Snap Inc. $SNAP Shares Sold by Caisse Des Depots ET Consignations

Caisse Des Depots ET Consignations decreased its stake in shares of Snap Inc. (NYSE:SNAP) by 38.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 311,964 shares of the company’s stock after selling 191,268 shares during the quarter. Caisse Des Depots ET Consignations’ holdings in Snap were worth $2,405,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Caprock Group LLC purchased a new stake in shares of Snap during the third quarter worth approximately $784,000. Rhumbline Advisers grew its holdings in Snap by 0.9% during the 3rd quarter. Rhumbline Advisers now owns 210,393 shares of the company’s stock worth $1,622,000 after acquiring an additional 1,789 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in shares of Snap by 75.0% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 63,382 shares of the company’s stock valued at $489,000 after purchasing an additional 27,167 shares during the last quarter. Compagnie Lombard Odier SCmA raised its holdings in shares of Snap by 1.1% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 230,409 shares of the company’s stock valued at $1,776,000 after purchasing an additional 2,499 shares in the last quarter. Finally, Wealthfront Advisers LLC lifted its position in shares of Snap by 13.5% during the 3rd quarter. Wealthfront Advisers LLC now owns 103,704 shares of the company’s stock worth $800,000 after purchasing an additional 12,367 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Snap Price Performance

Shares of NYSE SNAP opened at $5.00 on Thursday. The stock has a market cap of $8.59 billion, a P/E ratio of -18.50 and a beta of 0.83. Snap Inc. has a twelve month low of $4.98 and a twelve month high of $11.26. The stock has a 50 day moving average of $7.43 and a two-hundred day moving average of $7.72. The company has a current ratio of 3.56, a quick ratio of 3.56 and a debt-to-equity ratio of 1.53.

Snap (NYSE:SNAP) last announced its earnings results on Wednesday, February 4th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). Snap had a negative net margin of 7.76% and a negative return on equity of 20.72%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same period in the previous year, the firm earned $0.01 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. On average, research analysts forecast that Snap Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling at Snap

In related news, CAO Rebecca Morrow sold 3,783 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $7.34, for a total value of $27,767.22. Following the transaction, the chief accounting officer owned 483,181 shares in the company, valued at $3,546,548.54. The trade was a 0.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Derek Andersen sold 23,715 shares of the stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $7.83, for a total value of $185,688.45. Following the sale, the chief financial officer directly owned 2,972,051 shares of the company’s stock, valued at $23,271,159.33. The trade was a 0.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 2,393,341 shares of company stock valued at $13,799,210 over the last ninety days. 22.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Wells Fargo & Company dropped their target price on Snap from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Thursday, February 5th. BMO Capital Markets increased their price objective on Snap from $12.00 to $13.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Rosenblatt Securities cut their target price on Snap from $9.50 to $6.40 and set a “neutral” rating on the stock in a research report on Thursday, February 5th. Citigroup upped their price target on Snap from $8.50 to $10.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. Finally, The Goldman Sachs Group cut their price objective on shares of Snap from $9.50 to $8.50 and set a “neutral” rating on the stock in a report on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twenty-two have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Snap has an average rating of “Hold” and a consensus price target of $8.63.

About Snap

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.