National Bank of Canada FI Reduces Stock Position in Snap Inc. (NYSE:SNAP)

National Bank of Canada FI lessened its holdings in shares of Snap Inc. (NYSE:SNAP) by 10.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,358 shares of the company’s stock after selling 1,732 shares during the period. National Bank of Canada FI’s holdings in Snap were worth $164,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Marshall Wace LLP boosted its stake in shares of Snap by 587.3% during the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock valued at $243,629,000 after purchasing an additional 12,533,653 shares in the last quarter. TB Alternative Assets Ltd. lifted its holdings in Snap by 105.6% in the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after buying an additional 4,098,847 shares during the period. Charles Schwab Investment Management Inc. boosted its position in 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 acquiring an additional 2,386,519 shares in the last quarter. Discovery Capital Management LLC CT purchased a new position in shares of Snap during the 2nd quarter worth approximately $22,591,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Snap by 49.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock worth $41,842,000 after acquiring an additional 1,297,348 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

Snap Stock Performance

SNAP opened at $11.34 on Tuesday. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.90. The company has a market cap of $19.02 billion, a price-to-earnings ratio of -19.55 and a beta of 0.97. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The company’s 50 day moving average is $11.37 and its 200 day moving average is $12.02.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the firm posted ($0.21) EPS. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, equities research analysts predict that Snap Inc. will post -0.4 EPS for the current year.

Insider Transactions at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $10.81, for a total value of $194,580.00. Following the completion of the sale, the general counsel now owns 489,058 shares in the company, valued at approximately $5,286,716.98. This represents a 3.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Eric Young sold 112,020 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.55, for a total value of $1,181,811.00. Following the completion of the transaction, the senior vice president now owns 2,791,048 shares in the company, valued at $29,445,556.40. The trade was a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,279,892 shares of company stock valued at $15,585,110 over the last quarter. 22.68% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SNAP has been the topic of several research reports. The Goldman Sachs Group lifted their price target on Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. B. Riley boosted their target price on shares of Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. JMP Securities decreased their price target on shares of Snap from $17.00 to $16.00 and set a “market outperform” rating for the company in a research note on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and set a $640.00 price target on shares of Snap in a research report on Thursday, December 5th. Finally, Wells Fargo & Company cut their price objective on shares of Snap from $15.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Snap presently has a consensus rating of “Hold” and a consensus target price of $37.10.

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.