Swedbank AB Buys New Position in Snap Inc. (NYSE:SNAP)

Swedbank AB purchased a new position in Snap Inc. (NYSE:SNAP) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 686,163 shares of the company’s stock, valued at approximately $7,877,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in shares of Snap during the first quarter valued at approximately $236,000. Rokos Capital Management LLP purchased a new position in shares of Snap during the first quarter valued at approximately $4,797,000. California State Teachers Retirement System boosted its position in shares of Snap by 7.3% during the first quarter. California State Teachers Retirement System now owns 1,534,341 shares of the company’s stock valued at $17,614,000 after buying an additional 103,755 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Snap by 14.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,671,193 shares of the company’s stock worth $19,185,000 after acquiring an additional 208,046 shares during the period. Finally, Kodai Capital Management LP lifted its holdings in Snap by 125.6% during the first quarter. Kodai Capital Management LP now owns 1,261,980 shares of the company’s stock worth $14,488,000 after acquiring an additional 702,698 shares during the period. Institutional investors own 47.52% of the company’s stock.

Snap Trading Down 26.9 %

SNAP traded down $3.45 during midday trading on Friday, reaching $9.36. 124,970,577 shares of the company’s stock traded hands, compared to its average volume of 21,240,702. The firm has a fifty day moving average of $15.21 and a two-hundred day moving average of $13.86. The stock has a market capitalization of $15.36 billion, a price-to-earnings ratio of -11.55 and a beta of 1.03. 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 52 week low of $8.28 and a 52 week high of $17.90.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SNAP. Evercore ISI lifted their price target on Snap from $13.00 to $14.00 and gave the stock an “in-line” rating in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft dropped their price target on Snap from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Friday. Wells Fargo & Company lifted their price target on Snap from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. JPMorgan Chase & Co. lowered their target price on Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research note on Friday. Finally, Stifel Nicolaus boosted their target price on Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $14.23.

Insider Buying and Selling at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $13.28, for a total transaction of $239,040.00. Following the completion of the transaction, the general counsel now owns 463,908 shares of the company’s stock, valued at approximately $6,160,698.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Rebecca Morrow sold 8,913 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $15.91, for a total value of $141,805.83. Following the sale, the chief accounting officer now owns 483,743 shares in the company, valued at approximately $7,696,351.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $13.28, for a total value of $239,040.00. Following the completion of the sale, the general counsel now owns 463,908 shares in the company, valued at approximately $6,160,698.24. The disclosure for this sale can be found here. Insiders sold 225,078 shares of company stock valued at $3,518,129 in the last 90 days. Insiders own 22.68% of the company’s stock.

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.