Snap Inc. (NYSE:SNAP) Shares Acquired by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ increased its position in shares of Snap Inc. (NYSE:SNAP) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 224,326 shares of the company’s stock after purchasing an additional 4,592 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Snap were worth $2,435,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisors Asset Management Inc. grew its stake in shares of Snap by 141.9% during the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after purchasing an additional 1,632 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Snap during the fourth quarter worth $32,000. Brooklyn Investment Group acquired a new position in shares of Snap during the third quarter worth $41,000. Blue Trust Inc. grew its stake in shares of Snap by 128.0% during the fourth quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock worth $47,000 after purchasing an additional 2,453 shares in the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new position in shares of Snap during the fourth quarter worth $54,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Trading Up 3.2 %

Shares of SNAP opened at $8.64 on Monday. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. The firm’s 50-day moving average is $10.71 and its two-hundred day moving average is $10.80. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.33. The firm has a market capitalization of $14.65 billion, a P/E ratio of -20.56 and a beta of 0.92.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. JMP Securities reissued a “market outperform” rating and issued a $16.00 price target on shares of Snap in a research report on Monday, January 27th. Wells Fargo & Company cut shares of Snap from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $15.00 to $11.00 in a research report on Wednesday, February 5th. BMO Capital Markets reissued an “outperform” rating and issued a $16.00 price target (down from $18.00) on shares of Snap in a research report on Wednesday, January 15th. JPMorgan Chase & Co. reduced their price target on shares of Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Wednesday, February 5th. Finally, Citizens Jmp cut shares of Snap from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 5th. 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.87.

Insiders Place Their Bets

In other news, CAO Rebecca Morrow sold 8,837 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $95,793.08. Following the sale, the chief accounting officer now directly owns 429,892 shares in the company, valued at $4,660,029.28. This represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the completion of the sale, the chief technology officer now owns 55,818,548 shares in the company, valued at $504,599,673.92. This represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,295,231 shares of company stock worth $12,272,639. 22.68% of the stock is owned by company insiders.

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.