Swedbank AB Increases Position in Snap Inc. (NYSE:SNAP)

Swedbank AB boosted its holdings in Snap Inc. (NYSE:SNAP) by 9.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 167,431 shares of the company’s stock after purchasing an additional 14,868 shares during the period. Swedbank AB’s holdings in Snap were worth $1,803,000 at the end of the most recent reporting period.

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

Insider Transactions at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction 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 transaction, the general counsel now owns 498,498 shares of the company’s stock, valued at approximately $5,403,718.32. This represents a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eric Young sold 112,020 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.55, for a total value of $1,181,811.00. Following the sale, the senior vice president now owns 2,791,048 shares of the company’s stock, valued at $29,445,556.40. This trade represents a 3.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 427,184 shares of company stock valued at $4,761,369. Corporate insiders own 22.68% of the company’s stock.

Analysts Set New Price Targets

SNAP has been the subject of a number of research reports. Canaccord Genuity Group lifted their price target on Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Bank of America lifted their target price on Snap from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. 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. Cantor Fitzgerald raised their price objective on Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group boosted their target price on shares of Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $36.99.

Snap Stock Performance

SNAP opened at $11.31 on Monday. The business has a 50 day moving average price of $11.53 and a two-hundred day moving average price of $10.93. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. The company has a market capitalization of $18.96 billion, a price-to-earnings ratio of -19.49 and a beta of 0.98. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.50.

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.