Snap Inc. (NYSE:SNAP) Shares Sold by Swedbank AB

Swedbank AB lowered its position in shares of Snap Inc. (NYSE:SNAP) by 78.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 152,563 shares of the company’s stock after selling 570,200 shares during the quarter. Swedbank AB’s holdings in Snap were worth $1,632,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SNAP. Paladin Wealth LLC bought a new position in shares of Snap during the 3rd quarter valued at about $30,000. Exchange Traded Concepts LLC boosted its holdings in Snap by 38.7% during the third quarter. Exchange Traded Concepts LLC now owns 784,982 shares of the company’s stock worth $8,399,000 after buying an additional 219,111 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in Snap by 515.4% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 8,000 shares of the company’s stock worth $86,000 after buying an additional 6,700 shares during the last quarter. Perpetual Ltd bought a new position in shares of Snap in the third quarter valued at $302,000. Finally, CWM LLC lifted its position in shares of Snap by 17.4% during the 3rd quarter. CWM LLC now owns 114,689 shares of the company’s stock valued at $1,227,000 after acquiring an additional 16,968 shares during the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SNAP shares. Benchmark restated a “hold” rating on shares of Snap in a report on Tuesday, August 6th. HSBC downgraded Snap from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. JMP Securities reissued a “market perform” rating on shares of Snap in a research report on Wednesday, September 18th. Stifel Nicolaus cut their price target on shares of Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, October 14th. Finally, Hsbc Global Res cut shares of Snap from a “strong-buy” rating to a “hold” rating 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, Snap has a consensus rating of “Hold” and a consensus price target of $13.77.

Snap Stock Performance

Shares of NYSE SNAP opened at $10.50 on Friday. The business’s 50-day simple moving average is $9.83 and its 200-day simple moving average is $12.70. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.90. The firm has a market cap of $17.23 billion, a price-to-earnings ratio of -12.96 and a beta of 1.01.

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

Insider Buying and Selling

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total transaction 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 $508,832,634.97. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Evan Spiegel sold 150,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.85, for a total transaction of $1,327,500.00. Following the transaction, the chief executive officer now owns 3,327,844 shares of the company’s stock, valued at approximately $29,451,419.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the completion of the sale, the chief technology officer now directly owns 58,553,813 shares of the company’s stock, valued at approximately $508,832,634.97. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,510,352 shares of company stock worth $13,446,353 in the last quarter. 22.68% of the stock is currently owned by company insiders.

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.