Snap Inc (NYSE:SNAP) Shares Acquired by IFM Investors Pty Ltd

IFM Investors Pty Ltd lifted its holdings in shares of Snap Inc (NYSE:SNAP) by 76.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 78,682 shares of the company’s stock after acquiring an additional 34,119 shares during the period. IFM Investors Pty Ltd’s holdings in Snap were worth $1,243,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SNAP. DNB Asset Management AS purchased a new position in shares of Snap in the 2nd quarter worth $976,000. Gulf International Bank UK Ltd purchased a new position in shares of Snap in the 2nd quarter worth $2,352,000. Valeo Financial Advisors LLC raised its position in shares of Snap by 400.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,500 shares of the company’s stock worth $36,000 after buying an additional 2,000 shares during the period. Xact Kapitalforvaltning AB raised its position in shares of Snap by 157.1% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 123,720 shares of the company’s stock worth $1,769,000 after buying an additional 75,606 shares during the period. Finally, Carlson Capital Management raised its position in shares of Snap by 68.3% in the 2nd quarter. Carlson Capital Management now owns 18,118 shares of the company’s stock worth $259,000 after buying an additional 7,352 shares during the period. 27.08% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently weighed in on SNAP shares. Pivotal Research reaffirmed a “buy” rating and issued a $20.50 target price on shares of Snap in a research report on Wednesday, July 24th. Citigroup raised their price objective on Snap from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. They noted that the move was a valuation call. Summit Insights raised Snap from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Barclays raised their price objective on Snap from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Susquehanna Bancshares raised Snap from a “negative” rating to a “neutral” rating and raised their price objective for the company from $12.00 to $18.00 in a research report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and fifteen have assigned a buy rating to the stock. Snap currently has a consensus rating of “Hold” and an average price target of $16.84.

In other news, VP Jerry James Hunter sold 117,782 shares of Snap stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $16.10, for a total transaction of $1,896,290.20. Following the sale, the vice president now directly owns 1,614,425 shares of the company’s stock, valued at $25,992,242.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Robert C. Murphy sold 698,913 shares of Snap stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $14.34, for a total value of $10,022,412.42. Following the completion of the transaction, the chief technology officer now owns 86,977,075 shares of the company’s stock, valued at $1,247,251,255.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,834,733 shares of company stock worth $43,918,901.

Shares of NYSE SNAP traded up $0.03 during midday trading on Friday, reaching $14.19. 14,017,668 shares of the company’s stock were exchanged, compared to its average volume of 28,393,313. Snap Inc has a 52-week low of $4.82 and a 52-week high of $18.36. The stock has a market capitalization of $19.82 billion, a PE ratio of -14.63 and a beta of 1.10. The company has a debt-to-equity ratio of 0.50, a quick ratio of 7.25 and a current ratio of 7.25. The business’s fifty day moving average price is $14.83 and its two-hundred day moving average price is $14.42.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, October 22nd. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.14. Snap had a negative return on equity of 44.16% and a negative net margin of 63.75%. The business had revenue of $446.20 million for the quarter, compared to analyst estimates of $436.00 million. During the same period in the previous year, the company earned ($0.12) earnings per share. The company’s revenue for the quarter was up 49.9% compared to the same quarter last year. Analysts predict that Snap Inc will post -0.69 earnings per share for the current fiscal year.

Snap Company Profile

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.

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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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