Mitsubishi UFJ Trust & Banking Corp Decreases Stake in Snap Inc. (NYSE:SNAP)

Mitsubishi UFJ Trust & Banking Corp lessened its position in shares of Snap Inc. (NYSE:SNAP) by 4.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 460,676 shares of the company’s stock after selling 20,477 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Snap were worth $4,961,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SNAP. Invenomic Capital Management LP bought a new position in shares of Snap during the 3rd quarter valued at approximately $2,349,000. Charles Schwab Investment Management Inc. raised its stake in Snap by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company’s stock valued at $71,095,000 after purchasing an additional 389,812 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Snap by 49.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,639,681 shares of the company’s stock valued at $28,245,000 after purchasing an additional 879,212 shares during the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Snap in the 4th quarter worth $289,000. Finally, Holocene Advisors LP bought a new stake in shares of Snap in the 3rd quarter worth about $3,436,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SNAP. Barclays reaffirmed an “overweight” rating on shares of Snap in a report on Wednesday, February 5th. Susquehanna lifted their target price on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. JMP Securities restated a “market outperform” rating and set a $16.00 price target on shares of Snap in a report on Monday, January 27th. Wells Fargo & Company lowered shares of Snap from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $15.00 to $11.00 in a research note on Wednesday, February 5th. Finally, Guggenheim downgraded shares of Snap from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Snap has a consensus rating of “Hold” and a consensus target price of $36.87.

Snap Price Performance

SNAP opened at $8.88 on Monday. The firm has a market capitalization of $15.06 billion, a PE ratio of -21.13 and a beta of 0.92. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. The business’s 50-day moving average is $10.16 and its two-hundred day moving average is $10.81. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.33.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. Research analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Transactions at Snap

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the transaction, the chief technology officer now owns 55,818,548 shares in the company, valued at approximately $504,599,673.92. This represents a 1.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $10.84, for a total transaction of $195,120.00. Following the sale, the general counsel now owns 498,498 shares of the company’s stock, valued at $5,403,718.32. The trade was a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,350,523 shares of company stock valued at $12,698,797. Corporate insiders own 22.68% of the company’s stock.

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.