Swedbank AB Sells 570,200 Shares of Snap Inc. (NYSE:SNAP)

Swedbank AB lessened its stake in shares of Snap Inc. (NYSE:SNAP) by 78.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 152,563 shares of the company’s stock after selling 570,200 shares during the quarter. Swedbank AB’s holdings in Snap were worth $1,632,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SNAP. Dynamic Advisor Solutions LLC bought a new position in shares of Snap during the third quarter valued at $832,000. Exchange Traded Concepts LLC lifted its holdings in Snap by 38.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 784,982 shares of the company’s stock valued at $8,399,000 after purchasing an additional 219,111 shares during the last quarter. APG Asset Management N.V. boosted its position in Snap by 3.9% in the second quarter. APG Asset Management N.V. now owns 2,957,491 shares of the company’s stock valued at $45,835,000 after buying an additional 112,135 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Snap during the first quarter worth about $3,233,000. Finally, Marshall Wace LLP increased its holdings in shares of Snap by 587.3% during the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock worth $243,629,000 after buying an additional 12,533,653 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SNAP shares. Citigroup reduced their price objective on Snap from $16.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. B. Riley started coverage on shares of Snap in a research report on Friday, September 20th. They set a “neutral” rating and a $11.00 price target on the stock. Argus upgraded shares of Snap to a “hold” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. reduced their target price on shares of Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. Finally, Benchmark reissued a “hold” rating on shares of Snap in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, twenty-four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Snap presently has an average rating of “Hold” and a consensus target price of $13.77.

Insider Buying and Selling at Snap

In other news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the transaction, the chief technology officer now owns 58,553,813 shares of the company’s stock, valued at $508,832,634.97. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the transaction, the chief technology officer now owns 58,553,813 shares in the company, valued at approximately $508,832,634.97. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $81,199.30. Following the completion of the sale, the chief accounting officer now owns 472,405 shares in the company, valued at $4,298,885.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,510,352 shares of company stock valued at $13,446,353. Corporate insiders own 22.68% of the company’s stock.

Snap Stock Up 0.4 %

Shares of Snap stock opened at $10.50 on Friday. The stock’s 50-day moving average is $9.83 and its 200 day moving average is $12.70. Snap Inc. has a one year low of $8.29 and a one year high of $17.90. The firm has a market cap of $17.23 billion, a price-to-earnings ratio of -12.96 and a beta of 1.01. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. Equities research analysts anticipate that Snap Inc. will post -0.47 EPS for the current 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.