Sumitomo Mitsui Trust Group Inc. Grows Position in Snap Inc. (NYSE:SNAP)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Snap Inc. (NYSE:SNAP) by 0.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,245,128 shares of the company’s stock after purchasing an additional 15,294 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.19% of Snap worth $34,950,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in shares of Snap during the third quarter worth $29,000. Paladin Wealth LLC acquired a new stake in shares of Snap during the third quarter worth $30,000. Advisors Asset Management Inc. boosted its holdings in shares of Snap by 141.9% during the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after purchasing an additional 1,632 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Snap during the third quarter worth $41,000. Finally, Blue Trust Inc. boosted its holdings in shares of Snap by 136.3% during the fourth quarter. Blue Trust Inc. now owns 4,529 shares of the company’s stock worth $48,000 after purchasing an additional 2,612 shares during the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Citigroup lifted their target price on Snap from $13.00 to $13.50 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Canaccord Genuity Group lifted their target price on Snap from $12.00 to $13.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. BMO Capital Markets reiterated an “outperform” rating and issued a $16.00 target price (down previously from $18.00) on shares of Snap in a report on Wednesday, January 15th. B. Riley lifted their target price on Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. reduced their target price on Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Snap has a consensus rating of “Hold” and a consensus target price of $36.87.

Insiders Place Their Bets

In other news, General Counsel Michael J. O’sullivan sold 12,315 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.54, for a total value of $129,800.10. Following the sale, the general counsel now directly owns 1,195,567 shares of the company’s stock, valued at approximately $12,601,276.18. This trade represents a 1.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Rebecca Morrow sold 32,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $12.42, for a total value of $397,440.00. Following the completion of the sale, the chief accounting officer now directly owns 433,064 shares in the company, valued at approximately $5,378,654.88. This represents a 6.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 443,518 shares of company stock valued at $4,947,981 over the last three months. 22.68% of the stock is currently owned by insiders.

Snap Trading Up 1.7 %

Snap stock opened at $10.90 on Wednesday. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 4.04. The company has a market capitalization of $18.27 billion, a price-to-earnings ratio of -25.94 and a beta of 0.99. Snap Inc. has a one year low of $8.29 and a one year high of $17.33. The company’s fifty day moving average price is $11.40 and its two-hundred day moving average price is $10.78.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. On average, analysts forecast that Snap Inc. will post -0.26 earnings per share for the current fiscal year.

About Snap

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.