Banco Santander S.A. Invests $6.33 Million in Snap Inc. (NYSE:SNAP)

Banco Santander S.A. acquired a new stake in Snap Inc. (NYSE:SNAP) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 592,001 shares of the company’s stock, valued at approximately $6,334,000.

Other large investors have also bought and sold shares of the company. Hollencrest Capital Management bought a new position in Snap during the second quarter worth $33,000. Blue Trust Inc. raised its position in shares of Snap by 354.1% in the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after acquiring an additional 1,682 shares in the last quarter. Rothschild Investment LLC acquired a new position in shares of Snap in the 2nd quarter valued at about $40,000. V Square Quantitative Management LLC bought a new stake in shares of Snap during the 3rd quarter valued at about $29,000. Finally, Paladin Wealth LLC bought a new position in Snap during the third quarter worth $30,000. 47.52% of the stock is owned by institutional investors.

Insider Buying and Selling at Snap

In related news, SVP Eric Young sold 112,020 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.55, for a total value of $1,181,811.00. Following the transaction, the senior vice president now directly owns 2,791,048 shares in the company, valued at approximately $29,445,556.40. This represents a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $12.50, for a total transaction of $12,500,000.00. Following the completion of the transaction, the chief technology officer now directly owns 57,210,989 shares in the company, valued at $715,137,362.50. The trade was a 1.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,356,709 shares of company stock valued at $16,088,487 in the last quarter. 22.68% of the stock is currently owned by corporate insiders.

Snap Stock Performance

NYSE SNAP opened at $10.62 on Friday. The company’s 50 day moving average is $10.79 and its 200-day moving average is $12.55. The firm has a market cap of $17.81 billion, a P/E ratio of -18.30 and a beta of 0.99. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.90. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the company earned ($0.21) earnings per share. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. Sell-side analysts predict that Snap Inc. will post -0.41 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on SNAP shares. Susquehanna decreased their target price on Snap from $15.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Roth Mkm reaffirmed a “neutral” rating and set a $14.00 target price on shares of Snap in a research report on Wednesday, September 18th. Citigroup decreased their price target on shares of Snap from $16.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Stifel Nicolaus lowered their price objective on shares of Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, October 14th. Finally, Hsbc Global Res cut shares of Snap from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Snap presently has an average rating of “Hold” and a consensus price target of $14.31.

Snap Company Profile

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.