Nikko Asset Management Americas Inc. Sells 137,831 Shares of Snap Inc. (NYSE:SNAP)

Nikko Asset Management Americas Inc. trimmed its holdings in shares of Snap Inc. (NYSE:SNAP) by 10.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,148,868 shares of the company’s stock after selling 137,831 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Snap were worth $12,373,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Checchi Capital Advisers LLC lifted its position in shares of Snap by 3.0% during the fourth quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company’s stock worth $335,000 after purchasing an additional 901 shares during the last quarter. HCR Wealth Advisors raised its holdings in shares of Snap by 3.9% in the fourth quarter. HCR Wealth Advisors now owns 25,016 shares of the company’s stock valued at $269,000 after acquiring an additional 934 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Snap by 3.1% in the fourth quarter. Empowered Funds LLC now owns 35,639 shares of the company’s stock valued at $384,000 after acquiring an additional 1,055 shares in the last quarter. Metis Global Partners LLC raised its holdings in shares of Snap by 6.9% in the third quarter. Metis Global Partners LLC now owns 19,352 shares of the company’s stock valued at $207,000 after acquiring an additional 1,255 shares in the last quarter. Finally, Gradient Investments LLC raised its holdings in shares of Snap by 0.9% in the fourth quarter. Gradient Investments LLC now owns 142,144 shares of the company’s stock valued at $1,531,000 after acquiring an additional 1,310 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors.

Snap Price Performance

Shares of NYSE SNAP opened at $8.64 on Monday. The business’s 50 day moving average price is $10.71 and its 200 day moving average price is $10.80. The firm has a market cap of $14.65 billion, a P/E ratio of -20.56 and a beta of 0.92. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.33. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. On average, sell-side analysts expect that Snap Inc. will post -0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wells Fargo & Company downgraded Snap from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $15.00 to $11.00 in a report on Wednesday, February 5th. Guggenheim downgraded Snap from a “buy” rating to a “neutral” rating in a report on Tuesday, February 11th. Citizens Jmp downgraded Snap from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 5th. BMO Capital Markets restated an “outperform” rating and issued a $16.00 price objective (down from $18.00) on shares of Snap in a report on Wednesday, January 15th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $16.00 target price on shares of Snap in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Snap has an average rating of “Hold” and an average price target of $36.87.

Insider Buying and Selling at Snap

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $9.04, for a total value of $9,040,000.00. Following the completion of the transaction, the chief technology officer now directly owns 55,818,548 shares of the company’s stock, valued at approximately $504,599,673.92. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Derek Andersen sold 17,789 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $12.00, for a total value of $213,468.00. Following the completion of the transaction, the chief financial officer now directly owns 2,176,017 shares of the company’s stock, valued at $26,112,204. The trade was a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,295,231 shares of company stock valued at $12,272,639. 22.68% of the stock is owned by company insiders.

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.