Snap Inc. (NYSE:SNAP) Shares Sold by US Bancorp DE

US Bancorp DE cut its stake in shares of Snap Inc. (NYSE:SNAP) by 20.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,322 shares of the company’s stock after selling 1,873 shares during the period. US Bancorp DE’s holdings in Snap were worth $82,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SNAP. Acadian Asset Management LLC lifted its holdings in shares of Snap by 72.6% in the 1st quarter. Acadian Asset Management LLC now owns 8,456 shares of the company’s stock worth $304,000 after acquiring an additional 3,556 shares during the last quarter. Raymond James Trust N.A. lifted its holdings in shares of Snap by 28.6% in the 1st quarter. Raymond James Trust N.A. now owns 8,708 shares of the company’s stock worth $313,000 after acquiring an additional 1,936 shares during the last quarter. Cibc World Market Inc. lifted its holdings in shares of Snap by 9.4% in the 1st quarter. Cibc World Market Inc. now owns 23,977 shares of the company’s stock worth $863,000 after acquiring an additional 2,061 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Snap by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 786,417 shares of the company’s stock worth $28,305,000 after acquiring an additional 5,182 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Snap in the 1st quarter worth approximately $3,216,000. 44.37% of the stock is owned by hedge funds and other institutional investors.

Snap Trading Up 1.0 %

Shares of Snap stock opened at $10.45 on Friday. Snap Inc. has a 1 year low of $7.33 and a 1 year high of $13.89. The company has a debt-to-equity ratio of 1.50, a quick ratio of 5.16 and a current ratio of 5.16. The company has a market capitalization of $16.96 billion, a P/E ratio of -12.29 and a beta of 1.23. The company’s fifty day moving average is $11.10 and its two-hundred day moving average is $10.53.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, July 25th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.01. Snap had a negative net margin of 30.19% and a negative return on equity of 36.83%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Analysts forecast that Snap Inc. will post -0.82 earnings per share for the current year.

Insider Transactions at Snap

In other news, General Counsel Michael J. O’sullivan sold 13,000 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $10.33, for a total value of $134,290.00. Following the completion of the sale, the general counsel now owns 495,584 shares in the company, valued at approximately $5,119,382.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, General Counsel Michael J. O’sullivan sold 13,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $10.33, for a total value of $134,290.00. Following the completion of the sale, the general counsel now owns 495,584 shares in the company, valued at $5,119,382.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $10.08, for a total transaction of $10,080,000.00. Following the completion of the sale, the chief technology officer now owns 70,213,355 shares of the company’s stock, valued at approximately $707,750,618.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,463,627 shares of company stock worth $25,273,101.

Analyst Ratings Changes

Several brokerages have recently commented on SNAP. Credit Suisse Group upped their price objective on shares of Snap from $11.00 to $16.00 and gave the stock an “outperform” rating in a report on Monday, July 17th. Rosenblatt Securities reiterated a “neutral” rating and set a $9.00 target price on shares of Snap in a report on Wednesday, July 26th. Stifel Nicolaus increased their target price on shares of Snap from $8.00 to $13.00 in a report on Friday, July 21st. UBS Group reduced their target price on shares of Snap from $14.00 to $12.00 in a report on Wednesday, July 26th. Finally, Jefferies Financial Group increased their target price on shares of Snap from $9.00 to $13.00 and gave the stock a “hold” rating in a report on Thursday, July 13th. Three investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Snap has a consensus rating of “Hold” and an average price target of $10.41.

Snap 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.