Handelsbanken Fonder AB Sells 25,534 Shares of Snap Inc. (NYSE:SNAP)

Handelsbanken Fonder AB trimmed its position in shares of Snap Inc. (NYSE:SNAP) by 13.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 161,873 shares of the company’s stock after selling 25,534 shares during the quarter. Handelsbanken Fonder AB’s holdings in Snap were worth $1,743,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNAP. International Assets Investment Management LLC boosted its position in shares of Snap by 3,391.5% during the third quarter. International Assets Investment Management LLC now owns 24,685 shares of the company’s stock worth $264,000 after purchasing an additional 23,978 shares in the last quarter. Forsta AP Fonden lifted its position in Snap by 15.0% during the 3rd quarter. Forsta AP Fonden now owns 236,600 shares of the company’s stock worth $2,532,000 after buying an additional 30,900 shares in the last quarter. PFG Investments LLC lifted its position in Snap by 80.3% during the 3rd quarter. PFG Investments LLC now owns 49,271 shares of the company’s stock worth $527,000 after buying an additional 21,950 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Snap by 20.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,323 shares of the company’s stock worth $153,000 after buying an additional 2,395 shares in the last quarter. Finally, Trajan Wealth LLC lifted its position in Snap by 24.8% during the 3rd quarter. Trajan Wealth LLC now owns 19,059 shares of the company’s stock worth $204,000 after buying an additional 3,792 shares in the last quarter. 47.52% of the stock is owned by institutional investors.

Snap Stock Performance

Shares of NYSE:SNAP opened at $10.44 on Wednesday. The company’s 50 day moving average price is $11.16 and its two-hundred day moving average price is $10.79. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.33. The firm has a market cap of $17.70 billion, a PE ratio of -24.84 and a beta of 0.99. 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 announced its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. Equities research analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. The Goldman Sachs Group boosted their price target on shares of Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Truist Financial boosted their price target on shares of Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Bank of America upped their target price on shares of Snap from $14.00 to $14.50 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Cantor Fitzgerald upped their target price on shares of Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, UBS Group upped their target price on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $36.87.

Insiders Place Their Bets

In related news, CAO Rebecca Morrow sold 2,812 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $11.44, for a total transaction of $32,169.28. Following the sale, the chief accounting officer now owns 430,252 shares in the company, valued at approximately $4,922,082.88. This trade represents a 0.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $10.84, for a total transaction of $195,120.00. Following the sale, the general counsel now owns 498,498 shares in the company, valued at $5,403,718.32. This represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 499,471 shares of company stock worth $5,608,926 in the last quarter. Corporate 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.