SBI Securities Co. Ltd. Buys Shares of 30,684 Snap Inc. (NYSE:SNAP)

SBI Securities Co. Ltd. bought a new stake in shares of Snap Inc. (NYSE:SNAP) in the fourth quarter, Holdings Channel reports. The firm bought 30,684 shares of the company’s stock, valued at approximately $330,000.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 purchasing an additional 2,386,519 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of 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 valued at $41,842,000 after purchasing an additional 1,297,348 shares in the last quarter. Groupama Asset Managment bought a new position in shares of Snap during the 3rd quarter valued at $13,032,000. Assenagon Asset Management S.A. raised its holdings in shares of Snap by 51.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company’s stock valued at $33,244,000 after purchasing an additional 1,050,501 shares in the last quarter. Finally, Senvest Management LLC bought a new position in shares of Snap during the 3rd quarter valued at $10,064,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SNAP shares. Citigroup raised their price target on shares of Snap from $13.00 to $13.50 and gave the company a “neutral” rating in a report on Wednesday, February 5th. JMP Securities reiterated a “market outperform” rating and issued a $16.00 target price on shares of Snap in a report on Monday, January 27th. BMO Capital Markets reiterated an “outperform” rating and issued a $16.00 target price (down previously from $18.00) on shares of Snap in a report on Wednesday, January 15th. Guggenheim downgraded shares of Snap from a “buy” rating to a “neutral” rating in a report on Tuesday, February 11th. Finally, Citizens Jmp downgraded shares of Snap from a “strong-buy” rating to a “hold” rating 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $36.87.

Insider Activity

In other Snap news, CFO Derek Andersen sold 17,789 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $12.00, for a total value of $213,468.00. Following the transaction, the chief financial officer now directly owns 2,176,017 shares in the company, valued at $26,112,204. The trade was a 0.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Rebecca Morrow sold 32,000 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $12.42, for a total transaction of $397,440.00. Following the completion of the transaction, the chief accounting officer now owns 433,064 shares in the company, valued at approximately $5,378,654.88. This trade represents a 6.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 481,471 shares of company stock worth $5,394,906. Corporate insiders own 22.68% of the company’s stock.

Snap Price Performance

Shares of Snap stock opened at $9.81 on Thursday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The firm’s 50-day simple moving average is $11.03 and its 200-day simple moving average is $10.82. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.33. The firm has a market cap of $16.63 billion, a P/E ratio of -23.34 and a beta of 0.92.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share 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, research analysts expect that Snap Inc. will post -0.3 EPS for the current fiscal 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.