SBI Securities Co. Ltd. Acquires New Position in Snap Inc. (NYSE:SNAP)

SBI Securities Co. Ltd. acquired a new stake in shares of Snap Inc. (NYSE:SNAP) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 30,684 shares of the company’s stock, valued at approximately $330,000.

A number of other institutional investors have also modified their holdings of SNAP. International Assets Investment Management LLC grew its position in shares of Snap by 3,391.5% during the 3rd quarter. International Assets Investment Management LLC now owns 24,685 shares of the company’s stock valued at $264,000 after buying an additional 23,978 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Snap by 20.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,323 shares of the company’s stock valued at $153,000 after buying an additional 2,395 shares during the last quarter. Van ECK Associates Corp grew its position in Snap by 150.1% in the 3rd quarter. Van ECK Associates Corp now owns 73,295 shares of the company’s stock worth $744,000 after purchasing an additional 43,994 shares during the last quarter. Forum Financial Management LP grew its position in Snap by 49.2% in the 3rd quarter. Forum Financial Management LP now owns 17,556 shares of the company’s stock worth $188,000 after purchasing an additional 5,793 shares during the last quarter. Finally, Concurrent Investment Advisors LLC increased its stake in shares of Snap by 8.3% in the third quarter. Concurrent Investment Advisors LLC now owns 29,227 shares of the company’s stock valued at $313,000 after purchasing an additional 2,229 shares during the period. Institutional investors own 47.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wells Fargo & Company lowered shares of Snap from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $15.00 to $11.00 in a research note on Wednesday, February 5th. Bank of America raised their price target on shares of Snap from $14.00 to $14.50 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. dropped their price target on shares of Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 5th. Citizens Jmp lowered shares of Snap from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Susquehanna raised their price target on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $36.87.

Insider Buying and Selling

In related news, SVP Eric Young sold 102,152 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $1,107,327.68. Following the completion of the transaction, the senior vice president now owns 3,443,419 shares of the company’s stock, valued at approximately $37,326,661.96. This trade represents a 2.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Rebecca Morrow sold 32,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $12.42, for a total transaction of $397,440.00. Following the completion of the transaction, the chief accounting officer now directly owns 433,064 shares of the company’s stock, valued at $5,378,654.88. This represents a 6.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 481,471 shares of company stock valued at $5,394,906. Company insiders own 22.68% of the company’s stock.

Snap Trading Up 2.1 %

Shares of NYSE:SNAP opened at $9.81 on Thursday. The stock has a market capitalization of $16.63 billion, a price-to-earnings ratio of -23.34 and a beta of 0.92. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.33. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The company has a 50 day moving average price of $11.03 and a 200 day moving average price of $10.82.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. On average, research analysts anticipate that Snap Inc. will post -0.3 EPS for the current fiscal year.

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.