State of New Jersey Common Pension Fund D Cuts Stock Position in Snap Inc. (NYSE:SNAP)

State of New Jersey Common Pension Fund D reduced its position in Snap Inc. (NYSE:SNAPFree Report) by 4.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 595,793 shares of the company’s stock after selling 26,309 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Snap were worth $5,309,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ICA Group Wealth Management LLC purchased a new position in shares of Snap in the 4th quarter worth about $29,000. NVP Associates LLC purchased a new stake in Snap during the 2nd quarter valued at about $41,000. Newbridge Financial Services Group Inc. boosted its holdings in Snap by 75.0% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the company’s stock valued at $31,000 after acquiring an additional 1,500 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Snap by 365.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,941 shares of the company’s stock valued at $47,000 after acquiring an additional 3,094 shares during the period. Finally, Sunbelt Securities Inc. purchased a new stake in Snap during the 1st quarter valued at about $49,000. 44.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snap

In other news, CAO Rebecca Morrow sold 1,792 shares of Snap stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $17.13, for a total value of $30,696.96. Following the sale, the chief accounting officer now directly owns 307,026 shares of the company’s stock, valued at $5,259,355.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Rebecca Morrow sold 1,792 shares of Snap stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $17.13, for a total value of $30,696.96. Following the completion of the transaction, the chief accounting officer now owns 307,026 shares in the company, valued at $5,259,355.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Derek Andersen sold 27,152 shares of Snap stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $17.12, for a total value of $464,842.24. Following the completion of the transaction, the chief financial officer now owns 2,228,366 shares of the company’s stock, valued at approximately $38,149,625.92. The disclosure for this sale can be found here. Insiders have sold a total of 426,589 shares of company stock valued at $5,463,043 over the last ninety days.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Morgan Stanley lowered their price target on Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research report on Wednesday, February 7th. Jefferies Financial Group raised Snap from a “hold” rating to a “buy” rating and upped their price target for the company from $12.00 to $16.00 in a research report on Thursday, November 30th. Roth Mkm upped their price target on Snap from $10.00 to $14.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Royal Bank of Canada lowered their price target on Snap from $17.00 to $13.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 7th. Finally, Piper Sandler increased their target price on Snap from $12.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.70.

Check Out Our Latest Report on Snap

Snap Price Performance

NYSE SNAP opened at $11.64 on Tuesday. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 1.55. The business’s fifty day moving average is $16.02 and its 200 day moving average is $12.23. Snap Inc. has a fifty-two week low of $7.86 and a fifty-two week high of $17.90.

About Snap

(Free Report)

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.

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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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