APG Asset Management N.V. Sells 82,550 Shares of Snap Inc. (NYSE:SNAP)

APG Asset Management N.V. cut its holdings in Snap Inc. (NYSE:SNAP) by 5.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,349,352 shares of the company’s stock after selling 82,550 shares during the quarter. APG Asset Management N.V.’s holdings in Snap were worth $77,532,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Swiss National Bank lifted its stake in Snap by 7.6% in the second quarter. Swiss National Bank now owns 3,831,858 shares of the company’s stock valued at $261,103,000 after buying an additional 270,632 shares during the period. ProShare Advisors LLC lifted its stake in Snap by 7.4% in the second quarter. ProShare Advisors LLC now owns 50,021 shares of the company’s stock valued at $3,408,000 after buying an additional 3,454 shares during the period. Park Avenue Securities LLC lifted its stake in Snap by 24.9% in the second quarter. Park Avenue Securities LLC now owns 15,754 shares of the company’s stock valued at $1,073,000 after buying an additional 3,139 shares during the period. Virtu Financial LLC acquired a new position in Snap in the first quarter valued at approximately $4,836,000. Finally, Morris Retirement Advisors LLC acquired a new position in Snap in the second quarter valued at approximately $238,000. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

In other Snap news, General Counsel Michael J. O’sullivan sold 6,000 shares of the firm’s stock in a transaction dated Thursday, September 30th. The stock was sold at an average price of $73.82, for a total value of $442,920.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joanna Coles sold 1,792 shares of the firm’s stock in a transaction dated Friday, August 13th. The stock was sold at an average price of $75.29, for a total value of $134,919.68. The disclosure for this sale can be found here. Insiders have sold a total of 4,191,708 shares of company stock valued at $316,728,536 in the last quarter.

A number of equities analysts have recently weighed in on the company. Susquehanna upped their target price on Snap from $62.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, July 23rd. Royal Bank of Canada assumed coverage on Snap in a research report on Thursday, September 30th. They set an “outperform” rating and a $88.00 target price on the stock. Citigroup reaffirmed a “sell” rating and set a $76.32 target price (up from $42.00) on shares of Snap in a research report on Tuesday, July 27th. Piper Sandler upped their target price on Snap from $83.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, July 23rd. Finally, Guggenheim reaffirmed an “average” rating and set a $85.00 target price on shares of Snap in a research report on Friday, September 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirty have assigned a buy rating to the company’s stock. According to MarketBeat, Snap currently has a consensus rating of “Buy” and a consensus price target of $78.47.

SNAP stock opened at $74.95 on Thursday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 5.80 and a current ratio of 5.80. The company has a market capitalization of $118.50 billion, a price-to-earnings ratio of -146.96 and a beta of 1.27. Snap Inc. has a fifty-two week low of $26.68 and a fifty-two week high of $83.34. The stock has a fifty day moving average of $74.64 and a 200-day moving average of $66.33.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, July 22nd. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.28. The company had revenue of $982.11 million during the quarter, compared to the consensus estimate of $846.57 million. Snap had a negative return on equity of 32.45% and a negative net margin of 22.49%. The firm’s quarterly revenue was up 116.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.09) EPS. Equities analysts predict that Snap Inc. will post -0.4 EPS for the current year.

About Snap

Snap, Inc engages in the operation of its camera platform. Its products include Snapchat, using the camera and editing tools to take and share Snaps, Friends Page, which lets users create and use Stories, Groups, Video and Chat, Discover for searching and surfacing relevant Stories, Snap Map, which shows friends, Stories and Snaps near the user, Memories, for saving personal collections, and Spectacles, wearable sunglasses capable of taking Snaps and interacting directly with the Snapchat application.

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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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