Snap Inc. (NYSE:SNAP) Shares Purchased by KBC Group NV

KBC Group NV boosted its holdings in Snap Inc. (NYSE:SNAP) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 142,208 shares of the company’s stock after purchasing an additional 2,427 shares during the quarter. KBC Group NV’s holdings in Snap were worth $1,532,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in shares of Snap by 5.2% during the third quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company’s stock valued at $124,742,000 after acquiring an additional 575,324 shares during the period. TB Alternative Assets Ltd. boosted its holdings in shares of Snap by 105.6% during the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after acquiring an additional 4,098,847 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Snap by 62.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after acquiring an additional 2,386,519 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Snap by 49.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock valued at $41,842,000 after acquiring an additional 1,297,348 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Snap by 51.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company’s stock valued at $33,244,000 after acquiring an additional 1,050,501 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

SNAP has been the topic of a number of recent analyst reports. Truist Financial lifted their price objective on shares of Snap from $13.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Benchmark restated a “hold” rating on shares of Snap in a research note on Friday, October 25th. JMP Securities restated a “market outperform” rating and set a $16.00 price objective on shares of Snap in a research note on Monday, January 27th. Evercore ISI lifted their price objective on shares of Snap from $12.00 to $15.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Finally, Guggenheim reiterated a “buy” rating and issued a $12.11 price target on shares of Snap in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Snap has an average rating of “Hold” and an average price target of $36.99.

Insider Activity at Snap

In related news, CFO Derek Andersen sold 94,164 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $11.44, for a total value of $1,077,236.16. Following the completion of the sale, the chief financial officer now owns 2,193,806 shares of the company’s stock, valued at approximately $25,097,140.64. The trade was a 4.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Eric Young sold 112,020 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.55, for a total value of $1,181,811.00. Following the completion of the sale, the senior vice president now directly owns 2,791,048 shares of the company’s stock, valued at approximately $29,445,556.40. The trade was a 3.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 427,184 shares of company stock valued at $4,761,369. 22.68% of the stock is owned by corporate insiders.

Snap Trading Down 0.4 %

NYSE:SNAP opened at $11.31 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.50. The stock’s 50-day moving average is $11.53 and its two-hundred day moving average is $10.96. The stock has a market cap of $18.96 billion, a PE ratio of -19.49 and a beta of 0.98.

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.