Snap Inc. (NYSE:SNAP) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its stake in Snap Inc. (NYSE:SNAP) by 53.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,335 shares of the company’s stock after selling 72,445 shares during the quarter. State of Alaska Department of Revenue’s holdings in Snap were worth $677,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SNAP. GraniteShares Advisors LLC grew its stake in Snap by 2.5% during the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock worth $634,000 after buying an additional 941 shares during the last quarter. Charles Schwab Investment Advisory Inc. grew its position in Snap by 2.7% during the first quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock valued at $411,000 after acquiring an additional 956 shares during the period. Concurrent Investment Advisors LLC lifted its stake in shares of Snap by 4.0% during 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 in the last quarter. DMC Group LLC lifted its stake in shares of Snap by 10.5% in the second quarter. DMC Group LLC now owns 15,583 shares of the company’s stock worth $259,000 after acquiring an additional 1,477 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Snap by 354.1% during the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after buying an additional 1,682 shares in the last quarter. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Snap

In other news, CAO Rebecca Morrow sold 8,923 shares of the firm’s stock in a transaction that occurred on 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. This trade 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 can be accessed through this hyperlink. In related news, CAO Rebecca Morrow sold 8,923 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.10, for a total transaction of $81,199.30. Following the sale, the chief accounting officer now owns 472,405 shares in the company, valued at approximately $4,298,885.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Eric Young sold 114,097 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $9.11, for a total transaction of $1,039,423.67. Following the sale, the senior vice president now owns 3,041,723 shares in the company, valued at $27,710,096.53. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,365,051 shares of company stock valued at $15,965,178.

Snap Stock Down 3.1 %

Shares of SNAP stock opened at $11.81 on Thursday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. The firm’s 50-day moving average is $10.34 and its 200-day moving average is $12.73. The stock has a market cap of $19.60 billion, a price-to-earnings ratio of -20.36 and a beta of 0.99. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.90.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The business’s revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.21) EPS. Sell-side analysts predict that Snap Inc. will post -0.41 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. HSBC lowered Snap from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Loop Capital increased their price objective on Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday. Wolfe Research initiated coverage on Snap in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Bank of America increased their price objective on Snap from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Susquehanna cut their price objective on Snap from $15.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $14.31.

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.