Snap Inc. (NYSE:SNAP) Stock Position Lifted by Vontobel Holding Ltd.

Vontobel Holding Ltd. boosted its stake in Snap Inc. (NYSE:SNAP) by 17.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 327,705 shares of the company’s stock after buying an additional 47,717 shares during the quarter. Vontobel Holding Ltd.’s holdings in Snap were worth $3,506,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Marshall Wace LLP increased its stake in shares of Snap by 587.3% in 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. TB Alternative Assets Ltd. raised its stake in shares of Snap by 144.5% during the 1st quarter. TB Alternative Assets Ltd. now owns 5,094,800 shares of the company’s stock worth $58,488,000 after purchasing an additional 3,011,400 shares in the last quarter. Discovery Capital Management LLC CT acquired a new stake in shares of Snap during the 2nd quarter valued at about $22,591,000. Assenagon Asset Management S.A. grew its stake in shares of Snap by 74.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,824,354 shares of the company’s stock valued at $46,913,000 after buying an additional 1,201,565 shares in the last quarter. Finally, Curated Wealth Partners LLC increased its holdings in Snap by 200.0% in the second quarter. Curated Wealth Partners LLC now owns 536,541 shares of the company’s stock worth $8,912,000 after buying an additional 1,073,082 shares during the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

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 on 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 in the company, valued at $508,832,634.97. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total value of $8,690,000.00. Following the transaction, the chief technology officer now directly owns 58,553,813 shares in the company, valued at $508,832,634.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Rebecca Morrow sold 8,923 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $9.10, for a total transaction of $81,199.30. Following the sale, the chief accounting officer now directly owns 472,405 shares of the company’s stock, valued at approximately $4,298,885.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,510,352 shares of company stock valued at $13,446,353. Corporate insiders own 22.68% of the company’s stock.

Analyst Upgrades and Downgrades

SNAP has been the subject of a number of analyst reports. Argus upgraded shares of Snap to a “hold” rating in a research note on Thursday, August 8th. Bank of America decreased their price objective on shares of Snap from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Morgan Stanley upgraded Snap from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $12.00 to $16.00 in a report on Tuesday, July 23rd. Hsbc Global Res downgraded Snap from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut their price objective on Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $13.77.

Snap Trading Up 0.4 %

Shares of Snap stock opened at $10.50 on Friday. The company’s fifty day moving average price is $9.83 and its two-hundred day moving average price is $12.70. The firm has a market capitalization of $17.23 billion, a PE ratio of -12.96 and a beta of 1.01. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.90. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate 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, analysts expect that Snap Inc. will post -0.47 EPS for the current year.

Snap Company 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.