Sumitomo Mitsui Trust Group Inc. Has $34.95 Million Position in Snap Inc. (NYSE:SNAP)

Sumitomo Mitsui Trust Group Inc. grew its holdings in Snap Inc. (NYSE:SNAP) by 0.5% during the 4th quarter, HoldingsChannel reports. The firm owned 3,245,128 shares of the company’s stock after acquiring an additional 15,294 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Snap were worth $34,950,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Cetera Investment Advisers grew its position in Snap by 23.7% during the second quarter. Cetera Investment Advisers now owns 104,470 shares of the company’s stock worth $1,735,000 after buying an additional 20,038 shares in the last quarter. CWM LLC grew its position in Snap by 17.4% during the third quarter. CWM LLC now owns 114,689 shares of the company’s stock worth $1,227,000 after buying an additional 16,968 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in Snap by 515.4% during 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 in the last quarter. Paladin Wealth LLC acquired a new stake in Snap during the third quarter worth about $30,000. Finally, Vontobel Holding Ltd. lifted its stake in Snap by 17.0% during the third quarter. Vontobel Holding Ltd. now owns 327,705 shares of the company’s stock worth $3,506,000 after purchasing an additional 47,717 shares during the period. 47.52% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction on Friday, January 31st. The shares were sold at an average price of $11.49, for a total transaction of $206,820.00. Following the completion of the sale, the general counsel now owns 480,498 shares of the company’s stock, valued at approximately $5,520,922.02. The trade was a 3.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Rebecca Morrow sold 32,000 shares of Snap stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $12.42, for a total transaction of $397,440.00. Following the sale, the chief accounting officer now directly owns 433,064 shares of the company’s stock, valued at $5,378,654.88. This represents a 6.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 443,518 shares of company stock valued at $4,947,981. Company insiders own 22.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Wednesday, February 5th. Benchmark restated a “hold” rating on shares of Snap in a research note on Friday, October 25th. Citigroup raised their price target on shares of Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. JMP Securities restated a “market outperform” rating and set a $16.00 price target on shares of Snap in a research note on Monday, January 27th. Finally, Citizens Jmp cut shares of Snap from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $36.87.

Snap Price Performance

SNAP opened at $10.90 on Wednesday. The company has a fifty day moving average price of $11.40 and a two-hundred day moving average price of $10.78. The company has a debt-to-equity ratio of 1.47, a quick ratio of 4.04 and a current ratio of 3.95. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.33. The firm has a market capitalization of $18.27 billion, a PE ratio of -25.94 and a beta of 0.99.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, February 4th. The company reported $0.01 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%. As a group, analysts anticipate that Snap Inc. will post -0.26 earnings per share for the current year.

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.