Citizens Financial Group Inc. RI Buys New Shares in Snap Inc. (NYSE:SNAP)

Citizens Financial Group Inc. RI bought a new stake in shares of Snap Inc. (NYSE:SNAP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,833 shares of the company’s stock, valued at approximately $180,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Snap by 12.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 40,341 shares of the company’s stock valued at $683,000 after purchasing an additional 4,307 shares during the last quarter. Carmignac Gestion bought a new position in shares of Snap during the 4th quarter valued at $110,103,000. TCW Group Inc. bought a new position in shares of Snap during the 4th quarter valued at $275,000. V Square Quantitative Management LLC grew its holdings in shares of Snap by 72.7% during the 4th quarter. V Square Quantitative Management LLC now owns 11,119 shares of the company’s stock valued at $188,000 after purchasing an additional 4,679 shares during the last quarter. Finally, Alta Park Capital LP bought a new position in shares of Snap during the 4th quarter valued at $13,845,000. Institutional investors own 47.52% of the company’s stock.

Insiders Place Their Bets

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total value of $8,690,000.00. Following the completion of the transaction, the chief technology officer now directly owns 58,553,813 shares of the company’s stock, valued at $508,832,634.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total value of $8,690,000.00. Following the completion of the transaction, the chief technology officer now directly owns 58,553,813 shares of the company’s stock, valued at $508,832,634.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $16.56, for a total transaction of $298,080.00. Following the completion of the transaction, the general counsel now directly owns 481,908 shares of the company’s stock, valued at $7,980,396.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,511,540 shares of company stock valued at $13,569,906. Insiders own 22.68% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on SNAP shares. HSBC lowered shares of Snap from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $14.00 price target on shares of Snap in a report on Wednesday. Hsbc Global Res lowered shares of Snap from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Piper Sandler reissued a “neutral” rating and issued a $12.00 price target (down previously from $15.00) on shares of Snap in a report on Friday, August 2nd. Finally, Bank of America cut their price target on shares of Snap from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twenty-three have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Snap presently has an average rating of “Hold” and a consensus price target of $13.87.

Snap Trading Up 4.2 %

Shares of NYSE SNAP opened at $10.08 on Friday. Snap Inc. has a 1 year low of $8.28 and a 1 year high of $17.90. The stock has a market cap of $16.73 billion, a P/E ratio of -12.44 and a beta of 1.00. The firm has a 50-day moving average of $10.70 and a 200 day moving average of $12.81. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98.

Snap (NYSE:SNAP) last issued its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.02. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. As a group, sell-side analysts expect that Snap Inc. will post -0.48 EPS for the current fiscal 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.