TD Asset Management Inc Sells 44,127 Shares of Snap Inc. (NYSE:SNAP)

TD Asset Management Inc reduced its stake in Snap Inc. (NYSE:SNAPFree Report) by 21.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,570 shares of the company’s stock after selling 44,127 shares during the quarter. TD Asset Management Inc’s holdings in Snap were worth $2,786,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNAP. Vanguard Group Inc. lifted its position in shares of Snap by 1.5% in the third quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company’s stock worth $818,067,000 after purchasing an additional 1,352,655 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Snap by 4.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 8,267,765 shares of the company’s stock worth $73,666,000 after buying an additional 327,038 shares during the last quarter. Contrarius Investment Management Ltd bought a new position in shares of Snap in the 4th quarter valued at about $80,644,000. Northern Trust Corp raised its holdings in Snap by 0.3% during the third quarter. Northern Trust Corp now owns 4,091,981 shares of the company’s stock worth $36,460,000 after acquiring an additional 10,583 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Snap by 7.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,444,341 shares of the company’s stock valued at $58,313,000 after purchasing an additional 230,815 shares during the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Rosenblatt Securities upped their price objective on Snap from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Wells Fargo & Company increased their price target on shares of Snap from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Morgan Stanley boosted their price objective on shares of Snap from $11.00 to $12.00 and gave the stock an “underweight” rating in a research note on Friday, April 26th. Raymond James reiterated an “outperform” rating and issued a $16.00 target price (up from $15.00) on shares of Snap in a research note on Friday, April 26th. Finally, HSBC raised Snap from a “reduce” rating to a “buy” rating in a research report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Snap has an average rating of “Hold” and an average price target of $14.82.

View Our Latest Report on Snap

Insider Buying and Selling

In other Snap news, SVP Eric Young sold 115,915 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $15.91, for a total transaction of $1,844,207.65. Following the sale, the senior vice president now owns 3,292,657 shares of the company’s stock, valued at $52,386,172.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $15.01, for a total value of $270,180.00. Following the completion of the transaction, the general counsel now owns 449,383 shares in the company, valued at approximately $6,745,238.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Eric Young sold 115,915 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $15.91, for a total transaction of $1,844,207.65. Following the sale, the senior vice president now directly owns 3,292,657 shares in the company, valued at $52,386,172.87. The disclosure for this sale can be found here. Insiders sold a total of 1,527,669 shares of company stock worth $21,532,240 in the last three months. 22.68% of the stock is owned by corporate insiders.

Snap Trading Up 2.5 %

SNAP opened at $15.59 on Friday. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 1.55. Snap Inc. has a twelve month low of $8.28 and a twelve month high of $17.90. The stock has a market capitalization of $25.58 billion, a price-to-earnings ratio of -19.24 and a beta of 1.07. The company has a 50-day simple moving average of $13.93 and a 200 day simple moving average of $13.96.

Snap (NYSE:SNAPGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.10. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.12 billion. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. Analysts predict that Snap Inc. will post -0.44 EPS for the current fiscal year.

About Snap

(Free Report)

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.

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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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