BlackRock Inc. raised its position in Snap Inc (NYSE:SNAP) by 17.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,648,770 shares of the company’s stock after buying an additional 1,762,106 shares during the period. BlackRock Inc. owned approximately 0.97% of Snap worth $170,188,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in Snap by 11.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,650,826 shares of the company’s stock valued at $110,556,000 after buying an additional 797,290 shares during the last quarter. First Trust Advisors LP boosted its position in Snap by 11.3% in the 4th quarter. First Trust Advisors LP now owns 6,546,551 shares of the company’s stock valued at $95,645,000 after buying an additional 662,450 shares during the last quarter. Allianz Asset Management GmbH boosted its position in Snap by 73.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 4,529,005 shares of the company’s stock valued at $65,852,000 after buying an additional 1,916,830 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its position in Snap by 16.0% in the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 4,054,925 shares of the company’s stock valued at $59,242,000 after buying an additional 559,590 shares during the last quarter. Finally, Valiant Capital Management L.P. boosted its position in Snap by 379.1% in the 3rd quarter. Valiant Capital Management L.P. now owns 3,215,300 shares of the company’s stock valued at $46,750,000 after buying an additional 2,544,200 shares during the last quarter. 18.55% of the stock is owned by institutional investors.
In other Snap news, Director Mitchell Lasky sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $14.96, for a total value of $374,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andrew Vollero sold 22,881 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $13.52, for a total transaction of $309,351.12. The disclosure for this sale can be found here. Insiders sold 5,608,004 shares of company stock worth $102,534,020 in the last 90 days.
Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, February 6th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.06. Snap had a negative net margin of 417.61% and a negative return on equity of 100.64%. The company had revenue of $285.69 million for the quarter, compared to analyst estimates of $251.74 million. research analysts forecast that Snap Inc will post -1.17 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on SNAP shares. JMP Securities cut shares of Snap from an “outperform” rating to a “market perform” rating in a research report on Sunday, November 26th. Wells Fargo reissued a “hold” rating on shares of Snap in a research report on Wednesday, November 29th. Deutsche Bank reaffirmed a “hold” rating and set a $11.00 price target on shares of Snap in a research report on Thursday, November 30th. Barclays raised shares of Snap from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $11.00 to $18.00 in a research report on Tuesday, December 5th. Finally, Evercore ISI initiated coverage on shares of Snap in a research report on Tuesday, December 5th. They set an “underperform” rating and a $7.00 price target on the stock. Fifteen analysts have rated the stock with a sell rating, seventeen have given a hold rating and fifteen have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $18.01.
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Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.
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