldman Sachs Group dropped their price target on shares of Snap from $16.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twenty-four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Snap presently has an average rating of “Hold” and an average target price of $13.85.

Insider Transactions at Snap

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $10.81, for a total value of $194,580.00. Following the transaction, the general counsel now directly owns 489,058 shares of the company’s stock, valued at approximately $5,286,716.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total value of $8,690,000.00. Following the completion of the sale, the chief technology officer now directly owns 58,553,813 shares in the company, valued at approximately $508,832,634.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $10.81, for a total transaction of $194,580.00. Following the completion of the sale, the general counsel now owns 489,058 shares of the company’s stock, valued at $5,286,716.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,510,352 shares of company stock valued at $13,446,353. 22.68% of the stock is owned by insiders.

Snap Price Performance

Shares of NYSE:SNAP opened at $11.13 on Friday. The company’s fifty day moving average is $9.63 and its two-hundred day moving average is $12.73. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.90. The company has a market cap of $18.47 billion, a P/E ratio of -15.46 and a beta of 1.01.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.25 billion. Equities analysts expect that Snap Inc. will post -0.47 earnings per share for the current fiscal 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.