Snap Inc. (NYSE:SNAP) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI boosted its holdings in Snap Inc. (NYSE:SNAP) by 32.2% during the fourth quarter, HoldingsChannel reports. The fund owned 20,302 shares of the company’s stock after buying an additional 4,944 shares during the period. National Bank of Canada FI’s holdings in Snap were worth $219,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Checchi Capital Advisers LLC lifted its stake in shares of Snap by 3.0% in the 4th quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company’s stock valued at $335,000 after purchasing an additional 901 shares during the last quarter. HCR Wealth Advisors lifted its position in Snap by 3.9% in the fourth quarter. HCR Wealth Advisors now owns 25,016 shares of the company’s stock valued at $269,000 after buying an additional 934 shares during the last quarter. Empowered Funds LLC boosted its stake in Snap by 3.1% during the fourth quarter. Empowered Funds LLC now owns 35,639 shares of the company’s stock worth $384,000 after buying an additional 1,055 shares during the period. Gradient Investments LLC increased its position in shares of Snap by 0.9% during the fourth quarter. Gradient Investments LLC now owns 142,144 shares of the company’s stock valued at $1,531,000 after acquiring an additional 1,310 shares during the last quarter. Finally, Certuity LLC increased its position in shares of Snap by 9.2% during the fourth quarter. Certuity LLC now owns 17,738 shares of the company’s stock valued at $191,000 after acquiring an additional 1,495 shares during the last quarter. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

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 that occurred on Friday, January 31st. The stock was sold at an average price of $11.49, for a total value of $206,820.00. Following the transaction, the general counsel now owns 480,498 shares of the company’s stock, valued at approximately $5,520,922.02. The trade was a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Rebecca Morrow sold 8,837 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $95,793.08. Following the sale, the chief accounting officer now owns 429,892 shares of the company’s stock, valued at $4,660,029.28. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,356,523 shares of company stock valued at $12,710,077. Insiders own 22.68% of the company’s stock.

Wall Street Analyst Weigh In

SNAP has been the subject of a number of research analyst reports. Citigroup increased their price objective on shares of Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Guggenheim reaffirmed a “neutral” rating on shares of Snap in a research note on Wednesday, April 2nd. JMP Securities reissued a “market outperform” rating and set a $16.00 target price on shares of Snap in a research note on Monday, January 27th. BMO Capital Markets restated an “outperform” rating and set a $16.00 target price (down from $18.00) on shares of Snap in a report on Wednesday, January 15th. Finally, Barclays reiterated an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.47.

Snap Stock Performance

Shares of SNAP stock opened at $7.83 on Friday. The stock’s 50-day moving average is $9.55 and its two-hundred day moving average is $10.68. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. Snap Inc. has a 1 year low of $7.08 and a 1 year high of $17.33. The firm has a market cap of $13.27 billion, a price-to-earnings ratio of -18.63 and a beta of 0.92.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (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%. Analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.

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.