Capital Group International Inc. CA Purchases 231,196 Shares of Snap Inc. (NYSE:SNAP)

Capital Group International Inc. CA lifted its position in Snap Inc. (NYSE:SNAPGet Rating) by 42.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 778,686 shares of the company’s stock after acquiring an additional 231,196 shares during the quarter. Capital Group International Inc. CA’s holdings in Snap were worth $28,025,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cornerstone Advisory LLC bought a new stake in shares of Snap in the 4th quarter worth about $33,000. AdvisorNet Financial Inc lifted its holdings in Snap by 198.7% during the 1st quarter. AdvisorNet Financial Inc now owns 708 shares of the company’s stock valued at $25,000 after buying an additional 471 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in Snap during the 1st quarter valued at about $27,000. GHP Investment Advisors Inc. bought a new stake in Snap during the 1st quarter valued at about $28,000. Finally, Meeder Asset Management Inc. lifted its holdings in Snap by 1,189.2% during the 1st quarter. Meeder Asset Management Inc. now owns 838 shares of the company’s stock valued at $30,000 after buying an additional 773 shares in the last quarter. Institutional investors own 51.41% of the company’s stock.

Snap Stock Performance

Shares of NYSE SNAP opened at $11.52 on Thursday. The company has a current ratio of 5.65, a quick ratio of 5.65 and a debt-to-equity ratio of 1.09. Snap Inc. has a 12 month low of $9.34 and a 12 month high of $83.34. The company has a 50 day simple moving average of $11.71 and a two-hundred day simple moving average of $20.69. The stock has a market cap of $19.00 billion, a price-to-earnings ratio of -22.15 and a beta of 0.97.

Snap (NYSE:SNAPGet Rating) last announced its quarterly earnings data on Thursday, July 21st. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.04). Snap had a negative net margin of 18.31% and a negative return on equity of 21.55%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.14 billion. As a group, analysts predict that Snap Inc. will post -0.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. MKM Partners decreased their price objective on shares of Snap from $41.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, May 24th. KeyCorp lowered shares of Snap from an “overweight” rating to a “sector weight” rating in a report on Friday, July 22nd. TheStreet downgraded shares of Snap from a “c-” rating to a “d+” rating in a research report on Friday, May 27th. Royal Bank of Canada raised their target price on shares of Snap from $10.00 to $11.00 and gave the company a “sector perform” rating in a research report on Thursday, September 1st. Finally, JPMorgan Chase & Co. downgraded shares of Snap from an “overweight” rating to an “underweight” rating and cut their target price for the company from $24.00 to $9.00 in a research report on Friday, July 22nd. Three investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Snap presently has a consensus rating of “Hold” and a consensus price target of $20.86.

Insider Activity at Snap

In related news, insider Jeremi Gorman sold 34,032 shares of the business’s stock in a transaction on Monday, July 18th. The shares were sold at an average price of $14.08, for a total value of $479,170.56. Following the completion of the transaction, the insider now directly owns 1,415,146 shares in the company, valued at approximately $19,925,255.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Derek Andersen sold 8,316 shares of the business’s stock in a transaction on Monday, July 18th. The shares were sold at an average price of $14.02, for a total value of $116,590.32. Following the completion of the transaction, the chief financial officer now directly owns 1,090,558 shares in the company, valued at approximately $15,289,623.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jeremi Gorman sold 34,032 shares of the business’s stock in a transaction on Monday, July 18th. The shares were sold at an average price of $14.08, for a total transaction of $479,170.56. Following the completion of the transaction, the insider now owns 1,415,146 shares of the company’s stock, valued at $19,925,255.68. The disclosure for this sale can be found here. Insiders sold a total of 1,155,438 shares of company stock worth $11,957,990 in the last three months.

Snap Company Profile

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Snap Inc operates as a camera company in North America, Europe, and internationally. The company offers Snapchat, a camera application with various functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate visually through short videos and images.

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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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