Snap Inc. (NYSE:SNAP) Shares Acquired by Axa S.A.

Axa S.A. lifted its stake in Snap Inc. (NYSE:SNAP) by 2.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 60,706 shares of the company’s stock after acquiring an additional 1,727 shares during the quarter. Axa S.A.’s holdings in Snap were worth $654,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Checchi Capital Advisers LLC lifted its stake in Snap by 3.0% during the fourth quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company’s stock worth $335,000 after purchasing an additional 901 shares in the last quarter. HCR Wealth Advisors boosted its holdings in Snap by 3.9% during the 4th quarter. HCR Wealth Advisors now owns 25,016 shares of the company’s stock valued at $269,000 after acquiring an additional 934 shares during the period. The Manufacturers Life Insurance Company grew its position in Snap by 1.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 61,365 shares of the company’s stock valued at $661,000 after acquiring an additional 1,033 shares in the last quarter. Empowered Funds LLC grew its position in Snap by 3.1% in the 4th quarter. Empowered Funds LLC now owns 35,639 shares of the company’s stock valued at $384,000 after acquiring an additional 1,055 shares in the last quarter. Finally, Trajan Wealth LLC increased its stake in Snap by 5.9% during the fourth quarter. Trajan Wealth LLC now owns 20,191 shares of the company’s stock worth $217,000 after purchasing an additional 1,132 shares during the period. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Snap Stock Performance

Shares of Snap stock opened at $8.25 on Friday. The firm’s fifty day simple moving average is $8.53 and its 200-day simple moving average is $10.32. Snap Inc. has a 12 month low of $7.08 and a 12 month high of $17.33. The stock has a market capitalization of $13.99 billion, a price-to-earnings ratio of -19.64 and a beta of 0.61. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95.

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

Insiders Place Their Bets

In other news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated 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 sale, the chief technology officer now owns 55,818,548 shares of the company’s stock, valued at $504,599,673.92. The trade was a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eric Young sold 102,152 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $1,107,327.68. Following the transaction, the senior vice president now directly owns 3,443,419 shares of the company’s stock, valued at $37,326,661.96. This represents a 2.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,362,523 shares of company stock valued at $20,719,017. 22.68% of the stock is owned by company insiders.

Analyst Ratings Changes

SNAP has been the subject of several recent research reports. Guggenheim reissued a “neutral” rating on shares of Snap in a research note on Wednesday, April 2nd. B. Riley dropped their price target on shares of Snap from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. Bank of America reduced their price objective 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. lowered their target price on Snap from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Tuesday, April 8th. Finally, JMP Securities set a $12.00 price target on Snap in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $35.50.

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.