Snap Inc. (NYSE:SNAP) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co decreased its position in shares of Snap Inc. (NYSE:SNAP) by 1.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 94,219 shares of the company’s stock after selling 1,189 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Snap were worth $1,565,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Snap by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 96,148,590 shares of the company’s stock valued at $1,103,786,000 after purchasing an additional 830,889 shares during the last quarter. SRS Investment Management LLC increased its stake in Snap by 23.6% in the fourth quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock valued at $1,102,392,000 after purchasing an additional 12,452,415 shares during the period. Capital World Investors raised its holdings in shares of Snap by 0.8% in the first quarter. Capital World Investors now owns 46,272,273 shares of the company’s stock valued at $531,206,000 after buying an additional 385,191 shares during the last quarter. Ossiam raised its holdings in shares of Snap by 7.1% in the first quarter. Ossiam now owns 11,334,804 shares of the company’s stock valued at $130,124,000 after buying an additional 751,846 shares during the last quarter. Finally, Carmignac Gestion purchased a new position in shares of Snap during the fourth quarter worth about $110,103,000. 47.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Snap

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $16.56, for a total transaction of $298,080.00. Following the completion of the sale, the general counsel now directly owns 481,908 shares in the company, valued at $7,980,396.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction on Friday, June 28th. The stock was sold at an average price of $16.56, for a total value of $298,080.00. Following the completion of the sale, the general counsel now owns 481,908 shares of the company’s stock, valued at $7,980,396.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Derek Andersen sold 97,608 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $9.29, for a total value of $906,778.32. Following the transaction, the chief financial officer now owns 2,287,970 shares in the company, valued at $21,255,241.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,511,540 shares of company stock worth $13,569,906. Corporate insiders own 22.68% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. The Goldman Sachs Group reduced their price objective on Snap from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Hsbc Global Res lowered shares of Snap from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Susquehanna cut their price objective on shares of Snap from $15.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Bank of America lowered their target price on shares of Snap from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Wolfe Research began coverage on shares of Snap in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. One research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Snap presently has a consensus rating of “Hold” and a consensus price target of $13.76.

Snap Trading Down 0.1 %

Shares of SNAP opened at $10.06 on Friday. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98. Snap Inc. has a 1-year low of $8.28 and a 1-year high of $17.90. The stock has a market cap of $16.69 billion, a price-to-earnings ratio of -12.42 and a beta of 1.00. The firm has a 50 day simple moving average of $10.58 and a 200-day simple moving average of $12.81.

Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. Equities analysts forecast that Snap Inc. will post -0.48 EPS for the current fiscal year.

Snap Company 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.