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

Vanguard Group Inc. lowered its stake in shares of Snap Inc. (NYSE:SNAP) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 102,561,650 shares of the company’s stock after selling 1,195,897 shares during the period. Vanguard Group Inc. owned 6.12% of Snap worth $1,104,589,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. United Bank acquired a new stake in Snap in the third quarter valued at $177,000. Quest Partners LLC bought a new stake in shares of Snap in the 3rd quarter valued at about $81,000. Advisors Asset Management Inc. lifted its stake in 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 last quarter. Intech Investment Management LLC grew its holdings in Snap by 1.9% during the third quarter. Intech Investment Management LLC now owns 77,592 shares of the company’s stock worth $830,000 after purchasing an additional 1,433 shares during the period. Finally, Charles Schwab Investment Management Inc. increased 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 worth $66,462,000 after buying an additional 2,386,519 shares during the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Insider Transactions at Snap

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction 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 sale, the chief technology officer now directly owns 55,818,548 shares in the company, valued at $504,599,673.92. This represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Rebecca Morrow sold 8,837 shares of Snap stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $95,793.08. Following the transaction, the chief accounting officer now directly owns 429,892 shares in the company, valued at $4,660,029.28. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,350,523 shares of company stock worth $12,698,797. Insiders own 22.68% of the company’s stock.

Analyst Ratings Changes

SNAP has been the subject of several research analyst reports. Bank of America lifted their target price on Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price objective on shares of Snap in a report on Thursday, December 5th. Citigroup raised their target price on shares of Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Barclays reissued an “overweight” rating on shares of Snap in a report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. reduced their price objective on Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $36.87.

Snap Price Performance

Shares of NYSE:SNAP opened at $8.88 on Friday. The firm has a 50 day simple moving average of $10.16 and a 200 day simple moving average of $10.79. The company has a market cap of $15.06 billion, a price-to-earnings ratio of -21.13 and a beta of 0.92. Snap Inc. has a one year low of $8.29 and a one year high of $17.33. 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 (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. Research analysts predict that Snap Inc. will post -0.3 earnings per share 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.