State of New Jersey Common Pension Fund D Decreases Holdings in Snap Inc. (NYSE:SNAP)

State of New Jersey Common Pension Fund D lowered its holdings in shares of Snap Inc. (NYSE:SNAPFree Report) by 4.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 595,793 shares of the company’s stock after selling 26,309 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Snap were worth $5,309,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC purchased a new stake in Snap in the fourth quarter valued at approximately $29,000. Newbridge Financial Services Group Inc. lifted its position in Snap by 75.0% during the third quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the company’s stock valued at $31,000 after buying an additional 1,500 shares in the last quarter. NVP Associates LLC acquired a new position in Snap during the second quarter valued at approximately $41,000. Tower Research Capital LLC TRC lifted its position in Snap by 365.3% during the second quarter. Tower Research Capital LLC TRC now owns 3,941 shares of the company’s stock valued at $47,000 after buying an additional 3,094 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in Snap during the first quarter valued at approximately $49,000. Institutional investors and hedge funds own 44.37% of the company’s stock.

Insider Buying and Selling at Snap

In other Snap news, CFO Derek Andersen sold 10,047 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $12.15, for a total value of $122,071.05. Following the completion of the sale, the chief financial officer now directly owns 2,333,483 shares of the company’s stock, valued at approximately $28,351,818.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Eric Young sold 119,112 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $11.90, for a total value of $1,417,432.80. Following the transaction, the senior vice president now owns 3,391,040 shares in the company, valued at approximately $40,353,376. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Derek Andersen sold 10,047 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $12.15, for a total value of $122,071.05. Following the completion of the transaction, the chief financial officer now owns 2,333,483 shares in the company, valued at approximately $28,351,818.45. The disclosure for this sale can be found here. In the last three months, insiders sold 426,589 shares of company stock valued at $5,463,043.

Snap Stock Performance

Shares of SNAP opened at $11.64 on Tuesday. The firm has a 50-day moving average price of $16.02 and a 200 day moving average price of $12.23. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 1.55. Snap Inc. has a 52-week low of $7.86 and a 52-week high of $17.90.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SNAP. Deutsche Bank Aktiengesellschaft raised shares of Snap from a “hold” rating to a “buy” rating and boosted their target price for the stock from $10.00 to $19.00 in a research report on Friday, January 26th. JPMorgan Chase & Co. boosted their target price on shares of Snap from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 25th. Wells Fargo & Company reduced their target price on shares of Snap from $22.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 7th. Rosenblatt Securities boosted their target price on shares of Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Finally, Guggenheim raised shares of Snap from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $9.00 to $23.00 in a research report on Monday, December 18th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.70.

Check Out Our Latest Report on Snap

Snap Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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