Elo Mutual Pension Insurance Co Sells 18,725 Shares of Snap Inc. (NYSE:SNAP)

Elo Mutual Pension Insurance Co decreased its holdings in shares of Snap Inc. (NYSE:SNAP) by 20.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,668 shares of the company’s stock after selling 18,725 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Snap were worth $793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of SNAP. Mountain Hill Investment Partners Corp. bought a new stake in Snap during the fourth quarter valued at about $27,000. Advisors Asset Management Inc. grew its stake in shares of Snap by 141.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after acquiring an additional 1,632 shares during the period. Comprehensive Financial Planning Inc. PA purchased a new stake in Snap in the 4th quarter worth approximately $32,000. Blue Trust Inc. boosted its position in shares of Snap by 128.0% in 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 stake in shares of Snap in the fourth quarter worth $54,000. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on SNAP. Wells Fargo & Company downgraded shares of Snap from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $15.00 to $11.00 in a report on Wednesday, February 5th. Citigroup increased their target price on Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Bank of America upped their price target on Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. lowered their target price on shares of Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Wednesday, February 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $16.00 target price on shares of Snap in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $36.87.

Insiders Place Their Bets

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $10.84, for a total transaction of $195,120.00. Following the sale, the general counsel now owns 498,498 shares in the company, valued at approximately $5,403,718.32. The trade was a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Derek Andersen sold 33,618 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $8.83, for a total transaction of $296,846.94. Following the completion of the transaction, the chief financial officer now directly owns 3,507,897 shares of the company’s stock, valued at $30,974,730.51. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,350,523 shares of company stock valued at $12,698,797. 22.68% of the stock is currently owned by insiders.

Snap Stock Down 3.2 %

Snap stock opened at $8.88 on Monday. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.33. The business has a fifty day moving average of $10.16 and a two-hundred day moving average of $10.81. The firm has a market cap of $15.06 billion, a P/E ratio of -21.13 and a beta of 0.92. 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 (NYSE:SNAP) last announced its earnings results on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. On average, analysts forecast that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

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.