Capital World Investors Has $713.81 Million Stock Position in Snap Inc. $SNAP

Capital World Investors increased its stake in shares of Snap Inc. (NYSE:SNAP) by 1.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 88,452,006 shares of the company’s stock after buying an additional 1,179,543 shares during the period. Capital World Investors owned approximately 0.05% of Snap worth $713,808,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SNAP. Korea Investment CORP raised its holdings in Snap by 573.6% during the 3rd quarter. Korea Investment CORP now owns 967,544 shares of the company’s stock worth $7,460,000 after purchasing an additional 823,900 shares during the last quarter. Contrarius Group Holdings Ltd bought a new stake in Snap during the 3rd quarter worth about $10,256,000. DNB Asset Management AS raised its holdings in Snap by 433.6% during the 3rd quarter. DNB Asset Management AS now owns 1,042,873 shares of the company’s stock worth $8,041,000 after purchasing an additional 847,447 shares during the last quarter. Quantbot Technologies LP raised its holdings in Snap by 54.4% during the 3rd quarter. Quantbot Technologies LP now owns 749,724 shares of the company’s stock worth $5,780,000 after purchasing an additional 264,156 shares during the last quarter. Finally, Ausdal Financial Partners Inc. raised its holdings in Snap by 76.3% during the 3rd quarter. Ausdal Financial Partners Inc. now owns 628,109 shares of the company’s stock worth $4,843,000 after purchasing an additional 271,893 shares during the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Insider Buying and Selling at Snap

In related news, CAO Rebecca Morrow sold 16,729 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $5.60, for a total transaction of $93,682.40. Following the completion of the sale, the chief accounting officer directly owned 512,811 shares of the company’s stock, valued at approximately $2,871,741.60. This represents a 3.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Douglas Hott sold 114,702 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $5.67, for a total value of $650,360.34. Following the sale, the chief financial officer directly owned 2,456,447 shares of the company’s stock, valued at approximately $13,928,054.49. The trade was a 4.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 3,021,330 shares of company stock worth $16,608,998 in the last quarter.

Snap Stock Performance

Shares of SNAP stock opened at $5.76 on Monday. The company has a debt-to-equity ratio of 1.67, a current ratio of 3.53 and a quick ratio of 3.53. The stock has a market cap of $9.72 billion, a PE ratio of -23.99 and a beta of 1.03. The stock has a 50-day moving average of $5.50 and a 200-day moving average of $6.24. Snap Inc. has a one year low of $3.81 and a one year high of $10.41.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.14). The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.53 billion. Snap had a negative net margin of 6.72% and a negative return on equity of 18.92%. The business’s revenue was up 12.2% compared to the same quarter last year. During the same period last year, the company earned ($0.08) earnings per share. As a group, sell-side analysts expect that Snap Inc. will post -0.06 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Morgan Stanley dropped their price objective on Snap from $9.50 to $6.50 and set an “equal weight” rating for the company in a report on Sunday, February 22nd. Benchmark assumed coverage on Snap in a report on Monday, April 27th. They set a “buy” rating for the company. Rothschild & Co Redburn raised Snap from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Monday, April 27th. Guggenheim reissued a “neutral” rating and set a $6.50 price objective on shares of Snap in a report on Thursday, April 16th. Finally, Canaccord Genuity Group lowered their price target on Snap from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty-two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $7.91.

Snap Company Profile

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.