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

IFM Investors Pty Ltd boosted its position in Snap Inc. (NYSE:SNAP) by 4.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 206,869 shares of the company’s stock after purchasing an additional 8,318 shares during the quarter. IFM Investors Pty Ltd’s holdings in Snap were worth $2,375,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SNAP. NBC Securities Inc. grew its holdings in Snap by 2,580.4% in the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after buying an additional 1,445 shares in the last quarter. Newbridge Financial Services Group Inc. raised its stake in shares of Snap by 75.0% during the third quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the company’s stock valued at $31,000 after purchasing an additional 1,500 shares in the last quarter. Allworth Financial LP lifted its holdings in Snap by 161.6% in the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after purchasing an additional 1,708 shares during the period. ICA Group Wealth Management LLC bought a new position in Snap in the 4th quarter valued at about $51,000. Finally, Rakuten Securities Inc. acquired a new position in Snap during the 4th quarter valued at about $73,000. Institutional investors own 47.52% of the company’s stock.

Analysts Set New Price Targets

SNAP has been the subject of a number of research analyst reports. UBS Group decreased their price objective on shares of Snap from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, April 16th. Canaccord Genuity Group lifted their price target on Snap from $14.00 to $15.00 and gave the company a “hold” rating in a research report on Friday. Wells Fargo & Company upped their price objective on Snap from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Friday. Truist Financial lifted their target price on Snap from $12.00 to $16.00 and gave the stock a “hold” rating in a report on Friday. Finally, Piper Sandler upped their price target on shares of Snap from $12.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Snap has an average rating of “Hold” and a consensus target price of $14.67.

Snap Stock Up 27.6 %

Shares of SNAP traded up $3.15 during midday trading on Friday, reaching $14.55. 159,811,902 shares of the stock were exchanged, compared to its average volume of 25,544,486. The company has a market cap of $24.02 billion, a price-to-earnings ratio of -17.94 and a beta of 1.13. The firm has a 50 day simple moving average of $11.26 and a 200-day simple moving average of $12.84. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55. Snap Inc. has a 12-month low of $7.86 and a 12-month high of $17.90.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Snap had a negative return on equity of 45.02% and a negative net margin of 26.99%. Research analysts forecast that Snap Inc. will post -0.58 EPS for the current year.

Insider Buying and Selling

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $11.53, for a total value of $207,540.00. Following the transaction, the general counsel now owns 474,812 shares of the company’s stock, valued at $5,474,582.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $11.53, for a total transaction of $207,540.00. Following the completion of the transaction, the general counsel now directly owns 474,812 shares in the company, valued at approximately $5,474,582.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Rebecca Morrow sold 9,386 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $11.14, for a total transaction of $104,560.04. Following the transaction, the chief accounting officer now directly owns 495,526 shares of the company’s stock, valued at approximately $5,520,159.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 470,482 shares of company stock worth $5,284,091. 22.68% of the stock is currently owned by insiders.

About Snap

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.