Vanguard Group Inc. Sells 1,195,897 Shares of Snap Inc. (NYSE:SNAP)

Vanguard Group Inc. lowered its position in shares of Snap Inc. (NYSE:SNAP) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 102,561,650 shares of the company’s stock after selling 1,195,897 shares during the quarter. Vanguard Group Inc. owned about 0.06% of Snap worth $1,104,589,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its position in shares of Snap by 141.9% during 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 in the last quarter. Comprehensive Financial Planning Inc. PA bought a new position in shares of Snap during the 4th quarter worth approximately $32,000. Brooklyn Investment Group bought a new position in shares of Snap during the 3rd quarter worth approximately $41,000. Blue Trust Inc. grew its position in shares of Snap by 128.0% during the 4th quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock worth $47,000 after buying an additional 2,453 shares during the period. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new stake in shares of Snap in the 4th quarter valued at $54,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Snap news, CFO Derek Andersen sold 33,618 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $8.83, for a total transaction of $296,846.94. Following the sale, the chief financial officer now owns 3,507,897 shares in the company, valued at $30,974,730.51. This represents a 0.95 % decrease in their ownership of the stock. The transaction 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 Snap stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $10.84, for a total value of $195,120.00. Following the completion of the transaction, the general counsel now owns 498,498 shares of the company’s stock, valued at approximately $5,403,718.32. This trade represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,350,523 shares of company stock valued at $12,698,797 in the last 90 days. Insiders own 22.68% of the company’s stock.

Snap Stock Down 3.2 %

SNAP opened at $8.88 on Friday. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.33. The company’s 50-day moving average price is $10.16 and its two-hundred day moving average price is $10.79. The stock has a market cap of $15.06 billion, a price-to-earnings ratio of -21.13 and a beta of 0.92. 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 posted its quarterly earnings data 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 net margin of 13.02% and a negative return on equity of 25.67%. As a group, equities analysts expect that Snap Inc. will post -0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SNAP. JPMorgan Chase & Co. decreased their price target on shares of Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Wednesday, February 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $16.00 target price on shares of Snap in a research report on Monday, January 27th. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price target on shares of Snap in a report on Thursday, December 5th. 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. Finally, Citizens Jmp lowered Snap from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Snap presently has an average rating of “Hold” and a consensus price target of $36.87.

Snap 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.