Snap Inc. (NYSE:SNAP) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. decreased its position in Snap Inc. (NYSE:SNAP) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,168,007 shares of the company’s stock after selling 133,293 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Snap were worth $70,564,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SNAP. Acadian Asset Management LLC grew its position in Snap by 72.6% in the first quarter. Acadian Asset Management LLC now owns 8,456 shares of the company’s stock valued at $304,000 after acquiring an additional 3,556 shares in the last quarter. Raymond James Trust N.A. grew its position in shares of Snap by 28.6% during the first quarter. Raymond James Trust N.A. now owns 8,708 shares of the company’s stock worth $313,000 after buying an additional 1,936 shares in the last quarter. Cibc World Market Inc. grew its position in shares of Snap by 9.4% during the first quarter. Cibc World Market Inc. now owns 23,977 shares of the company’s stock worth $863,000 after buying an additional 2,061 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Snap by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 786,417 shares of the company’s stock worth $28,305,000 after buying an additional 5,182 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Snap during the first quarter worth approximately $3,216,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Analyst Upgrades and Downgrades

SNAP has been the subject of a number of recent analyst reports. Rosenblatt Securities raised their price target on shares of Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Stifel Nicolaus decreased their price target on shares of Snap from $14.00 to $12.00 and set a “hold” rating for the company in a research report on Tuesday. Wells Fargo & Company decreased their price target on shares of Snap from $22.00 to $16.00 and set an “overweight” rating for the company in a research report on Wednesday, February 7th. The Goldman Sachs Group decreased their price target on shares of Snap from $15.00 to $13.50 and set a “neutral” rating for the company in a research report on Thursday, February 8th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Snap from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $10.00 to $19.00 in a report on Friday, January 26th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Snap has an average rating of “Hold” and a consensus price target of $13.86.

Insiders Place Their Bets

In other Snap news, CFO Derek Andersen sold 96,953 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $10.99, for a total value of $1,065,513.47. Following the sale, the chief financial officer now directly owns 2,534,689 shares in the company, valued at $27,856,232.11. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Snap news, CFO Derek Andersen sold 96,953 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $10.99, for a total value of $1,065,513.47. Following the sale, the chief financial officer now directly owns 2,534,689 shares in the company, valued at $27,856,232.11. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Rebecca Morrow sold 2,442 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $11.00, for a total transaction of $26,862.00. Following the completion of the sale, the chief accounting officer now owns 493,084 shares in the company, valued at $5,423,924. The disclosure for this sale can be found here. Over the last three months, insiders have sold 470,054 shares of company stock worth $5,279,729. 22.68% of the stock is owned by corporate insiders.

Snap Price Performance

Shares of NYSE SNAP opened at $10.90 on Thursday. Snap Inc. has a fifty-two week low of $7.86 and a fifty-two week high of $17.90. The firm’s 50-day simple moving average is $11.19 and its 200 day simple moving average is $12.71. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55. The stock has a market cap of $17.99 billion, a P/E ratio of -13.13 and a beta of 1.13.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, February 6th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Equities analysts expect that Snap Inc. will post -0.58 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.