Swedbank Invests $115.67 Million in Snap Inc. (NYSE:SNAP)


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Swedbank purchased a new position in shares of Snap Inc. (NYSE:SNAP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,343,937 shares of the company’s stock, valued at approximately $115,673,000.

Several other hedge funds have also modified their holdings of SNAP. Equitable Holdings Inc. purchased a new stake in Snap in the fourth quarter valued at approximately $225,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Snap by 1.6% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 194,914 shares of the company’s stock valued at $9,759,000 after buying an additional 2,979 shares during the last quarter. ProShare Advisors LLC boosted its position in Snap by 10.1% in the fourth quarter. ProShare Advisors LLC now owns 43,852 shares of the company’s stock valued at $2,196,000 after buying an additional 4,030 shares during the last quarter. LifePro Asset Management boosted its position in Snap by 16.7% in the fourth quarter. LifePro Asset Management now owns 292,767 shares of the company’s stock valued at $14,659,000 after buying an additional 41,961 shares during the last quarter. Finally, CIBC World Markets Inc. purchased a new stake in Snap in the fourth quarter valued at approximately $945,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

In other Snap news, VP Jerry James Hunter sold 11,023 shares of the firm’s stock in a transaction on Tuesday, January 19th. The stock was sold at an average price of $50.37, for a total value of $555,228.51. Following the completion of the sale, the vice president now directly owns 1,765,717 shares of the company’s stock, valued at approximately $88,939,165.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jared Grusd sold 52,810 shares of the firm’s stock in a transaction on Tuesday, January 19th. The stock was sold at an average price of $50.37, for a total value of $2,660,039.70. Following the completion of the sale, the insider now directly owns 1,735,593 shares of the company’s stock, valued at $87,421,819.41. The disclosure for this sale can be found here. Over the last three months, insiders sold 238,092 shares of company stock valued at $12,715,251.

A number of equities research analysts recently commented on the company. JMP Securities upped their target price on Snap from $40.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, February 5th. Wedbush upped their price objective on Snap from $34.50 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, February 5th. They noted that the move was a valuation call. Cowen upped their price objective on Snap from $62.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, February 5th. Wells Fargo & Company upped their price objective on Snap from $44.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, January 28th. Finally, Cleveland Research started coverage on Snap in a research report on Thursday, December 17th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-eight have assigned a buy rating to the stock. Snap presently has an average rating of “Buy” and a consensus price target of $54.54.

NYSE SNAP opened at $61.36 on Tuesday. The business has a fifty day moving average price of $56.47 and a 200 day moving average price of $40.41. Snap Inc. has a one year low of $7.89 and a one year high of $67.50. The company has a debt-to-equity ratio of 0.75, a quick ratio of 5.43 and a current ratio of 5.43. The company has a market cap of $92.55 billion, a P/E ratio of -81.81 and a beta of 1.29.

Snap Profile

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images called Snaps. It also provides Camera, a tool to personalize and add context to Snaps; Chat that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community based on a user's subscriptions and interests.

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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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