Groupama Asset Managment Cuts Stock Position in Snap Inc. $SNAP

Groupama Asset Managment reduced its position in Snap Inc. (NYSE:SNAP) by 1.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,200,000 shares of the company’s stock after selling 17,946 shares during the quarter. Groupama Asset Managment owned 0.07% of Snap worth $10,452,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Snap by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 109,483,491 shares of the company’s stock valued at $953,601,000 after acquiring an additional 6,921,841 shares during the last quarter. SRS Investment Management LLC lifted its stake in shares of Snap by 1.4% in the 4th quarter. SRS Investment Management LLC now owns 73,723,115 shares of the company’s stock valued at $793,998,000 after acquiring an additional 1,001,632 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Snap by 5.5% in the 1st quarter. Deutsche Bank AG now owns 9,526,590 shares of the company’s stock valued at $82,977,000 after acquiring an additional 499,395 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Snap by 13.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,075,318 shares of the company’s stock valued at $76,201,000 after acquiring an additional 828,285 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Snap by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,925,956 shares of the company’s stock valued at $60,325,000 after acquiring an additional 324,784 shares during the last quarter. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Snap Stock Performance

Snap stock opened at $7.34 on Tuesday. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $12.40 billion, a P/E ratio of -22.94 and a beta of 0.62. The stock’s 50 day moving average is $8.76 and its 200 day moving average is $8.92. Snap Inc. has a twelve month low of $7.06 and a twelve month high of $13.28.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.16) earnings per share for the quarter, hitting the consensus estimate of ($0.16). The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. Snap had a negative return on equity of 23.32% and a negative net margin of 9.69%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.15) EPS. On average, equities research analysts predict that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Derek Andersen sold 33,886 shares of the business’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $8.04, for a total value of $272,443.44. Following the completion of the transaction, the chief financial officer owned 3,204,418 shares in the company, valued at $25,763,520.72. The trade was a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Michael J. O’sullivan sold 24,000 shares of the company’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $9.57, for a total value of $229,680.00. Following the transaction, the general counsel directly owned 486,984 shares in the company, valued at approximately $4,660,436.88. The trade was a 4.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,202,570 shares of company stock worth $9,525,096.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SNAP shares. Piper Sandler lowered their target price on Snap from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $12.00 target price on shares of Snap in a research note on Wednesday, April 30th. JMP Securities reissued a “market perform” rating on shares of Snap in a research note on Wednesday, August 6th. Loop Capital lowered their price target on Snap from $16.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, May 16th. Finally, UBS Group lowered their price target on Snap from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Two analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $34.16.

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.