BI Asset Management Fondsmaeglerselskab A S Buys 27,335 Shares of Snap Inc. (NYSE:SNAP)

BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Snap Inc. (NYSE:SNAP) by 51.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 80,821 shares of the company’s stock after acquiring an additional 27,335 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Snap were worth $928,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SNAP. Vanguard Group Inc. boosted its position in shares of Snap by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock worth $1,613,729,000 after purchasing an additional 3,503,230 shares during the period. SRS Investment Management LLC boosted its holdings in Snap by 23.6% in the 4th quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock worth $1,102,392,000 after buying an additional 12,452,415 shares during the period. Capital World Investors increased its stake in Snap by 0.6% in the 4th quarter. Capital World Investors now owns 45,887,082 shares of the company’s stock worth $776,868,000 after buying an additional 274,176 shares in the last quarter. Carmignac Gestion bought a new stake in Snap during the fourth quarter valued at about $110,103,000. Finally, TB Alternative Assets Ltd. lifted its position in shares of Snap by 144.5% in the first quarter. TB Alternative Assets Ltd. now owns 5,094,800 shares of the company’s stock valued at $58,488,000 after acquiring an additional 3,011,400 shares in the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $14.27, for a total transaction of $14,270,000.00. Following the transaction, the chief technology officer now directly owns 59,894,865 shares in the company, valued at $854,699,723.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Snap news, CEO Evan Spiegel sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $14.35, for a total value of $2,152,500.00. Following the completion of the sale, the chief executive officer now directly owns 3,477,844 shares in the company, valued at $49,907,061.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $14.27, for a total value of $14,270,000.00. Following the transaction, the chief technology officer now directly owns 59,894,865 shares in the company, valued at $854,699,723.55. The disclosure for this sale can be found here. Insiders have sold a total of 1,372,583 shares of company stock worth $19,934,275 in the last three months.

Analysts Set New Price Targets

A number of research firms recently commented on SNAP. Roth Mkm reissued a “neutral” rating and issued a $14.00 price target on shares of Snap in a report on Tuesday, April 23rd. Barclays boosted their price target on shares of Snap from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Raymond James reaffirmed an “outperform” rating and issued a $16.00 price objective (up previously from $15.00) on shares of Snap in a research note on Friday, April 26th. Benchmark reiterated a “hold” rating on shares of Snap in a research report on Friday, April 26th. Finally, The Goldman Sachs Group boosted their price target on shares of Snap from $13.50 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $14.82.

Snap Trading Up 0.3 %

NYSE:SNAP traded up $0.05 during midday trading on Wednesday, hitting $16.80. The stock had a trading volume of 6,183,670 shares, compared to its average volume of 27,785,000. The stock has a 50-day moving average of $15.88 and a 200 day moving average of $14.13. The company has a market capitalization of $27.57 billion, a price-to-earnings ratio of -20.68 and a beta of 1.03. Snap Inc. has a one year low of $8.28 and a one year high of $17.90. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 1.55.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.12 billion. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. As a group, sell-side analysts forecast that Snap Inc. will post -0.43 EPS for the current 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.