Snap Inc. (NYSE:SNAP) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in shares of Snap Inc. (NYSE:SNAP) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,538,111 shares of the company’s stock after acquiring an additional 29,526 shares during the period. Bank of New York Mellon Corp’s holdings in Snap were worth $16,565,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of Snap by 5.2% during the 3rd 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. Charles Schwab Investment Management Inc. lifted its position in shares of Snap by 62.4% during the 3rd 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. lifted its position in shares of Snap by 49.6% during the 3rd 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. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Snap by 0.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,245,128 shares of the company’s stock valued at $34,950,000 after acquiring an additional 15,294 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of Snap by 51.6% during the 4th 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. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Snap Stock Down 2.7 %

Shares of NYSE SNAP opened at $8.84 on Wednesday. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $14.99 billion, a PE ratio of -21.04 and a beta of 0.92. The firm has a fifty day moving average of $10.91 and a 200-day moving average of $10.82. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.33.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates 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 anticipate that Snap Inc. will post -0.3 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on SNAP. Barclays reiterated an “overweight” rating on shares of Snap in a research report on Wednesday, February 5th. JMP Securities reissued a “market outperform” rating and set a $16.00 price objective on shares of Snap in a research note on Monday, January 27th. Guggenheim cut shares of Snap from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 11th. BMO Capital Markets reissued an “outperform” rating and set a $16.00 price objective (down from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Finally, Susquehanna raised their price objective on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Snap presently has an average rating of “Hold” and a consensus target price of $36.87.

Insider Buying and Selling

In other Snap news, SVP Eric Young sold 102,152 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $1,107,327.68. Following the completion of the transaction, the senior vice president now directly owns 3,443,419 shares of the company’s stock, valued at $37,326,661.96. This represents a 2.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Derek Andersen sold 94,164 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $11.44, for a total transaction of $1,077,236.16. Following the completion of the transaction, the chief financial officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 449,168 shares of company stock valued at $4,993,679. Company insiders own 22.68% of the company’s stock.

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.