Snap Inc. (NYSE:SNAP) Stock Position Reduced by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its stake in Snap Inc. (NYSE:SNAP) by 13.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 173,533 shares of the company’s stock after selling 27,050 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Snap were worth $1,857,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Cetera Advisors LLC lifted its holdings in shares of Snap by 32.0% during the 1st quarter. Cetera Advisors LLC now owns 18,631 shares of the company’s stock valued at $214,000 after buying an additional 4,517 shares during the last quarter. CWM LLC grew its position in Snap by 83.3% in the second quarter. CWM LLC now owns 97,721 shares of the company’s stock worth $1,623,000 after acquiring an additional 44,405 shares in the last quarter. Curated Wealth Partners LLC increased its stake in shares of Snap by 200.0% during the 2nd quarter. Curated Wealth Partners LLC now owns 536,541 shares of the company’s stock worth $8,912,000 after purchasing an additional 1,073,082 shares during the last quarter. Wedmont Private Capital increased its stake in shares of Snap by 6.9% during the 2nd quarter. Wedmont Private Capital now owns 29,394 shares of the company’s stock worth $476,000 after purchasing an additional 1,894 shares during the last quarter. Finally, DMC Group LLC raised its holdings in shares of Snap by 10.5% during the 2nd quarter. DMC Group LLC now owns 15,583 shares of the company’s stock valued at $259,000 after purchasing an additional 1,477 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Wall Street Analysts Forecast Growth

SNAP has been the topic of several analyst reports. Guggenheim reissued a “buy” rating and set a $12.11 target price on shares of Snap in a research report on Tuesday. Wells Fargo & Company cut their price objective on Snap from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. Stifel Nicolaus decreased their target price on Snap from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Monday, October 14th. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price target on shares of Snap in a research report on Thursday. Finally, Evercore ISI upped their price objective on shares of Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.10.

Insider Buying and Selling at Snap

In other Snap news, CAO Rebecca Morrow sold 11,154 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.55, for a total value of $117,674.70. Following the completion of the transaction, the chief accounting officer now directly owns 465,064 shares of the company’s stock, valued at approximately $4,906,425.20. The trade was a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Derek Andersen sold 97,608 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $9.29, for a total transaction of $906,778.32. Following the sale, the chief financial officer now directly owns 2,287,970 shares in the company, valued at $21,255,241.30. This trade represents a 4.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,406,709 shares of company stock worth $16,662,107. 22.68% of the stock is currently owned by insiders.

Snap Stock Down 3.7 %

Shares of NYSE:SNAP opened at $12.16 on Friday. The company’s fifty day moving average is $11.20 and its 200-day moving average is $12.24. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.90. The company has a market capitalization of $20.39 billion, a PE ratio of -20.96 and a beta of 0.97.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. Snap’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.21) earnings per share. Equities research analysts predict that Snap Inc. will post -0.4 earnings per share for the current fiscal year.

Snap 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.