Wedmont Private Capital Sells 1,337 Shares of Snap Inc. (NYSE:SNAP)

Wedmont Private Capital reduced its holdings in Snap Inc. (NYSE:SNAP) by 4.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,057 shares of the company’s stock after selling 1,337 shares during the period. Wedmont Private Capital’s holdings in Snap were worth $294,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Marshall Wace LLP increased its stake in Snap by 587.3% during the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock worth $243,629,000 after acquiring an additional 12,533,653 shares during the last quarter. Vanguard Group Inc. raised its holdings in Snap by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock valued at $1,613,729,000 after buying an additional 3,503,230 shares during the period. TB Alternative Assets Ltd. lifted its position in Snap by 144.5% in the first 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 second quarter worth $22,591,000. Finally, Assenagon Asset Management S.A. increased its position in Snap by 74.0% during the second quarter. Assenagon Asset Management S.A. now owns 2,824,354 shares of the company’s stock valued at $46,913,000 after acquiring an additional 1,201,565 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on SNAP shares. Argus raised shares of Snap to a “hold” rating in a research note on Thursday, August 8th. The Goldman Sachs Group cut their target price on Snap from $16.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Barclays decreased their price target on Snap from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Wells Fargo & Company reduced their target price on Snap from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. Finally, Susquehanna lowered their target price on shares of Snap from $15.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Snap has a consensus rating of “Hold” and a consensus target price of $13.85.

Snap Stock Up 4.4 %

NYSE:SNAP opened at $11.13 on Friday. The company’s 50-day simple moving average is $9.63 and its 200-day simple moving average is $12.73. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.90. The stock has a market capitalization of $18.47 billion, a P/E ratio of -15.46 and a beta of 1.01.

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

Insider Buying and Selling

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction dated 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 owns 58,553,813 shares of the company’s stock, valued at approximately $508,832,634.97. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Rebecca Morrow sold 8,923 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.10, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated 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 sale, the chief technology officer now directly owns 58,553,813 shares of the company’s stock, valued at $508,832,634.97. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,510,352 shares of company stock worth $13,446,353 in the last ninety days. 22.68% of the stock is owned by insiders.

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.