Public Employees Retirement Association of Colorado Sells 7,786 Shares of Snap Inc. (NYSE:SNAP)

Public Employees Retirement Association of Colorado lowered its holdings in shares of Snap Inc. (NYSE:SNAP) by 6.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 110,329 shares of the company’s stock after selling 7,786 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Snap were worth $1,833,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Carmignac Gestion bought a new position in Snap in the 4th quarter valued at about $110,103,000. TCW Group Inc. bought a new position in shares of Snap during the fourth quarter worth approximately $275,000. V Square Quantitative Management LLC increased its holdings in shares of Snap by 72.7% during the fourth quarter. V Square Quantitative Management LLC now owns 11,119 shares of the company’s stock worth $188,000 after purchasing an additional 4,679 shares during the period. Alta Park Capital LP acquired a new stake in shares of Snap in the fourth quarter valued at approximately $13,845,000. Finally, Contrarius Investment Management Ltd acquired a new stake in Snap during the fourth quarter worth approximately $80,644,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on SNAP. Truist Financial dropped their price objective on Snap from $16.00 to $13.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Wolfe Research initiated coverage on shares of Snap in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $14.00 target price on shares of Snap in a report on Wednesday, September 18th. Cantor Fitzgerald restated a “neutral” rating and issued a $8.00 target price on shares of Snap in a research report on Monday. Finally, B. Riley began coverage on shares of Snap in a research report on Friday. They set a “neutral” rating and a $11.00 price target on the stock. One research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.76.

Snap Price Performance

Shares of NYSE:SNAP opened at $10.20 on Tuesday. The firm has a market cap of $16.74 billion, a PE ratio of -12.59 and a beta of 1.00. Snap Inc. has a 52 week low of $8.28 and a 52 week high of $17.90. The firm’s fifty day moving average is $10.46 and its 200-day moving average is $12.82. 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 (NYSE:SNAP) last announced its earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.25 billion. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. Sell-side analysts predict that Snap Inc. will post -0.48 earnings per share for the current year.

Insider Buying and Selling

In other Snap news, SVP Eric Young sold 114,097 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.11, for a total transaction of $1,039,423.67. Following the completion of the transaction, the senior vice president now owns 3,041,723 shares in the company, valued at approximately $27,710,096.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Eric Young sold 114,097 shares of Snap stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.11, for a total value of $1,039,423.67. Following the completion of the transaction, the senior vice president now directly owns 3,041,723 shares of the company’s stock, valued at approximately $27,710,096.53. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 59,053 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $9.29, for a total value of $548,602.37. Following the completion of the transaction, the general counsel now directly owns 1,258,278 shares in the company, valued at $11,689,402.62. The disclosure for this sale can be found here. Insiders have sold a total of 1,511,540 shares of company stock valued at $13,569,906 over the last ninety days. 22.68% of the stock is owned by company insiders.

About Snap

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.