Snap Inc. (NYSE:SNAP) Stock Position Lifted by APG Asset Management N.V.

APG Asset Management N.V. lifted its stake in shares of Snap Inc. (NYSE:SNAP) by 3.9% during the second quarter, Holdings Channel.com reports. The firm owned 2,957,491 shares of the company’s stock after acquiring an additional 112,135 shares during the period. APG Asset Management N.V.’s holdings in Snap were worth $45,835,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its position in shares of Snap by 2.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock worth $698,000 after buying an additional 891 shares in the last quarter. GraniteShares Advisors LLC increased its stake in shares of Snap by 2.5% during the second quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock valued at $634,000 after acquiring an additional 941 shares during the period. Charles Schwab Investment Advisory Inc. raised its holdings in Snap by 2.7% during the first quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock worth $411,000 after purchasing an additional 956 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in Snap by 4.0% in the second quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock worth $448,000 after purchasing an additional 1,048 shares during the period. Finally, B. Riley Wealth Advisors Inc. boosted its stake in Snap by 6.7% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 19,640 shares of the company’s stock valued at $333,000 after purchasing an additional 1,232 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Piper Sandler restated a “neutral” rating and issued a $12.00 price objective (down previously from $15.00) on shares of Snap in a report on Friday, August 2nd. HSBC lowered Snap from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Barclays dropped their price target on Snap from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. The Goldman Sachs Group decreased their target price on shares of Snap from $16.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, JMP Securities restated a “market perform” rating on shares of Snap in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, twenty-four have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.00.

Snap Price Performance

Shares of Snap stock opened at $10.88 on Friday. 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 fifty day simple moving average of $10.11 and a 200-day simple moving average of $12.77. The stock has a market capitalization of $18.06 billion, a price-to-earnings ratio of -13.43 and a beta of 1.00. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.90.

Snap (NYSE:SNAP) last released its 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 firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.25 billion. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. On average, sell-side analysts expect that Snap Inc. will post -0.47 earnings per share for the current year.

Insider Activity at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $13.28, for a total value of $239,040.00. Following the transaction, the general counsel now directly owns 463,908 shares of the company’s stock, valued at approximately $6,160,698.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $13.28, for a total value of $239,040.00. Following the sale, the general counsel now directly owns 463,908 shares in the company, valued at approximately $6,160,698.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Rebecca Morrow sold 8,923 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.10, for a total transaction of $81,199.30. Following the transaction, the chief accounting officer now directly owns 472,405 shares of the company’s stock, valued at approximately $4,298,885.50. The disclosure for this sale can be found here. Insiders sold a total of 1,493,540 shares of company stock worth $13,271,826 in the last 90 days. 22.68% of the stock is owned by company insiders.

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.