Mn Services Vermogensbeheer B.V. Reduces Stock Holdings in Snap Inc. (NYSE:SNAP)

Mn Services Vermogensbeheer B.V. reduced its holdings in shares of Snap Inc. (NYSE:SNAP) by 2.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 401,800 shares of the company’s stock after selling 9,900 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Snap were worth $4,299,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNAP. Private Advisor Group LLC lifted its stake in shares of Snap by 69.6% during the 1st quarter. Private Advisor Group LLC now owns 77,061 shares of the company’s stock worth $885,000 after acquiring an additional 31,631 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Snap by 51.1% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 80,821 shares of the company’s stock worth $928,000 after acquiring an additional 27,335 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Snap by 37.0% during the 1st quarter. Empowered Funds LLC now owns 30,878 shares of the company’s stock worth $354,000 after acquiring an additional 8,338 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Snap by 2,224.6% during the 1st quarter. SG Americas Securities LLC now owns 343,486 shares of the company’s stock worth $3,943,000 after acquiring an additional 328,710 shares during the last quarter. Finally, Illinois Municipal Retirement Fund raised its position in Snap by 3.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 348,462 shares of the company’s stock valued at $4,000,000 after purchasing an additional 11,804 shares in the last quarter. 47.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SNAP shares. Benchmark reaffirmed a “hold” rating on shares of Snap in a research report on Friday, October 25th. Argus raised Snap to a “hold” rating in a research report on Thursday, August 8th. Loop Capital boosted their price target on Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday. Canaccord Genuity Group boosted their price target on Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Finally, JMP Securities reduced their price target on Snap from $17.00 to $16.00 and set a “market outperform” rating for the company in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $14.31.

Insider Activity

In other news, CAO Rebecca Morrow sold 8,923 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.10, for a total value of $81,199.30. Following the completion of the transaction, the chief accounting officer now owns 472,405 shares of the company’s stock, valued at $4,298,885.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Rebecca Morrow sold 8,923 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.10, for a total value of $81,199.30. Following the completion of the transaction, the chief accounting officer now owns 472,405 shares of the company’s stock, valued at approximately $4,298,885.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Derek Andersen sold 97,608 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $9.29, for a total value of $906,778.32. Following the completion of the transaction, the chief financial officer now directly owns 2,287,970 shares of the company’s stock, valued at $21,255,241.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,365,051 shares of company stock valued at $15,965,178 in the last quarter.

Snap Stock Down 3.1 %

Snap stock opened at $11.81 on Thursday. The company has a market cap of $19.60 billion, a PE ratio of -20.36 and a beta of 0.99. The business’s 50-day simple moving average is $10.34 and its two-hundred day simple moving average is $12.73. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.90.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.21) EPS. Equities analysts anticipate that Snap Inc. will post -0.41 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.