Snap Inc. (NYSE:SNAP) Shares Purchased by UBS Asset Management Americas Inc.

UBS Asset Management Americas Inc. grew its holdings in shares of Snap Inc. (NYSE:SNAP) by 0.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,294,936 shares of the company’s stock after acquiring an additional 19,250 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.15% of Snap worth $114,907,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. acquired a new position in shares of Snap during the fourth quarter valued at $25,000. Joseph P. Lucia & Associates LLC acquired a new stake in Snap in the fourth quarter worth about $31,000. Arlington Partners LLC grew its position in Snap by 43.8% in the 4th quarter. Arlington Partners LLC now owns 719 shares of the company’s stock valued at $36,000 after buying an additional 219 shares in the last quarter. Oder Investment Management LLC acquired a new position in Snap during the 4th quarter valued at about $41,000. Finally, Annapolis Financial Services LLC acquired a new position in Snap during the 4th quarter valued at about $75,000. 47.52% of the stock is owned by institutional investors.

In other Snap news, CFO Derek Andersen sold 8,662 shares of Snap stock in a transaction on Tuesday, January 19th. The stock was sold at an average price of $50.43, for a total transaction of $436,824.66. Following the completion of the transaction, the chief financial officer now directly owns 1,263,120 shares of the company’s stock, valued at $63,699,141.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jared Grusd sold 52,810 shares of the business’s stock in a transaction on Tuesday, January 19th. The shares were sold at an average price of $50.37, for a total transaction of $2,660,039.70. Following the completion of the sale, the insider now owns 1,735,593 shares in the company, valued at approximately $87,421,819.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 262,663 shares of company stock worth $14,993,745.

A number of research analysts recently commented on SNAP shares. Jefferies Financial Group raised their price objective on shares of Snap from $61.00 to $85.00 and gave the company a “buy” rating in a research note on Tuesday, March 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Snap from $60.00 to $74.00 in a research note on Wednesday, February 24th. Credit Suisse Group raised their target price on Snap from $65.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, March 2nd. Wedbush upped their price target on shares of Snap from $34.50 to $52.00 and gave the company a “neutral” rating in a report on Friday, February 5th. They noted that the move was a valuation call. Finally, Stifel Nicolaus lifted their price objective on shares of Snap from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, February 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Snap currently has a consensus rating of “Buy” and an average price target of $66.29.

Shares of NYSE:SNAP opened at $60.23 on Thursday. The firm has a market capitalization of $90.85 billion, a PE ratio of -80.31 and a beta of 1.29. The company has a current ratio of 5.43, a quick ratio of 5.43 and a debt-to-equity ratio of 0.75. Snap Inc. has a 1-year low of $12.44 and a 1-year high of $73.59. The business’s 50 day moving average is $59.11 and its 200-day moving average is $48.31.

Snap (NYSE:SNAP) last issued its earnings results on Thursday, February 4th. The company reported ($0.07) earnings per share for the quarter, meeting the consensus estimate of ($0.07). The business had revenue of $911.32 million for the quarter, compared to analyst estimates of $847.44 million. Snap had a negative net margin of 49.74% and a negative return on equity of 48.53%. On average, sell-side analysts predict that Snap Inc. will post -0.64 EPS for the current year.

About Snap

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application with functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate through short videos and images. It also provides Spectacles, an eyewear product that connects with Snapchat and captures video from a human perspective; and advertising products, including AR and Snap ads.

Further Reading: Depreciation

Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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