Hsbc Holdings PLC Has $19.48 Million Stock Holdings in Snap Inc. $SNAP

Hsbc Holdings PLC trimmed its stake in shares of Snap Inc. (NYSE:SNAP) by 18.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,409,596 shares of the company’s stock after selling 554,903 shares during the period. Hsbc Holdings PLC’s holdings in Snap were worth $19,477,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Allworth Financial LP increased its stake in Snap by 92.3% in the 3rd quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock worth $25,000 after purchasing an additional 1,581 shares in the last quarter. Arax Advisory Partners lifted its stake in Snap by 220.0% during the fourth quarter. Arax Advisory Partners now owns 3,309 shares of the company’s stock valued at $27,000 after buying an additional 2,275 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Snap during the fourth quarter valued at about $29,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Snap by 561.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock worth $29,000 after buying an additional 3,071 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Snap in the third quarter worth about $39,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Price Performance

Shares of SNAP opened at $4.54 on Thursday. The company has a market capitalization of $7.67 billion, a price-to-earnings ratio of -18.92 and a beta of 1.03. Snap Inc. has a fifty-two week low of $3.81 and a fifty-two week high of $10.41. The company has a debt-to-equity ratio of 1.67, a current ratio of 3.53 and a quick ratio of 3.53. The business’s 50-day moving average is $5.61 and its 200-day moving average is $5.99.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.14). Snap had a negative return on equity of 18.92% and a negative net margin of 6.72%.The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the business posted ($0.08) earnings per share. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. Equities research analysts expect that Snap Inc. will post -0.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Snap news, insider Ajit Mohan sold 6,923 shares of Snap stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $5.58, for a total transaction of $38,630.34. Following the completion of the sale, the insider owned 5,050,968 shares of the company’s stock, valued at $28,184,401.44. This trade represents a 0.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Zachary M. Briers sold 11,958 shares of Snap stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $6.00, for a total transaction of $71,748.00. Following the sale, the general counsel directly owned 2,560,835 shares of the company’s stock, valued at $15,365,010. This trade represents a 0.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 2,907,554 shares of company stock worth $16,093,619. Insiders own 22.68% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Snap from $7.00 to $6.00 and set an “underweight” rating on the stock in a research report on Thursday, May 7th. Rothschild & Co Redburn raised shares of Snap from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Monday, April 27th. Tigress Financial assumed coverage on shares of Snap in a research note on Monday, April 27th. They issued a “buy” rating for the company. Canaccord Genuity Group lowered their price objective on shares of Snap from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Tuesday, April 14th. Finally, BNP Paribas Exane downgraded shares of Snap to a “neutral” rating in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twenty-three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Snap has an average rating of “Hold” and a consensus target price of $7.79.

Snap Profile

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.