Snap Inc. (NYSE:SNAP) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. lowered its position in shares of Snap Inc. (NYSE:SNAP) by 2.4% in the third quarter, Holdings Channel.com reports. The fund owned 401,800 shares of the company’s stock after selling 9,900 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Snap were worth $4,299,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SNAP. V Square Quantitative Management LLC acquired a new position in shares of Snap during the third quarter valued at approximately $29,000. Paladin Wealth LLC purchased a new stake in shares of Snap in the third quarter valued at approximately $30,000. Hollencrest Capital Management purchased a new stake in shares of Snap in the second quarter valued at approximately $33,000. Blue Trust Inc. grew its position in shares of Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after purchasing an additional 1,682 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new stake in shares of Snap in the second quarter valued at approximately $40,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SNAP. JPMorgan Chase & Co. dropped their price target on Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Argus upgraded Snap to a “hold” rating in a research report on Thursday, August 8th. Barclays lowered their price objective on Snap from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $14.00 price objective on shares of Snap in a research report on Wednesday, September 18th. Finally, Stifel Nicolaus lowered their price objective on Snap from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $14.31.

Insider Buying and Selling

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $12.31, for a total transaction of $221,580.00. Following the sale, the general counsel now directly owns 471,058 shares in the company, valued at approximately $5,798,723.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $12.50, for a total value of $12,500,000.00. Following the transaction, the chief technology officer now directly owns 57,210,989 shares in the company, valued at $715,137,362.50. 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 available at this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $12.31, for a total transaction of $221,580.00. Following the completion of the transaction, the general counsel now owns 471,058 shares in the company, valued at $5,798,723.98. 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 1,365,051 shares of company stock worth $15,965,178.

Snap Stock Down 3.1 %

Shares of SNAP opened at $11.81 on Thursday. The company’s 50-day simple moving average is $10.34 and its 200-day simple moving average is $12.73. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.90. The stock has a market capitalization of $19.60 billion, a PE ratio of -20.36 and a beta of 0.99.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the firm earned ($0.21) earnings per share. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. Analysts forecast that Snap Inc. will post -0.41 earnings per share for the current fiscal 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.