Charles Schwab Investment Management Inc. Grows Stock Holdings in Snap Inc. (NYSE:SNAP)

Charles Schwab Investment Management Inc. raised its position in shares of Snap Inc. (NYSE:SNAP) by 6.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,601,172 shares of the company’s stock after buying an additional 389,812 shares during the period. Charles Schwab Investment Management Inc. owned about 0.39% of Snap worth $71,095,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Snap by 49.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock valued at $41,842,000 after purchasing an additional 1,297,348 shares during the period. Groupama Asset Managment purchased a new position in Snap in the third quarter valued at $13,032,000. Assenagon Asset Management S.A. boosted its holdings in Snap by 51.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company’s stock valued at $33,244,000 after purchasing an additional 1,050,501 shares during the period. Senvest Management LLC purchased a new position in Snap in the third quarter valued at $10,064,000. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Snap by 49.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,639,681 shares of the company’s stock valued at $28,245,000 after purchasing an additional 879,212 shares during the period. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snap

In other news, CFO Derek Andersen sold 17,789 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $12.00, for a total value of $213,468.00. Following the transaction, the chief financial officer now directly owns 2,176,017 shares of the company’s stock, valued at approximately $26,112,204. This represents a 0.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Rebecca Morrow sold 8,837 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $95,793.08. Following the completion of the transaction, the chief accounting officer now directly owns 429,892 shares in the company, valued at $4,660,029.28. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 449,168 shares of company stock valued at $4,993,679. Corporate insiders own 22.68% of the company’s stock.

Snap Price Performance

Shares of NYSE:SNAP opened at $8.84 on Wednesday. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.33. The stock has a market cap of $14.99 billion, a price-to-earnings ratio of -21.04 and a beta of 0.92. The stock’s 50 day moving average price is $10.91 and its 200 day moving average price is $10.82. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, February 4th. The company reported $0.01 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%. Equities research analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SNAP has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their target price on Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Wednesday, February 5th. Guggenheim downgraded Snap from a “buy” rating to a “neutral” rating in a report on Tuesday, February 11th. Barclays reaffirmed an “overweight” rating on shares of Snap in a report on Wednesday, February 5th. JMP Securities reaffirmed a “market outperform” rating and set a $16.00 price target on shares of Snap in a report on Monday, January 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price target on shares of Snap in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $36.87.

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.