Mn Services Vermogensbeheer B.V. Sells 17,600 Shares of Snap Inc. (NYSE:SNAP)

Mn Services Vermogensbeheer B.V. lessened its holdings in Snap Inc. (NYSE:SNAP) by 3.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 456,600 shares of the company’s stock after selling 17,600 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Snap were worth $7,730,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Snap by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company’s stock valued at $818,067,000 after purchasing an additional 1,352,655 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Snap by 95.8% during the 1st quarter. Wellington Management Group LLP now owns 17,811,242 shares of the company’s stock worth $641,028,000 after acquiring an additional 8,712,380 shares during the period. Artisan Partners Limited Partnership increased its holdings in shares of Snap by 4.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 8,267,765 shares of the company’s stock worth $73,666,000 after acquiring an additional 327,038 shares during the last quarter. Capital International Investors raised its stake in Snap by 96.8% in the 1st quarter. Capital International Investors now owns 5,263,312 shares of the company’s stock valued at $189,427,000 after acquiring an additional 2,588,200 shares during the period. Finally, Northern Trust Corp lifted its holdings in Snap by 0.7% during the 1st quarter. Northern Trust Corp now owns 4,464,919 shares of the company’s stock valued at $160,693,000 after purchasing an additional 31,671 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $11.53, for a total transaction of $207,540.00. Following the completion of the transaction, the general counsel now owns 474,812 shares of the company’s stock, valued at $5,474,582.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $11.53, for a total value of $207,540.00. Following the completion of the sale, the general counsel now owns 474,812 shares of the company’s stock, valued at $5,474,582.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Derek Andersen sold 96,953 shares of Snap stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $10.99, for a total value of $1,065,513.47. Following the completion of the transaction, the chief financial officer now directly owns 2,534,689 shares in the company, valued at $27,856,232.11. The disclosure for this sale can be found here. Insiders have sold a total of 470,054 shares of company stock worth $5,279,729 in the last ninety days.

Analyst Ratings Changes

SNAP has been the topic of several research analyst reports. The Goldman Sachs Group dropped their price objective on shares of Snap from $15.00 to $13.50 and set a “neutral” rating on the stock in a research report on Thursday, February 8th. Stifel Nicolaus boosted their price objective on Snap from $10.00 to $14.00 and gave the stock a “hold” rating in a report on Tuesday, January 9th. Guggenheim upgraded Snap from a “neutral” rating to a “buy” rating and increased their target price for the stock from $9.00 to $23.00 in a research note on Monday, December 18th. Piper Sandler boosted their price target on Snap from $12.00 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. Finally, BMO Capital Markets dropped their target price on Snap from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Snap currently has a consensus rating of “Hold” and an average target price of $13.70.

Snap Price Performance

SNAP opened at $10.34 on Tuesday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 4.39. The company’s 50 day moving average is $11.35 and its 200-day moving average is $12.72. Snap Inc. has a 1-year low of $7.86 and a 1-year high of $17.90.

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

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.