Livforsakringsbolaget Skandia Omsesidigt Increases Position in Snap Inc. (NYSE:SNAP)

Livforsakringsbolaget Skandia Omsesidigt grew its stake in Snap Inc. (NYSE:SNAP) by 515.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,000 shares of the company’s stock after acquiring an additional 6,700 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Snap were worth $86,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SNAP. Marshall Wace LLP grew its stake in Snap by 587.3% during the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock worth $243,629,000 after buying an additional 12,533,653 shares during the last quarter. Vanguard Group Inc. grew its stake in Snap by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock worth $1,613,729,000 after buying an additional 3,503,230 shares during the last quarter. TB Alternative Assets Ltd. grew its stake in Snap by 144.5% during the 1st quarter. TB Alternative Assets Ltd. now owns 5,094,800 shares of the company’s stock worth $58,488,000 after buying an additional 3,011,400 shares during the last quarter. Discovery Capital Management LLC CT purchased a new position in Snap during the 2nd quarter worth $22,591,000. Finally, Assenagon Asset Management S.A. grew its stake in Snap by 74.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,824,354 shares of the company’s stock worth $46,913,000 after buying an additional 1,201,565 shares during the last quarter. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. HSBC downgraded Snap from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Wolfe Research assumed coverage on Snap in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. JMP Securities reiterated a “market perform” rating on shares of Snap in a research note on Wednesday, September 18th. Piper Sandler reiterated a “neutral” rating and set a $12.00 price target (down previously from $15.00) on shares of Snap in a research note on Friday, August 2nd. Finally, Bank of America decreased their price objective on Snap from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twenty-four have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.77.

Insider Activity

In other news, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total value of $8,690,000.00. Following the completion of the sale, the chief technology officer now directly owns 58,553,813 shares in the company, valued at $508,832,634.97. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Rebecca Morrow sold 8,923 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $9.10, for a total value of $81,199.30. Following the completion of the transaction, the chief accounting officer now directly owns 472,405 shares in the company, valued at approximately $4,298,885.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total value of $8,690,000.00. Following the completion of the transaction, the chief technology officer now owns 58,553,813 shares of the company’s stock, valued at $508,832,634.97. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,510,352 shares of company stock worth $13,446,353 over the last ninety days. Corporate insiders own 22.68% of the company’s stock.

Snap Price Performance

NYSE:SNAP opened at $11.05 on Wednesday. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.90. The stock has a 50 day moving average of $9.68 and a two-hundred day moving average of $12.74. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74. The firm has a market cap of $18.13 billion, a P/E ratio of -13.64 and a beta of 1.01.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.25 billion. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. On average, analysts expect that Snap Inc. will post -0.47 earnings per share for the current fiscal 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.