Main Street Research LLC Reduces Stock Holdings in Snap Inc. (NYSE:SNAP)

Main Street Research LLC decreased its position in Snap Inc. (NYSE:SNAP) by 25.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,630 shares of the company’s stock after selling 18,544 shares during the period. Main Street Research LLC’s holdings in Snap were worth $942,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of SNAP. Cerity Partners LLC boosted its holdings in shares of Snap by 19.0% in the fourth quarter. Cerity Partners LLC now owns 222,124 shares of the company’s stock worth $3,761,000 after acquiring an additional 35,452 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Snap by 77.1% in the fourth quarter. International Assets Investment Management LLC now owns 11,970 shares of the company’s stock worth $203,000 after acquiring an additional 5,213 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Snap by 50.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,382,917 shares of the company’s stock valued at $23,413,000 after buying an additional 462,977 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in Snap by 171.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 493,744 shares of the company’s stock valued at $8,312,000 after buying an additional 311,552 shares during the period. Finally, Prime Capital Investment Advisors LLC bought a new stake in Snap during the fourth quarter valued at $515,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Insider Buying and Selling

In other Snap news, CAO Rebecca Morrow sold 9,386 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $11.14, for a total transaction of $104,560.04. Following the completion of the sale, the chief accounting officer now directly owns 495,526 shares in the company, valued at approximately $5,520,159.64. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Snap news, CAO Rebecca Morrow sold 9,386 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $11.14, for a total transaction of $104,560.04. Following the completion of the sale, the chief accounting officer now directly owns 495,526 shares in the company, valued at approximately $5,520,159.64. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Eric Young sold 120,472 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $11.13, for a total transaction of $1,340,853.36. Following the sale, the senior vice president now owns 3,540,852 shares of the company’s stock, valued at $39,409,682.76. The disclosure for this sale can be found here. Insiders sold a total of 470,054 shares of company stock worth $5,279,729 in the last three months.

Analyst Ratings Changes

SNAP has been the subject of several research analyst reports. Rosenblatt Securities lifted their price objective on Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. The Goldman Sachs Group dropped their price objective on Snap from $15.00 to $13.50 and set a “neutral” rating for the company in a research note on Thursday, February 8th. UBS Group lowered their price target on Snap from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday. Truist Financial raised their price target on Snap from $11.00 to $12.00 and gave the company a “hold” rating in a research report on Wednesday, February 7th. Finally, Royal Bank of Canada lowered their price target on Snap from $17.00 to $13.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Snap has an average rating of “Hold” and an average target price of $13.65.

Snap Stock Up 0.7 %

NYSE SNAP traded up $0.07 during mid-day trading on Tuesday, reaching $10.41. The stock had a trading volume of 17,376,132 shares, compared to its average volume of 28,934,586. Snap Inc. has a 1 year low of $7.86 and a 1 year high of $17.90. The stock has a market cap of $17.18 billion, a PE ratio of -12.45 and a beta of 1.13. The company has a fifty day moving average price of $11.35 and a 200 day moving average price of $12.72. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.39 and a quick ratio of 4.39.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, February 6th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.39 billion. On average, research analysts expect that Snap Inc. will post -0.58 earnings per share 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.