Primecap Management Co. CA Has $337,000 Stock Holdings in Snap Inc. (NYSE:SNAP)

Primecap Management Co. CA trimmed its stake in shares of Snap Inc. (NYSE:SNAP) by 74.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,250 shares of the company’s stock after selling 92,500 shares during the quarter. Primecap Management Co. CA’s holdings in Snap were worth $337,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in Snap by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company’s stock valued at $124,742,000 after buying an additional 575,324 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Snap by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company’s stock valued at $71,095,000 after acquiring an additional 389,812 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of 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 valued at $41,842,000 after purchasing an additional 1,297,348 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of 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 purchasing an additional 15,294 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Snap by 51.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company’s stock worth $33,244,000 after purchasing an additional 1,050,501 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SNAP shares. Citizens Jmp lowered shares of Snap from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Wells Fargo & Company lowered Snap from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $15.00 to $11.00 in a research report on Wednesday, February 5th. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price objective on shares of Snap in a research note on Thursday, December 5th. Bank of America raised their target price on Snap from $14.00 to $14.50 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Finally, Susquehanna upped their price target on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. One research 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. According to MarketBeat.com, Snap has a consensus rating of “Hold” and a consensus target price of $36.87.

Insider Activity at Snap

In other Snap news, CAO Rebecca Morrow sold 8,837 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $95,793.08. Following the completion of the transaction, the chief accounting officer now owns 429,892 shares in the company, valued at approximately $4,660,029.28. This represents a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Derek Andersen sold 61,334 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were 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 owns 3,564,235 shares in the company, valued at approximately $38,636,307.40. This trade represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,350,523 shares of company stock worth $12,698,797. 22.68% of the stock is owned by company insiders.

Snap Trading Up 3.7 %

Shares of NYSE SNAP opened at $9.06 on Thursday. 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 Inc. has a twelve month low of $8.29 and a twelve month high of $17.33. The company’s fifty day moving average is $10.56 and its 200-day moving average is $10.80. The stock has a market cap of $15.36 billion, a price-to-earnings ratio of -21.56 and a beta of 0.92.

Snap (NYSE:SNAP) last posted 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 net margin of 13.02% and a negative return on equity of 25.67%. Equities research analysts predict that Snap Inc. will post -0.3 EPS 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.