Mizuho Markets Americas LLC Cuts Stock Holdings in Snap Inc. (NYSE:SNAP)

Mizuho Markets Americas LLC lowered its stake in Snap Inc. (NYSE:SNAP) by 22.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,252 shares of the company’s stock after selling 16,092 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Snap were worth $623,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SNAP. NBC Securities Inc. grew its holdings in shares of Snap by 2,580.4% in the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after purchasing an additional 1,445 shares in the last quarter. Allworth Financial LP lifted its position in Snap by 161.6% during the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after purchasing an additional 1,708 shares during the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of Snap in the 4th quarter worth $51,000. Rakuten Securities Inc. bought a new stake in shares of Snap in the 4th quarter worth about $73,000. Finally, Westpac Banking Corp raised its position in shares of Snap by 108.7% during the 4th quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock valued at $81,000 after buying an additional 2,506 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

Insider Activity

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $14.27, for a total transaction of $14,270,000.00. Following the completion of the sale, the chief technology officer now directly owns 59,894,865 shares in the company, valued at approximately $854,699,723.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $14.27, for a total value of $14,270,000.00. Following the transaction, the chief technology officer now owns 59,894,865 shares of the company’s stock, valued at approximately $854,699,723.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Rebecca Morrow sold 8,913 shares of the stock in a transaction that occurred on 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 approximately $7,696,351.13. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,373,343 shares of company stock worth $19,949,967. 22.68% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SNAP has been the subject of several recent research reports. Susquehanna lifted their price target on Snap from $12.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th. TD Cowen increased their price target on Snap from $11.00 to $14.00 and gave the company a “hold” rating in a report on Friday, April 26th. The Goldman Sachs Group lifted their price objective on shares of Snap from $13.50 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. HSBC raised shares of Snap from a “reduce” rating to a “buy” rating in a research note on Friday, April 26th. Finally, Wells Fargo & Company lifted their price target on shares of Snap from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $14.77.

Snap Stock Down 1.2 %

Shares of SNAP stock traded down $0.17 on Friday, hitting $14.40. The stock had a trading volume of 12,221,198 shares, compared to its average volume of 17,180,676. Snap Inc. has a one year low of $8.28 and a one year high of $17.90. The business has a 50 day moving average price of $15.75 and a 200 day moving average price of $14.08. The company has a debt-to-equity ratio of 1.55, a quick ratio of 3.76 and a current ratio of 3.76.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.12 billion. On average, research analysts predict that Snap Inc. will post -0.44 EPS for the current fiscal year.

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.