Perpetual Ltd Sells 4,474 Shares of Snap Inc. (NYSE:SNAP)

Perpetual Ltd cut its stake in shares of Snap Inc. (NYSE:SNAP) by 15.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,782 shares of the company’s stock after selling 4,474 shares during the quarter. Perpetual Ltd’s holdings in Snap were worth $256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC lifted its position in Snap by 5.2% during the third quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company’s stock valued at $124,742,000 after purchasing an additional 575,324 shares during the last quarter. TB Alternative Assets Ltd. lifted its position in Snap by 105.6% during the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after purchasing an additional 4,098,847 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Snap by 62.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after purchasing an additional 2,386,519 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Snap by 49.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock valued at $41,842,000 after purchasing an additional 1,297,348 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Snap by 51.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company’s stock worth $33,244,000 after acquiring an additional 1,050,501 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on SNAP. Stifel Nicolaus decreased their price target on shares of Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, October 14th. B. Riley lifted their price target on shares of Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Bank of America lifted their price target on shares of Snap from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group lifted their price target on shares of Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald lifted their price target on shares of Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Snap has a consensus rating of “Hold” and a consensus price target of $36.99.

Insider Buying and Selling

In related news, Director Joanna Coles sold 6,434 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $12.00, for a total value of $77,208.00. Following the transaction, the director now owns 54,761 shares in the company, valued at $657,132. The trade was a 10.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $10.84, for a total transaction of $195,120.00. Following the completion of the transaction, the general counsel now owns 498,498 shares in the company, valued at approximately $5,403,718.32. The trade was a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,451,618 shares of company stock worth $17,560,157 in the last quarter. Corporate insiders own 22.68% of the company’s stock.

Snap Stock Performance

Shares of SNAP stock opened at $10.57 on Friday. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.50. The stock has a market cap of $17.72 billion, a PE ratio of -18.22 and a beta of 0.98. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The company’s fifty day moving average price is $11.48 and its 200-day moving average price is $11.22.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the business posted ($0.21) EPS. The company’s quarterly revenue was up 15.4% on a year-over-year basis. On average, equities analysts expect that Snap Inc. will post -0.39 EPS 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.