Allianz Asset Management GmbH Sells 28,735 Shares of Snap Inc. (NYSE:SNAP)

Allianz Asset Management GmbH decreased its position in shares of Snap Inc. (NYSE:SNAPFree Report) by 25.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 84,417 shares of the company’s stock after selling 28,735 shares during the period. Allianz Asset Management GmbH’s holdings in Snap were worth $1,429,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of SNAP. NBC Securities Inc. raised its position in shares of Snap by 2,580.4% during the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after acquiring an additional 1,445 shares during the last quarter. Allworth Financial LP lifted its stake in Snap by 161.6% in the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after buying an additional 1,708 shares during the period. Rakuten Securities Inc. bought a new position in Snap during the fourth quarter worth about $73,000. Westpac Banking Corp increased its stake in shares of Snap by 108.7% in the 4th quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock valued at $81,000 after acquiring an additional 2,506 shares during the last quarter. Finally, Avantax Advisory Services Inc. acquired a new stake in shares of Snap in the 3rd quarter valued at approximately $91,000. 47.52% of the stock is owned by institutional investors and hedge funds.

Snap Stock Performance

NYSE SNAP opened at $15.59 on Monday. The company has a market capitalization of $25.58 billion, a P/E ratio of -19.25 and a beta of 1.07. The company has a debt-to-equity ratio of 1.55, a quick ratio of 3.76 and a current ratio of 3.76. Snap Inc. has a 52-week low of $8.28 and a 52-week high of $17.90. The company has a fifty day moving average of $13.93 and a 200-day moving average of $13.99.

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

Analyst Ratings Changes

Several analysts recently commented on SNAP shares. Canaccord Genuity Group raised their price objective on Snap from $14.00 to $15.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. HSBC upgraded Snap from a “reduce” rating to a “buy” rating in a research report on Friday, April 26th. Royal Bank of Canada increased their price objective on shares of Snap from $13.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Friday, April 26th. TD Cowen upped their target price on shares of Snap from $11.00 to $14.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Finally, Raymond James restated an “outperform” rating and issued a $16.00 price target (up from $15.00) on shares of Snap in a report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Snap currently has an average rating of “Hold” and an average target price of $14.82.

Read Our Latest Stock Analysis on SNAP

Insider Transactions at Snap

In other news, CFO Derek Andersen sold 96,953 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $10.99, for a total transaction of $1,065,513.47. Following the completion of the transaction, the chief financial officer now directly owns 2,534,689 shares of the company’s stock, valued at $27,856,232.11. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Snap news, CFO Derek Andersen sold 96,953 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $10.99, for a total transaction of $1,065,513.47. Following the transaction, the chief financial officer now directly owns 2,534,689 shares of the company’s stock, valued at approximately $27,856,232.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Eric Young sold 115,915 shares of the firm’s stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 3,292,657 shares of the company’s stock, valued at $52,386,172.87. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,527,669 shares of company stock worth $21,532,240. Insiders own 22.68% of the company’s stock.

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.

See Also

Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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