Snap Inc. (NYSE:SNAP) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lifted its holdings in shares of Snap Inc. (NYSE:SNAP) by 43.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 166,592 shares of the company’s stock after purchasing an additional 50,622 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Snap were worth $2,767,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SNAP. Charles Schwab Investment Management Inc. raised its position in Snap by 7.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,444,341 shares of the company’s stock valued at $58,313,000 after purchasing an additional 230,815 shares during the period. Gryphon Financial Partners LLC acquired a new stake in shares of Snap in the fourth quarter valued at $204,000. NBC Securities Inc. raised its holdings in shares of Snap by 2,580.4% in the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after buying an additional 1,445 shares during the period. Dimensional Fund Advisors LP lifted its stake in Snap by 19.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,184,684 shares of the company’s stock worth $36,992,000 after acquiring an additional 351,837 shares in the last quarter. Finally, Westpac Banking Corp lifted its stake in Snap by 108.7% during the 4th quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock worth $81,000 after acquiring an additional 2,506 shares in the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SNAP has been the topic of a number of recent research reports. Morgan Stanley upgraded shares of Snap from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $12.00 to $16.00 in a research note on Tuesday, July 23rd. Susquehanna cut their target price on shares of Snap from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Bank of America decreased their price target on shares of Snap from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Truist Financial cut their price objective on Snap from $16.00 to $13.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Finally, Benchmark reiterated a “hold” rating on shares of Snap in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $13.87.

Snap Trading Up 2.0 %

NYSE SNAP opened at $9.51 on Friday. The firm’s fifty day moving average price is $11.39 and its 200 day moving average price is $12.86. Snap Inc. has a 12 month low of $8.28 and a 12 month high of $17.90. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98. The company has a market capitalization of $15.61 billion, a price-to-earnings ratio of -11.74 and a beta of 1.00.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.02. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.25 billion. On average, sell-side analysts expect that Snap Inc. will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $9.30, for a total value of $167,400.00. Following the completion of the sale, the general counsel now owns 456,662 shares in the company, valued at $4,246,956.60. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction on Friday, August 30th. The shares were sold at an average price of $9.30, for a total value of $167,400.00. Following the transaction, the general counsel now directly owns 456,662 shares in the company, valued at $4,246,956.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Eric Young sold 114,097 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.11, for a total transaction of $1,039,423.67. Following the sale, the senior vice president now owns 3,041,723 shares of the company’s stock, valued at approximately $27,710,096.53. The disclosure for this sale can be found here. Insiders have sold 1,352,420 shares of company stock worth $12,091,682 in the last quarter. 22.68% of the stock is owned by insiders.

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.