Snap Inc. (NYSE:SNAP) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. lowered its position in shares of Snap Inc. (NYSE:SNAP) by 0.6% during the third quarter, Holdings Channel reports. The fund owned 381,225 shares of the company’s stock after selling 2,300 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Snap were worth $4,079,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. TB Alternative Assets Ltd. boosted its holdings in shares of Snap by 105.6% in the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after purchasing an additional 4,098,847 shares during the last quarter. Dynamic Advisor Solutions LLC acquired a new position in shares of Snap in the 3rd quarter valued at $832,000. Exchange Traded Concepts LLC boosted its holdings in shares of Snap by 38.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 784,982 shares of the company’s stock valued at $8,399,000 after purchasing an additional 219,111 shares during the last quarter. APG Asset Management N.V. boosted its holdings in shares of Snap by 3.9% in 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. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Snap by 17.0% in the 3rd quarter. Vontobel Holding Ltd. now owns 327,705 shares of the company’s stock valued at $3,506,000 after purchasing an additional 47,717 shares during the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Trading Down 3.8 %

NYSE SNAP opened at $12.01 on Friday. Snap Inc. has a one year low of $8.29 and a one year high of $17.90. The company has a 50-day simple moving average of $10.46 and a 200-day simple moving average of $12.75. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. The firm has a market capitalization of $20.14 billion, a PE ratio of -20.71 and a beta of 0.99.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on SNAP shares. HSBC downgraded shares of Snap from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Stifel Nicolaus cut their target price on shares of Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, October 14th. Wolfe Research started coverage on shares of Snap in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Hsbc Global Res downgraded shares of Snap from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut their target price on shares of Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Snap presently has an average rating of “Hold” and a consensus price target of $14.31.

Insider Activity

In other news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $12.50, for a total value of $12,500,000.00. Following the completion of 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 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $12.50, for a total value of $12,500,000.00. Following the completion of 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 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Eric Young sold 114,097 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.11, for a total transaction of $1,039,423.67. Following the transaction, the senior vice president now directly owns 3,041,723 shares of the company’s stock, valued at $27,710,096.53. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,365,051 shares of company stock valued at $15,965,178. Company insiders own 22.68% of the company’s stock.

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.