Snap Inc. (NYSE:SNAP) Shares Bought by Swedbank AB

Swedbank AB grew its holdings in Snap Inc. (NYSE:SNAP) by 9.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 167,431 shares of the company’s stock after buying an additional 14,868 shares during the period. Swedbank AB’s holdings in Snap were worth $1,803,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in Snap during the third quarter worth about $29,000. Paladin Wealth LLC acquired a new position in Snap during the 3rd quarter worth approximately $30,000. Advisors Asset Management Inc. increased its position in Snap by 141.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after purchasing an additional 1,632 shares during the period. Brooklyn Investment Group purchased a new position in shares of Snap during the 3rd quarter worth approximately $41,000. Finally, Blue Trust Inc. lifted its holdings in shares of Snap by 136.3% in the 4th quarter. Blue Trust Inc. now owns 4,529 shares of the company’s stock valued at $48,000 after buying an additional 2,612 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

Insider Activity at Snap

In other news, CFO Derek Andersen sold 17,789 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $12.00, for a total transaction of $213,468.00. Following the completion of the sale, the chief financial officer now owns 2,176,017 shares in the company, valued at approximately $26,112,204. The trade was a 0.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $10.84, for a total transaction of $195,120.00. Following the completion of the transaction, the general counsel now owns 498,498 shares in the company, valued at $5,403,718.32. The trade was a 3.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 427,184 shares of company stock worth $4,761,369. 22.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

SNAP has been the subject of several research analyst reports. B. Riley increased their price objective on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Citigroup raised their price objective on shares of Snap from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, November 29th. Royal Bank of Canada reissued a “sector perform” rating and set a $16.00 price objective on shares of Snap in a report on Wednesday, October 30th. Loop Capital increased their target price on shares of Snap from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Evercore ISI boosted their price target on Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $36.99.

Snap Stock Performance

NYSE SNAP opened at $11.31 on Monday. The business’s 50-day moving average price is $11.53 and its 200 day moving average price is $10.93. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.50. The company has a market capitalization of $18.96 billion, a PE ratio of -19.49 and a beta of 0.98.

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.