Edmond DE Rothschild Holding S.A. Increases Stock Position in Snap Inc. (NYSE:SNAP)

Edmond DE Rothschild Holding S.A. grew its position in shares of Snap Inc. (NYSE:SNAPGet Rating) by 50.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,888 shares of the company’s stock after purchasing an additional 5,667 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Snap were worth $795,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Sawtooth Solutions LLC raised its stake in Snap by 4.1% during the third quarter. Sawtooth Solutions LLC now owns 4,793 shares of the company’s stock valued at $354,000 after purchasing an additional 187 shares in the last quarter. Orion Portfolio Solutions LLC raised its position in shares of Snap by 7.0% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 3,292 shares of the company’s stock valued at $243,000 after buying an additional 216 shares in the last quarter. B. Riley Wealth Management Inc. lifted its holdings in shares of Snap by 2.1% in the 3rd quarter. B. Riley Wealth Management Inc. now owns 11,051 shares of the company’s stock valued at $816,000 after acquiring an additional 224 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Snap by 0.7% in the third quarter. The Manufacturers Life Insurance Company now owns 31,308 shares of the company’s stock worth $2,313,000 after acquiring an additional 227 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in Snap by 80.7% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 618 shares of the company’s stock valued at $46,000 after purchasing an additional 276 shares during the period. 53.88% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CAO Rebecca Morrow sold 8,405 shares of Snap stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $32.25, for a total value of $271,061.25. Following the completion of the transaction, the chief accounting officer now owns 229,383 shares in the company, valued at approximately $7,397,601.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Derek Andersen sold 8,185 shares of the stock in a transaction that occurred on Tuesday, February 15th. The stock was sold at an average price of $40.28, for a total value of $329,691.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,445,449 shares of company stock worth $44,639,703.

Several equities analysts have recently weighed in on the company. Susquehanna Bancshares cut their target price on Snap from $42.00 to $34.00 and set a “neutral” rating on the stock in a research report on Friday, April 22nd. The Goldman Sachs Group reissued a “buy” rating and issued a $65.00 target price on shares of Snap in a research note on Friday, February 4th. Oppenheimer dropped their price target on shares of Snap from $75.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, February 4th. JMP Securities decreased their price objective on shares of Snap from $65.00 to $50.00 and set a “market outperform” rating for the company in a research note on Friday, April 22nd. Finally, Truist Financial reduced their price target on Snap from $75.00 to $65.00 in a report on Wednesday, January 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $52.29.

Shares of Snap stock opened at $23.39 on Tuesday. The firm’s 50 day simple moving average is $32.83 and its two-hundred day simple moving average is $40.35. The firm has a market capitalization of $38.27 billion, a price-to-earnings ratio of -64.97 and a beta of 1.18. Snap Inc. has a 12-month low of $23.18 and a 12-month high of $83.34. The company has a current ratio of 7.19, a quick ratio of 7.19 and a debt-to-equity ratio of 1.05.

Snap (NYSE:SNAPGet Rating) last released its earnings results on Thursday, April 21st. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.03). The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.07 billion. Snap had a negative net margin of 12.71% and a negative return on equity of 16.37%. Snap’s revenue was up 38.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.19) earnings per share. On average, sell-side analysts predict that Snap Inc. will post -0.43 EPS for the current fiscal year.

Snap Company Profile (Get Rating)

Snap Inc operates as a camera company in North America, Europe, and internationally. The company offers Snapchat, a camera application with various functionalities, such as Camera, Communication, 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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