Bank of New York Mellon Corp Raises Stock Holdings in Snap Inc. $SNAP

Bank of New York Mellon Corp increased its stake in Snap Inc. (NYSE:SNAP) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,528,236 shares of the company’s stock after purchasing an additional 15,192 shares during the period. Bank of New York Mellon Corp owned approximately 0.09% of Snap worth $13,280,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Signaturefd LLC grew its position in Snap by 169.9% in the second quarter. Signaturefd LLC now owns 2,942 shares of the company’s stock worth $26,000 after acquiring an additional 1,852 shares in the last quarter. Quarry LP bought a new stake in Snap during the first quarter worth about $34,000. Itau Unibanco Holding S.A. purchased a new position in shares of Snap in the 1st quarter worth about $35,000. Wealth Preservation Advisors LLC bought a new position in shares of Snap during the 1st quarter valued at about $44,000. Finally, S Bank Fund Management Ltd bought a new position in shares of Snap during the 1st quarter valued at about $53,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Truist Financial upped their target price on Snap from $10.00 to $11.00 and gave the stock a “hold” rating in a research note on Friday, November 7th. Citizens Jmp restated a “market perform” rating on shares of Snap in a report on Wednesday, August 6th. Evercore ISI upped their price objective on shares of Snap from $11.00 to $12.00 and gave the company an “in-line” rating in a research note on Wednesday, August 6th. Piper Sandler lifted their target price on shares of Snap from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Finally, Sanford C. Bernstein boosted their price target on shares of Snap from $9.00 to $10.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $35.06.

Insider Buying and Selling at Snap

In other news, CFO Derek Andersen sold 62,868 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $8.34, for a total value of $524,319.12. Following the sale, the chief financial officer directly owned 3,030,301 shares of the company’s stock, valued at approximately $25,272,710.34. This represents a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Michael J. O’sullivan sold 24,000 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $7.16, for a total transaction of $171,840.00. Following the sale, the general counsel directly owned 525,254 shares in the company, valued at $3,760,818.64. This trade represents a 4.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,265,675 shares of company stock valued at $10,077,045 in the last quarter.

Snap Price Performance

Shares of Snap stock opened at $8.26 on Wednesday. The business has a 50 day moving average of $8.02 and a 200 day moving average of $8.26. The company has a market cap of $14.19 billion, a PE ratio of -28.46 and a beta of 0.89. The company has a quick ratio of 3.67, a current ratio of 3.67 and a debt-to-equity ratio of 1.57. Snap Inc. has a 52 week low of $6.90 and a 52 week high of $13.28.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.12). Snap had a negative net margin of 8.60% and a negative return on equity of 21.61%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the firm earned ($0.09) EPS. Snap’s quarterly revenue was up 9.8% compared to the same quarter last year. Snap has set its Q4 2025 guidance at EPS. As a group, equities research analysts forecast that Snap Inc. will post -0.3 earnings per share for the current year.

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.