Snap Inc. (NYSE:SNAP) Holdings Cut by DnB Asset Management AS

DnB Asset Management AS cut its stake in shares of Snap Inc. (NYSE:SNAP) by 2.6% in the 4th quarter, Holdings Channel reports. The firm owned 168,379 shares of the company’s stock after selling 4,500 shares during the quarter. DnB Asset Management AS’s holdings in Snap were worth $1,813,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Checchi Capital Advisers LLC boosted its position in Snap by 3.0% during the 4th quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company’s stock valued at $335,000 after purchasing an additional 901 shares during the period. HCR Wealth Advisors boosted its holdings in shares of Snap by 3.9% during the fourth quarter. HCR Wealth Advisors now owns 25,016 shares of the company’s stock valued at $269,000 after acquiring an additional 934 shares during the period. Empowered Funds LLC grew its position in shares of Snap by 3.1% during the fourth quarter. Empowered Funds LLC now owns 35,639 shares of the company’s stock worth $384,000 after acquiring an additional 1,055 shares during the last quarter. Gradient Investments LLC increased its holdings in shares of Snap by 0.9% in the 4th quarter. Gradient Investments LLC now owns 142,144 shares of the company’s stock worth $1,531,000 after acquiring an additional 1,310 shares during the period. Finally, Certuity LLC lifted its position in Snap by 9.2% in the 4th quarter. Certuity LLC now owns 17,738 shares of the company’s stock valued at $191,000 after purchasing an additional 1,495 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Snap

In related news, CFO Derek Andersen sold 61,334 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $664,860.56. Following the completion of the sale, the chief financial officer now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction that occurred 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 transaction, the general counsel now owns 480,498 shares in the company, valued at approximately $5,520,922.02. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,332,523 shares of company stock valued at $12,503,677 in the last three months. 22.68% of the stock is currently owned by company insiders.

Snap Price Performance

NYSE SNAP opened at $8.94 on Wednesday. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.33. The company has a market cap of $15.16 billion, a PE ratio of -21.27 and a beta of 0.92. The stock’s 50-day moving average price is $10.12 and its two-hundred day moving average price is $10.82.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. On average, analysts predict that Snap Inc. will post -0.3 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SNAP shares. Susquehanna upped their target price 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. BMO Capital Markets reissued an “outperform” rating and issued a $16.00 price objective (down from $18.00) on shares of Snap in a report on Wednesday, January 15th. JMP Securities reaffirmed a “market outperform” rating and set a $16.00 target price on shares of Snap in a research note on Monday, January 27th. Guggenheim cut Snap from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 11th. Finally, Needham & Company LLC restated a “buy” rating and set a $640.00 price objective on shares of Snap in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, twenty-four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Snap currently has an average rating of “Hold” and an average target price of $36.80.

Snap Company 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.