Snap Inc. (NYSE:SNAP) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its stake in Snap Inc. (NYSE:SNAP) by 91.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 281,272 shares of the company’s stock after selling 2,913,332 shares during the quarter. Victory Capital Management Inc.’s holdings in Snap were worth $3,010,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GraniteShares Advisors LLC increased its stake in shares of 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 in the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of Snap by 4.0% in 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. DMC Group LLC increased its stake in shares of Snap by 10.5% in the 2nd quarter. DMC Group LLC now owns 15,583 shares of the company’s stock valued at $259,000 after purchasing an additional 1,477 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Snap by 354.1% in the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after purchasing an additional 1,682 shares in the last quarter. Finally, Wedmont Private Capital increased its stake in shares of Snap by 6.9% in the 2nd quarter. Wedmont Private Capital now owns 29,394 shares of the company’s stock valued at $476,000 after purchasing an additional 1,894 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Insiders Place Their Bets

In other Snap news, SVP Eric Young sold 50,000 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $10.54, for a total transaction of $527,000.00. Following the transaction, the senior vice president now directly owns 752,110 shares in the company, valued at $7,927,239.40. This represents a 6.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $12.50, for a total value of $12,500,000.00. Following the sale, the chief technology officer now directly owns 57,210,989 shares in the company, valued at $715,137,362.50. This represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,406,709 shares of company stock worth $16,615,487 over the last ninety days. Corporate insiders own 22.68% of the company’s stock.

Snap Trading Up 7.4 %

SNAP opened at $11.42 on Friday. Snap Inc. has a one year low of $8.29 and a one year high of $17.90. The stock has a market capitalization of $19.15 billion, a PE ratio of -19.68 and a beta of 0.99. The business’s 50 day moving average price is $10.85 and its 200 day moving average price is $12.50. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the firm earned ($0.21) earnings per share. The firm’s revenue was up 15.4% compared to the same quarter last year. As a group, equities research analysts expect that Snap Inc. will post -0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

SNAP has been the subject of several recent analyst reports. Truist Financial lifted their price target on Snap from $13.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Barclays cut their price objective on Snap from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Evercore ISI boosted their price objective on Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Susquehanna cut their price objective on Snap from $15.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Stifel Nicolaus cut their price objective on Snap from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Snap currently has an average rating of “Hold” and a consensus price target of $14.31.

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.