Snap Inc. (NYSE:SNAP) Holdings Decreased by Mackenzie Financial Corp

Mackenzie Financial Corp reduced its stake in shares of Snap Inc. (NYSE:SNAP) by 35.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,399 shares of the company’s stock after selling 64,319 shares during the quarter. Mackenzie Financial Corp’s holdings in Snap were worth $1,971,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SNAP. Vanguard Group Inc. raised its stake in shares of Snap by 1.5% during the third quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company’s stock valued at $818,067,000 after purchasing an additional 1,352,655 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Snap by 60.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,381,578 shares of the company’s stock worth $21,220,000 after acquiring an additional 892,996 shares in the last quarter. Bellwether Advisors LLC bought a new stake in Snap in the third quarter worth about $5,362,000. Mirae Asset Global Investments Co. Ltd. raised its position in Snap by 50.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,382,917 shares of the company’s stock worth $23,413,000 after acquiring an additional 462,977 shares in the last quarter. Finally, Twenty Acre Capital LP bought a new stake in Snap in the third quarter worth about $3,328,000. 47.52% of the stock is currently owned by institutional investors.

Insider Activity at Snap

In related news, CFO Derek Andersen sold 96,953 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $10.99, for a total value of $1,065,513.47. Following the completion of the sale, the chief financial officer now owns 2,534,689 shares of the company’s stock, valued at approximately $27,856,232.11. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Derek Andersen sold 96,953 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $10.99, for a total value of $1,065,513.47. Following the completion of the sale, the chief financial officer now owns 2,534,689 shares of the company’s stock, valued at approximately $27,856,232.11. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total value of $210,080.00. Following the completion of the sale, the general counsel now directly owns 461,005 shares of the company’s stock, valued at approximately $7,449,840.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 470,482 shares of company stock valued at $5,284,091.

Snap Stock Performance

NYSE:SNAP opened at $11.40 on Wednesday. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55. Snap Inc. has a fifty-two week low of $7.86 and a fifty-two week high of $17.90. The stock’s 50-day moving average is $11.20 and its two-hundred day moving average is $12.80.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, February 6th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.04. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Sell-side analysts anticipate that Snap Inc. will post -0.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Rosenblatt Securities boosted their price target on shares of Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. BMO Capital Markets dropped their price target on shares of Snap from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. The Goldman Sachs Group dropped their price target on Snap from $15.00 to $13.50 and set a “neutral” rating on the stock in a research note on Thursday, February 8th. Susquehanna lifted their price target on Snap from $9.50 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. Finally, Piper Sandler lifted their price target on Snap from $12.00 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $13.86.

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.