Snap Inc. (NYSE:SNAP) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc grew its holdings in Snap Inc. (NYSE:SNAP) by 12.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,524 shares of the company’s stock after acquiring an additional 5,876 shares during the period. CIBC Asset Management Inc’s holdings in Snap were worth $576,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of SNAP. Charles Schwab Investment Management Inc. grew its stake in shares of Snap by 62.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after acquiring an additional 2,386,519 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of 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 worth $41,842,000 after acquiring an additional 1,297,348 shares in the last quarter. Groupama Asset Managment acquired a new position in shares of Snap in the third quarter worth $13,032,000. Assenagon Asset Management S.A. grew its stake in shares of Snap by 51.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company’s stock worth $33,244,000 after acquiring an additional 1,050,501 shares in the last quarter. Finally, Senvest Management LLC acquired a new position in shares of Snap during the third quarter worth $10,064,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Insider Buying and Selling

In other Snap news, CAO Rebecca Morrow sold 8,837 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $95,793.08. Following the completion of the transaction, the chief accounting officer now directly owns 429,892 shares of the company’s stock, valued at approximately $4,660,029.28. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $11.89, for a total transaction of $214,020.00. Following the completion of the transaction, the general counsel now directly owns 464,009 shares of the company’s stock, valued at approximately $5,517,067.01. This trade represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 499,471 shares of company stock valued at $5,608,926 over the last ninety days. Corporate insiders own 22.68% of the company’s stock.

Snap Trading Down 3.1 %

NYSE SNAP opened at $10.35 on Friday. The stock has a market capitalization of $17.55 billion, a P/E ratio of -24.63 and a beta of 0.99. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.33. The firm has a 50-day moving average price of $11.19 and a 200 day moving average price of $10.75. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47.

Snap (NYSE:SNAP) last posted 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%. Equities research analysts expect that Snap Inc. will post -0.3 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. JMP Securities reiterated a “market outperform” rating and set a $16.00 target price on shares of Snap in a research note on Monday, January 27th. Evercore ISI boosted their target price on shares of Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group boosted their target price on shares of Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Barclays reiterated an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. Finally, B. Riley boosted their target price on shares of Snap from $11.00 to $12.00 and gave the stock 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 assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Snap has an average rating of “Hold” and an average price target 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.