Mizuho Markets Americas LLC Reduces Holdings in Snap Inc. (NYSE:SNAP)

Mizuho Markets Americas LLC decreased its position in shares of Snap Inc. (NYSE:SNAP) by 16.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 59,752 shares of the company’s stock after selling 12,000 shares during the period. Mizuho Markets Americas LLC’s holdings in Snap were worth $639,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. TB Alternative Assets Ltd. lifted its position in Snap by 105.6% during the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after buying an additional 4,098,847 shares during the period. Aigen Investment Management LP purchased a new position in shares of Snap during the third quarter valued at approximately $1,345,000. Dynamic Advisor Solutions LLC bought a new stake in shares of Snap in the 3rd quarter worth approximately $832,000. Exchange Traded Concepts LLC grew its stake in shares of Snap by 38.7% in the third quarter. Exchange Traded Concepts LLC now owns 784,982 shares of the company’s stock worth $8,399,000 after acquiring an additional 219,111 shares during the last quarter. Finally, APG Asset Management N.V. grew its position in Snap by 3.9% during the 2nd quarter. APG Asset Management N.V. now owns 2,957,491 shares of the company’s stock valued at $45,835,000 after purchasing an additional 112,135 shares during the last quarter. Institutional investors own 47.52% of the company’s stock.

Insider Activity

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $12.50, for a total transaction of $12,500,000.00. Following the transaction, the chief technology officer now directly owns 57,210,989 shares of the company’s stock, valued at approximately $715,137,362.50. The trade was a 1.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $9.30, for a total transaction of $167,400.00. Following the completion of the sale, the general counsel now directly owns 456,662 shares of the company’s stock, valued at $4,246,956.60. This trade represents a 3.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,221,220 shares of company stock valued at $14,659,201 over the last 90 days. Insiders own 22.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SNAP. Wells Fargo & Company reduced their price objective on Snap from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Roth Mkm reaffirmed a “neutral” rating and issued a $14.00 target price on shares of Snap in a report on Wednesday, September 18th. Canaccord Genuity Group lifted their price target on shares of Snap from $12.00 to $13.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. B. Riley boosted their price objective on Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, UBS Group raised their target price on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Snap currently has a consensus rating of “Hold” and a consensus price target of $14.31.

Snap Price Performance

Snap stock opened at $10.60 on Friday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The firm’s 50-day simple moving average is $10.68 and its 200 day simple moving average is $12.67. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.90.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.21) EPS. On average, equities analysts predict that Snap Inc. will post -0.41 EPS for the current year.

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.