Skandinaviska Enskilda Banken AB publ Increases Position in Snap Inc. (NYSE:SNAP)

Skandinaviska Enskilda Banken AB publ lifted its position in shares of Snap Inc. (NYSE:SNAP) by 2.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 224,326 shares of the company’s stock after buying an additional 4,592 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Snap were worth $2,435,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Advisors Asset Management Inc. raised its stake in 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 during the period. Comprehensive Financial Planning Inc. PA purchased a new position in Snap during the fourth quarter worth approximately $32,000. Brooklyn Investment Group purchased a new position in Snap during the third quarter worth approximately $41,000. Blue Trust Inc. raised its stake in 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 during the period. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych purchased a new position in Snap during the fourth quarter worth approximately $54,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Snap Price Performance

Shares of NYSE:SNAP opened at $8.64 on Monday. 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 Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.33. The firm has a 50-day simple moving average of $10.71 and a 200 day simple moving average of $10.80. The company has a market cap of $14.65 billion, a PE ratio of -20.56 and a beta of 0.92.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. On average, sell-side analysts anticipate that Snap Inc. will post -0.3 EPS for the current year.

Wall Street Analysts Forecast Growth

SNAP has been the topic of a number of recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $16.00 price target on shares of Snap in a research note on Monday, January 27th. JPMorgan Chase & Co. cut their price target on shares of Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 5th. Susquehanna lifted their target price on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Snap in a report on Thursday, December 5th. Finally, BMO Capital Markets restated an “outperform” rating and set a $16.00 target price (down previously from $18.00) on shares of Snap in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.87.

Insider Activity at Snap

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction dated 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 transaction, the chief technology officer now directly owns 55,818,548 shares of the company’s stock, valued at $504,599,673.92. The trade was a 1.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Rebecca Morrow sold 8,837 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $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. Insiders sold a total of 1,295,231 shares of company stock valued at $12,272,639 in the last quarter. Insiders own 22.68% of the company’s stock.

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.