Skandinaviska Enskilda Banken AB publ Raises Holdings in Snap Inc. (NYSE:SNAP)

Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Snap Inc. (NYSE:SNAP) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 214,080 shares of the company’s stock after acquiring an additional 2,916 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Snap were worth $3,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hollencrest Capital Management bought a new position in shares of Snap in the second quarter worth about $33,000. Blue Trust Inc. increased its position in shares of Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after buying an additional 1,682 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of Snap during the second quarter worth about $40,000. J.Safra Asset Management Corp increased its position in shares of Snap by 534.4% during the second quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock worth $46,000 after purchasing an additional 2,330 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new position in Snap in the 4th quarter worth approximately $108,000. 47.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group dropped their price objective on Snap from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. JMP Securities restated a “market perform” rating on shares of Snap in a research note on Wednesday, September 18th. Wolfe Research started coverage on Snap in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Benchmark restated a “hold” rating on shares of Snap in a report on Tuesday, August 6th. Finally, Truist Financial decreased their target price on shares of Snap from $16.00 to $13.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $13.76.

Insider Transactions at Snap

In other Snap news, CFO Derek Andersen sold 97,608 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $9.29, for a total value of $906,778.32. Following the sale, the chief financial officer now owns 2,287,970 shares of the company’s stock, valued at approximately $21,255,241.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Derek Andersen sold 97,608 shares of the company’s 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 transaction, the chief financial officer now owns 2,287,970 shares in the company, valued at $21,255,241.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Rebecca Morrow sold 8,923 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.10, for a total value of $81,199.30. Following the transaction, the chief accounting officer now directly owns 472,405 shares of the company’s stock, valued at approximately $4,298,885.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,511,540 shares of company stock valued at $13,569,906. 22.68% of the stock is currently owned by company insiders.

Snap Price Performance

SNAP opened at $10.05 on Monday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. The firm has a 50-day moving average of $10.58 and a 200 day moving average of $12.83. Snap Inc. has a fifty-two week low of $8.28 and a fifty-two week high of $17.90. The firm has a market cap of $16.49 billion, a P/E ratio of -12.41 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 company had revenue of $1.24 billion for 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%. On average, research analysts expect that Snap Inc. will post -0.48 EPS for the current year.

Snap Company 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.