Tredje AP fonden Sells 79,977 Shares of Snap Inc. (NYSE:SNAP)

Tredje AP fonden reduced its stake in Snap Inc. (NYSE:SNAP) by 50.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,977 shares of the company’s stock after selling 79,977 shares during the quarter. Tredje AP fonden’s holdings in Snap were worth $861,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Citizens Financial Group Inc. RI increased its stake in shares of Snap by 182.5% during the fourth quarter. Citizens Financial Group Inc. RI now owns 30,602 shares of the company’s stock worth $330,000 after purchasing an additional 19,769 shares during the period. Independent Advisor Alliance increased its position in Snap by 19.4% during the 4th quarter. Independent Advisor Alliance now owns 20,105 shares of the company’s stock worth $217,000 after buying an additional 3,267 shares during the period. Inceptionr LLC bought a new position in Snap during the 4th quarter worth $145,000. Raymond James Financial Inc. bought a new stake in shares of Snap in the fourth quarter valued at about $3,291,000. Finally, Arizona State Retirement System grew its stake in shares of Snap by 2.7% in the fourth quarter. Arizona State Retirement System now owns 306,137 shares of the company’s stock valued at $3,297,000 after acquiring an additional 8,133 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on SNAP. Susquehanna lifted their price objective on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Guggenheim cut Snap from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price objective on shares of Snap in a report on Thursday, December 5th. Barclays reissued an “overweight” rating on shares of Snap in a report on Wednesday, February 5th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $16.00 price target (down previously from $18.00) on shares of Snap in a research note on Wednesday, January 15th. One equities research 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $36.87.

Insider Buying and Selling

In other Snap news, SVP Eric Young sold 102,152 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $1,107,327.68. Following the sale, the senior vice president now owns 3,443,419 shares of the company’s stock, valued at approximately $37,326,661.96. This represents a 2.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated 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. This trade represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,449,168 shares of company stock valued at $14,033,679 over the last ninety days. 22.68% of the stock is owned by company insiders.

Snap Price Performance

Shares of NYSE:SNAP opened at $8.64 on Friday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.33. The firm has a market cap of $14.65 billion, a PE ratio of -20.56 and a beta of 0.92. The firm’s fifty day moving average is $10.71 and its 200-day moving average is $10.79.

Snap (NYSE:SNAP) last announced its earnings results 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 return on equity of 25.67% and a negative net margin of 13.02%. Sell-side analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.

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.