Tredje AP fonden Sells 2,564 Shares of Snap Inc. (NYSE:SNAP)

Tredje AP fonden lowered its stake in shares of Snap Inc. (NYSE:SNAP) by 1.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 159,954 shares of the company’s stock after selling 2,564 shares during the period. Tredje AP fonden’s holdings in Snap were worth $2,657,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in SNAP. Steward Partners Investment Advisory LLC raised its stake in Snap by 2.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock worth $698,000 after buying an additional 891 shares during the period. GraniteShares Advisors LLC grew its position in Snap by 2.5% in the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock valued at $634,000 after purchasing an additional 941 shares during the period. Charles Schwab Investment Advisory Inc. grew its position in Snap by 2.7% in the 1st quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock valued at $411,000 after purchasing an additional 956 shares during the period. Concurrent Investment Advisors LLC increased its stake in Snap by 4.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock valued at $448,000 after purchasing an additional 1,048 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its holdings in Snap by 6.7% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 19,640 shares of the company’s stock worth $333,000 after buying an additional 1,232 shares during the last quarter. Institutional investors own 47.52% of the company’s stock.

Snap Price Performance

Shares of Snap stock opened at $10.08 on Friday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. Snap Inc. has a 52-week low of $8.28 and a 52-week high of $17.90. The company has a fifty day moving average of $10.70 and a 200-day moving average of $12.81. The stock has a market capitalization of $16.73 billion, a price-to-earnings ratio of -12.44 and a beta of 1.00.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.02. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.25 billion. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. Equities research analysts expect that Snap Inc. will post -0.48 EPS for the current year.

Wall Street Analysts Forecast Growth

SNAP has been the topic of a number of recent research reports. Susquehanna dropped their target price on Snap from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Benchmark reaffirmed a “hold” rating on shares of Snap in a report on Tuesday, August 6th. Argus raised Snap to a “hold” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $14.00 price target on shares of Snap in a research note on Wednesday. Finally, Roth Mkm reiterated a “neutral” rating and issued a $14.00 price target on shares of Snap in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.87.

Insider Buying and Selling

In other news, CFO Derek Andersen sold 97,608 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $9.29, for a total transaction of $906,778.32. Following the completion of the sale, the chief financial officer now owns 2,287,970 shares of the company’s stock, valued at $21,255,241.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Derek Andersen sold 97,608 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $9.29, for a total transaction of $906,778.32. Following the completion of the transaction, the chief financial officer now directly owns 2,287,970 shares of the company’s stock, valued at $21,255,241.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $16.56, for a total value of $298,080.00. Following the completion of the sale, the general counsel now directly owns 481,908 shares in the company, valued at $7,980,396.48. The disclosure for this sale can be found here. Insiders have sold a total of 1,511,540 shares of company stock worth $13,569,906 in the last ninety days. 22.68% of the stock is owned by insiders.

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.