Mirae Asset Global Investments Co. Ltd. Boosts Stake in Snap Inc. (NYSE:SNAP)

Mirae Asset Global Investments Co. Ltd. raised its holdings in Snap Inc. (NYSE:SNAP) by 42.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 82,750 shares of the company’s stock after acquiring an additional 24,533 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Snap were worth $909,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of SNAP. Stratos Wealth Partners LTD. raised its stake in Snap by 7.4% in the fourth quarter. Stratos Wealth Partners LTD. now owns 37,668 shares of the company’s stock valued at $406,000 after purchasing an additional 2,610 shares in the last quarter. SYM FINANCIAL Corp raised its position in shares of Snap by 17.9% during the 4th quarter. SYM FINANCIAL Corp now owns 18,507 shares of the company’s stock valued at $199,000 after buying an additional 2,810 shares in the last quarter. Baader Bank Aktiengesellschaft lifted its holdings in shares of Snap by 23.1% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 160,791 shares of the company’s stock worth $1,731,000 after acquiring an additional 30,126 shares during the last quarter. Swedbank AB grew its position in Snap by 9.7% in the fourth quarter. Swedbank AB now owns 167,431 shares of the company’s stock worth $1,803,000 after acquiring an additional 14,868 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC bought a new position in Snap in the fourth quarter valued at $110,000. Institutional investors own 47.52% of the company’s stock.

Snap Trading Up 1.7 %

NYSE SNAP opened at $10.90 on Wednesday. The stock’s 50 day moving average is $11.40 and its 200 day moving average is $10.78. The company has a quick ratio of 4.04, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $18.27 billion, a PE ratio of -25.94 and a beta of 0.99. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.33.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. Research analysts forecast that Snap Inc. will post -0.26 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Derek Andersen sold 94,164 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $11.44, for a total value of $1,077,236.16. Following the transaction, the chief financial officer now owns 2,193,806 shares in the company, valued at approximately $25,097,140.64. This represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Rebecca Morrow sold 32,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $12.42, for a total transaction of $397,440.00. Following the sale, the chief accounting officer now owns 433,064 shares in the company, valued at approximately $5,378,654.88. The trade was a 6.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 443,518 shares of company stock worth $4,947,981. Insiders own 22.68% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Citigroup lifted their price target on Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Loop Capital boosted their target price on Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Needham & Company LLC reiterated a “buy” rating and set a $640.00 price target on shares of Snap in a research report on Thursday, December 5th. Benchmark reissued a “hold” rating on shares of Snap in a research note on Friday, October 25th. Finally, B. Riley upped their price objective on shares of Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $36.87.

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.