Snap Inc. (NYSE:SNAP) Stock Position Decreased by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. cut its stake in shares of Snap Inc. (NYSE:SNAP) by 4.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,820 shares of the company’s stock after selling 1,285 shares during the period. Salem Investment Counselors Inc.’s holdings in Snap were worth $285,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Snap by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock valued at $1,613,729,000 after buying an additional 3,503,230 shares in the last quarter. SRS Investment Management LLC grew its holdings in shares of 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 purchasing an additional 12,452,415 shares during the last quarter. Capital World Investors raised its stake in shares of Snap by 0.6% in the fourth quarter. Capital World Investors now owns 45,887,082 shares of the company’s stock valued at $776,868,000 after acquiring an additional 274,176 shares during the last quarter. Carmignac Gestion bought a new stake in Snap during the 4th quarter worth about $110,103,000. Finally, Contrarius Investment Management Ltd bought a new position in Snap in the 4th quarter valued at $80,644,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Snap

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $11.53, for a total transaction of $207,540.00. Following the completion of the sale, the general counsel now owns 474,812 shares in the company, valued at $5,474,582.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Snap news, CAO Rebecca Morrow sold 8,913 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $15.91, for a total transaction of $141,805.83. Following the sale, the chief accounting officer now directly owns 483,743 shares of the company’s stock, valued at $7,696,351.13. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $11.53, for a total transaction of $207,540.00. Following the completion of the transaction, the general counsel now owns 474,812 shares of the company’s stock, valued at $5,474,582.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,372,583 shares of company stock valued at $19,843,735. 22.68% of the stock is owned by corporate insiders.

Snap Price Performance

SNAP stock traded up $0.12 during midday trading on Friday, hitting $15.51. The stock had a trading volume of 27,673,879 shares, compared to its average volume of 15,139,699. The company has a debt-to-equity ratio of 1.55, a current ratio of 3.76 and a quick ratio of 3.76. Snap Inc. has a 1-year low of $8.28 and a 1-year high of $17.90. The business has a fifty day moving average price of $14.83 and a two-hundred day moving average price of $14.14.

Snap (NYSE:SNAP) last released its quarterly earnings data 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. Snap had a negative net margin of 26.99% and a negative return on equity of 46.62%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Equities research analysts expect that Snap Inc. will post -0.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SNAP has been the topic of several recent analyst reports. Barclays lifted their price objective 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. Royal Bank of Canada raised their target price on shares of Snap from $13.00 to $16.00 and gave the company a “sector perform” rating in a research note on Friday, April 26th. Susquehanna upped their price target on shares of Snap from $12.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. Rosenblatt Securities boosted their price objective on shares of Snap from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Finally, Roth Mkm reiterated a “neutral” rating and set a $14.00 price objective on shares of Snap in a research note on Tuesday, April 23rd. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Snap currently has a consensus rating of “Hold” and an average price target of $14.82.

Snap 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.