Generali Asset Management SPA SGR Makes New $1.35 Million Investment in Snap Inc. (NYSE:SNAP)

Generali Asset Management SPA SGR bought a new position in shares of Snap Inc. (NYSE:SNAP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 125,510 shares of the company’s stock, valued at approximately $1,352,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. grew its holdings in shares of Snap by 141.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after acquiring an additional 1,632 shares during the period. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Snap during the 4th quarter worth approximately $32,000. Brooklyn Investment Group purchased a new stake in shares of Snap in the 3rd quarter worth approximately $41,000. Blue Trust Inc. grew its stake in shares of Snap by 128.0% in the 4th quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock worth $47,000 after buying an additional 2,453 shares during the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych purchased a new stake in shares of Snap in the 4th quarter worth approximately $54,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Snap Trading Up 2.2 %

SNAP opened at $9.24 on Friday. The firm has a market cap of $15.67 billion, a P/E ratio of -21.99 and a beta of 0.92. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.33. 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 stock has a 50-day moving average of $10.44 and a 200 day moving average of $10.77.

Snap (NYSE:SNAP) last announced its quarterly earnings data 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%. As a group, research analysts forecast that Snap Inc. will post -0.3 EPS for the current year.

Insider Activity

In related news, CTO Robert C. Murphy sold 1,000,000 shares of Snap 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 transaction, the chief technology officer now directly owns 55,818,548 shares of the company’s stock, valued at $504,599,673.92. This trade represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Rebecca Morrow sold 8,837 shares of Snap stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $95,793.08. Following the transaction, the chief accounting officer now directly owns 429,892 shares in the company, valued at approximately $4,660,029.28. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,350,523 shares of company stock valued at $12,698,797. Corporate insiders own 22.68% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Citizens Jmp downgraded Snap from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Snap in a research note on Thursday, December 5th. Barclays restated an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. Susquehanna upped their price target on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, Guggenheim cut Snap from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Snap presently has an average rating of “Hold” and a consensus price target of $36.87.

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.