Axa S.A. Sells 1,197,094 Shares of Snap Inc. (NYSE:SNAP)

Axa S.A. cut its holdings in shares of Snap Inc. (NYSE:SNAP) by 95.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,865 shares of the company’s stock after selling 1,197,094 shares during the quarter. Axa S.A.’s holdings in Snap were worth $994,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Hollencrest Capital Management acquired a new stake in Snap during the second quarter worth approximately $33,000. Blue Trust Inc. grew its holdings in shares of Snap by 354.1% during the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after purchasing an additional 1,682 shares in the last quarter. Rothschild Investment LLC bought a new position in Snap in the 2nd quarter valued at about $40,000. J.Safra Asset Management Corp increased its stake in Snap by 534.4% in the second quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock valued at $46,000 after acquiring an additional 2,330 shares during the last quarter. Finally, JTC Employer Solutions Trustee Ltd bought a new position in shares of Snap in the 1st quarter valued at $100,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $13.28, for a total transaction of $239,040.00. Following the transaction, the general counsel now owns 463,908 shares of the company’s stock, valued at approximately $6,160,698.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $13.28, for a total value of $239,040.00. Following the transaction, the general counsel now owns 463,908 shares of the company’s stock, valued at approximately $6,160,698.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Eric Young sold 114,097 shares of the company’s stock in a transaction on 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 transaction, the senior vice president now directly owns 3,041,723 shares in the company, valued at $27,710,096.53. The disclosure for this sale can be found here. Insiders sold a total of 1,493,540 shares of company stock valued at $13,271,826 in the last ninety days. Corporate insiders own 22.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SNAP. B. Riley began coverage on shares of Snap in a research report on Friday, September 20th. They set a “neutral” rating and a $11.00 price objective for the company. Benchmark reiterated a “hold” rating on shares of Snap in a research note on Tuesday, August 6th. Argus upgraded Snap to a “hold” rating in a research report on Thursday, August 8th. Morgan Stanley upgraded Snap from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $12.00 to $16.00 in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. reduced their price target on Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, twenty-four have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Snap has an average rating of “Hold” and an average price target of $14.00.

Snap Stock Down 2.7 %

Shares of SNAP opened at $10.41 on Wednesday. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74. The business has a fifty day moving average of $10.03 and a 200 day moving average of $12.77. The company has a market cap of $17.08 billion, a PE ratio of -12.85 and a beta of 1.00. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.90.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.02. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.25 billion. On average, sell-side analysts expect that Snap Inc. will post -0.47 EPS for the current 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.