Swiss National Bank Makes New $31.66 Million Investment in Snap Inc (NYSE:SNAP)

Swiss National Bank acquired a new position in Snap Inc (NYSE:SNAP) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,213,900 shares of the company’s stock, valued at approximately $31,659,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in Snap by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 4,810,361 shares of the company’s stock worth $26,505,000 after buying an additional 208,932 shares during the period. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Snap in the 2nd quarter valued at approximately $36,518,000. Miracle Mile Advisors LLC lifted its stake in shares of Snap by 1,687.3% in the 1st quarter. Miracle Mile Advisors LLC now owns 1,429,858 shares of the company’s stock valued at $15,757,000 after purchasing an additional 1,349,858 shares during the period. KCL Capital L.P. purchased a new position in shares of Snap in the 1st quarter valued at approximately $12,122,000. Finally, Marshall Wace North America L.P. purchased a new position in shares of Snap in the 1st quarter valued at approximately $8,059,000. Institutional investors and hedge funds own 26.52% of the company’s stock.

A number of research analysts have recently commented on the company. Deutsche Bank raised their target price on Snap from $13.00 to $16.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Credit Suisse Group raised their target price on Snap from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Barclays raised their target price on Snap from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Morgan Stanley raised their target price on Snap from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Wednesday, July 24th. Finally, Zacks Investment Research cut Snap from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Three analysts have rated the stock with a sell rating, twenty have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $14.88.

In other Snap news, VP Jerry James Hunter sold 70,702 shares of Snap stock in a transaction on Monday, June 17th. The stock was sold at an average price of $13.74, for a total value of $971,445.48. Following the completion of the sale, the vice president now owns 1,740,621 shares of the company’s stock, valued at approximately $23,916,132.54. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeremi Gorman sold 11,111 shares of Snap stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $11.99, for a total value of $133,220.89. Following the completion of the sale, the insider now directly owns 2,866,935 shares of the company’s stock, valued at approximately $34,374,550.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,797,074 shares of company stock valued at $90,994,583.

SNAP stock opened at $16.51 on Thursday. Snap Inc has a twelve month low of $4.82 and a twelve month high of $18.36. The company has a quick ratio of 4.53, a current ratio of 4.53 and a debt-to-equity ratio of 0.15. The firm has a market cap of $22.29 billion, a PE ratio of -17.02 and a beta of 1.10. The business has a 50 day moving average of $16.01 and a 200 day moving average of $12.48.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported ($0.19) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.02. Snap had a negative return on equity of 46.46% and a negative net margin of 77.54%. The company had revenue of $388.02 million during the quarter, compared to analyst estimates of $358.16 million. During the same quarter last year, the company earned ($0.14) EPS. The firm’s revenue for the quarter was up 48.0% on a year-over-year basis. On average, research analysts expect that Snap Inc will post -0.71 earnings per share for the current fiscal year.

Snap Company Profile

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.

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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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