Snap Inc. (NYSE:SNAP) Stock Holdings Lessened by Primecap Management Co. CA

Primecap Management Co. CA cut its stake in shares of Snap Inc. (NYSE:SNAP) by 74.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,250 shares of the company’s stock after selling 92,500 shares during the quarter. Primecap Management Co. CA’s holdings in Snap were worth $337,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Advisors Asset Management Inc. boosted its position in shares of Snap by 141.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after purchasing an additional 1,632 shares during the period. Comprehensive Financial Planning Inc. PA purchased a new stake in Snap during the fourth quarter valued at about $32,000. Brooklyn Investment Group purchased a new position in shares of Snap in the third quarter worth approximately $41,000. Blue Trust Inc. raised its holdings in shares of Snap by 128.0% during the fourth quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock valued at $47,000 after acquiring an additional 2,453 shares during the period. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new stake in shares of Snap during the fourth quarter valued at approximately $54,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SNAP shares. Bank of America lifted their price objective on shares of Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. dropped their price target on Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 5th. JMP Securities restated a “market outperform” rating and set a $16.00 price objective on shares of Snap in a research report on Monday, January 27th. Citizens Jmp downgraded Snap from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Guggenheim cut shares of Snap from a “buy” rating to a “neutral” rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Snap has a consensus rating of “Hold” and an average price target of $36.87.

Insider Transactions at Snap

In related news, CFO Derek Andersen sold 33,618 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $8.83, for a total transaction of $296,846.94. Following the transaction, the chief financial officer now directly owns 3,507,897 shares in the company, valued at $30,974,730.51. The trade was a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $10.84, for a total value of $195,120.00. Following the completion of the sale, the general counsel now owns 498,498 shares of the company’s stock, valued at $5,403,718.32. This represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,350,523 shares of company stock worth $12,698,797 over the last three months. 22.68% of the stock is currently owned by insiders.

Snap Stock Performance

Shares of SNAP opened at $9.06 on Thursday. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. 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 $10.56 and its 200 day moving average price is $10.80. The company has a market capitalization of $15.36 billion, a PE ratio of -21.56 and a beta of 0.92.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share 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%. As a group, analysts expect that Snap Inc. will post -0.3 earnings per share for the current 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.