Cibc World Market Inc. Sells 7,375 Shares of Snap Inc. (NYSE:SNAP)

Cibc World Market Inc. trimmed its holdings in shares of Snap Inc. (NYSE:SNAPGet Rating) by 30.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,602 shares of the company’s stock after selling 7,375 shares during the period. Cibc World Market Inc.’s holdings in Snap were worth $218,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. HCR Wealth Advisors raised its position in shares of Snap by 2.5% during the 1st quarter. HCR Wealth Advisors now owns 26,700 shares of the company’s stock valued at $961,000 after acquiring an additional 640 shares during the last quarter. Landscape Capital Management L.L.C. lifted its stake in Snap by 8.7% in the first quarter. Landscape Capital Management L.L.C. now owns 8,021 shares of the company’s stock valued at $289,000 after buying an additional 644 shares during the period. Quadrant Capital Group LLC boosted its holdings in Snap by 15.9% during the first quarter. Quadrant Capital Group LLC now owns 4,785 shares of the company’s stock worth $172,000 after buying an additional 657 shares during the last quarter. Meeder Asset Management Inc. grew its position in shares of Snap by 1,189.2% during the 1st quarter. Meeder Asset Management Inc. now owns 838 shares of the company’s stock worth $30,000 after buying an additional 773 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Snap by 1.8% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 45,678 shares of the company’s stock valued at $600,000 after acquiring an additional 792 shares during the last quarter. 51.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Rebecca Morrow sold 7,782 shares of Snap stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $10.77, for a total transaction of $83,812.14. Following the completion of the sale, the chief accounting officer now owns 247,532 shares of the company’s stock, valued at approximately $2,665,919.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Snap news, CFO Derek Andersen sold 5,160 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $11.43, for a total transaction of $58,978.80. Following the transaction, the chief financial officer now owns 1,064,916 shares in the company, valued at approximately $12,171,989.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Rebecca Morrow sold 7,782 shares of Snap stock in a transaction on Monday, October 17th. The stock was sold at an average price of $10.77, for a total value of $83,812.14. Following the sale, the chief accounting officer now directly owns 247,532 shares of the company’s stock, valued at approximately $2,665,919.64. The disclosure for this sale can be found here. Insiders have sold 1,353,030 shares of company stock valued at $10,973,549 over the last ninety days. 22.68% of the stock is currently owned by company insiders.

Snap Price Performance

Shares of NYSE SNAP opened at $10.32 on Friday. The company has a quick ratio of 4.86, a current ratio of 4.86 and a debt-to-equity ratio of 1.29. The business’s 50 day moving average price is $10.33 and its two-hundred day moving average price is $12.58. The company has a market cap of $16.65 billion, a PE ratio of -14.96 and a beta of 0.94. Snap Inc. has a twelve month low of $7.33 and a twelve month high of $54.89.

Snap (NYSE:SNAPGet Rating) last posted its earnings results on Thursday, October 20th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.06. Snap had a negative return on equity of 25.57% and a negative net margin of 24.32%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.15 billion. On average, analysts predict that Snap Inc. will post -0.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SNAP. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Snap from $14.00 to $9.00 and set a “hold” rating for the company in a report on Friday, October 21st. Barclays lowered their price objective on shares of Snap from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Friday, October 21st. Bank Of America (Bofa) lowered Snap from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $22.00 to $11.00 in a report on Friday, October 21st. JMP Securities lowered their price target on Snap from $18.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, October 21st. Finally, Susquehanna cut their price objective on Snap from $11.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, October 21st. Three research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Snap presently has an average rating of “Hold” and a consensus target price of $14.85.

About Snap

(Get Rating)

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.

Further Reading

Institutional Ownership by Quarter for Snap (NYSE:SNAP)

Receive News & Ratings for Snap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap and related companies with MarketBeat.com's FREE daily email newsletter.