Gulf International Bank UK Ltd Sells 2,100 Shares of Snap Inc. (NYSE:SNAP)

Gulf International Bank UK Ltd lessened its holdings in Snap Inc. (NYSE:SNAP) by 2.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 79,541 shares of the company’s stock after selling 2,100 shares during the period. Gulf International Bank UK Ltd’s holdings in Snap were worth $856,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in Snap by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company’s stock worth $124,742,000 after acquiring an additional 575,324 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Snap by 62.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after acquiring an additional 2,386,519 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Snap by 49.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock worth $41,842,000 after acquiring an additional 1,297,348 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Snap by 0.5% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,245,128 shares of the company’s stock worth $34,950,000 after acquiring an additional 15,294 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Snap by 51.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company’s stock worth $33,244,000 after acquiring an additional 1,050,501 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

Snap Price Performance

SNAP opened at $10.26 on Monday. The business’s 50-day moving average is $11.09 and its two-hundred day moving average is $10.80. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.33. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. The firm has a market capitalization of $17.40 billion, a PE ratio of -24.42 and a beta of 0.99.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share 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%. Research analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Loop Capital increased their price objective on shares of Snap from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Bank of America increased their price objective on shares of Snap from $14.00 to $14.50 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Barclays reaffirmed an “overweight” rating on shares of Snap in a report on Wednesday, February 5th. Citizens Jmp lowered shares of Snap from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Susquehanna increased their price objective on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Snap currently has an average rating of “Hold” and a consensus price target of $36.87.

Insider Buying and Selling at Snap

In other Snap news, CFO Derek Andersen sold 61,334 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $664,860.56. Following the completion of the sale, the chief financial officer now directly owns 3,564,235 shares of the company’s stock, valued at $38,636,307.40. This trade represents a 1.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Rebecca Morrow sold 32,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $12.42, for a total value 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. The trade was a 6.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 481,471 shares of company stock valued at $5,394,906. 22.68% of the stock is owned by company insiders.

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.