MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 29,791 Shares of Snap Inc. (NYSE:SNAP)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. decreased its position in shares of Snap Inc. (NYSE:SNAP) by 2.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,216,809 shares of the company’s stock after selling 29,791 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.07% of Snap worth $13,106,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in Snap by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company’s stock worth $71,095,000 after purchasing an additional 389,812 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Snap during the 4th quarter valued at $289,000. Bank of New York Mellon Corp boosted its holdings in shares of Snap by 2.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,538,111 shares of the company’s stock valued at $16,565,000 after buying an additional 29,526 shares in the last quarter. Empowered Funds LLC grew its position in shares of Snap by 3.1% in the 4th quarter. Empowered Funds LLC now owns 35,639 shares of the company’s stock worth $384,000 after buying an additional 1,055 shares during the period. Finally, Sei Investments Co. bought a new position in shares of Snap in the 4th quarter worth about $158,000. Institutional investors own 47.52% of the company’s stock.

Snap Trading Down 4.7%

NYSE:SNAP opened at $8.61 on Friday. The company has a market cap of $14.39 billion, a PE ratio of -20.50 and a beta of 0.61. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. The company has a 50 day simple moving average of $8.48 and a two-hundred day simple moving average of $10.28. Snap Inc. has a 12 month low of $7.08 and a 12 month high of $17.33.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.12). The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. The business’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 EPS. Research analysts forecast that Snap Inc. will post -0.3 earnings per share for the current year.

Analyst Ratings Changes

SNAP has been the topic of several research reports. JMP Securities set a $12.00 price objective on shares of Snap in a research note on Friday, April 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $12.00 target price on shares of Snap in a report on Wednesday, April 30th. Bank of America cut their price target on Snap from $14.50 to $10.50 and set a “neutral” rating on the stock in a research note on Wednesday, April 9th. JPMorgan Chase & Co. reduced their price objective on Snap from $10.00 to $8.00 and set an “underweight” rating for the company in a research report on Tuesday, April 8th. Finally, Susquehanna dropped their target price on Snap from $13.00 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, twenty-three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Snap has an average rating of “Hold” and an average target price of $35.50.

Insider Buying and Selling at Snap

In related news, CAO Rebecca Morrow sold 8,837 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $95,793.08. Following the transaction, the chief accounting officer now directly owns 429,892 shares of the company’s stock, valued at approximately $4,660,029.28. This trade represents a 2.01% 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, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $9.04, for a total value of $9,040,000.00. Following the transaction, the chief technology officer now owns 55,818,548 shares in the company, valued at $504,599,673.92. This trade represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,362,523 shares of company stock worth $20,719,017 in the last three months. 22.68% of the stock is currently owned by company insiders.

Snap Company 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.