Victory Capital Management Inc. Boosts Stock Position in Snap Inc. (NYSE:SNAP)

Victory Capital Management Inc. raised its stake in Snap Inc. (NYSE:SNAP) by 1.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 286,080 shares of the company’s stock after buying an additional 4,808 shares during the quarter. Victory Capital Management Inc.’s holdings in Snap were worth $3,081,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNAP. United Bank purchased a new position in Snap in the third quarter valued at about $177,000. GSA Capital Partners LLP grew its stake in Snap by 166.9% in the third quarter. GSA Capital Partners LLP now owns 68,150 shares of the company’s stock valued at $729,000 after purchasing an additional 42,612 shares during the last quarter. Metis Global Partners LLC grew its stake in Snap by 6.9% in the third quarter. Metis Global Partners LLC now owns 19,352 shares of the company’s stock valued at $207,000 after purchasing an additional 1,255 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new stake in shares of Snap during the third quarter worth about $122,000. Finally, CIBC Asset Management Inc grew its stake in shares of Snap by 5.1% during the third quarter. CIBC Asset Management Inc now owns 47,648 shares of the company’s stock worth $510,000 after acquiring an additional 2,326 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Insider Transactions at Snap

In other news, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the completion of the transaction, the chief technology officer now directly owns 55,818,548 shares of the company’s stock, valued at $504,599,673.92. This represents a 1.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Rebecca Morrow sold 8,837 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $95,793.08. Following the completion of the transaction, the chief accounting officer now directly owns 429,892 shares of the company’s stock, valued at approximately $4,660,029.28. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,295,231 shares of company stock valued at $12,272,639 in the last three months. 22.68% of the stock is currently owned by company insiders.

Snap Trading Up 3.2 %

Shares of SNAP stock opened at $8.64 on Monday. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. The company has a market cap of $14.65 billion, a price-to-earnings ratio of -20.56 and a beta of 0.92. The stock has a 50 day simple moving average of $10.71 and a 200-day simple moving average of $10.80. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.33.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SNAP shares. Citizens Jmp lowered Snap from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 5th. BMO Capital Markets restated an “outperform” rating and set a $16.00 price target (down previously from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Wells Fargo & Company lowered Snap from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $15.00 to $11.00 in a research note on Wednesday, February 5th. Bank of America boosted their price target on Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, Susquehanna boosted their price target on 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $36.87.

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.