Morgan Stanley Has $209.64 Million Holdings in Snap Inc (SNAP)
Morgan Stanley raised its holdings in Snap Inc (NYSE:SNAP) by 15.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,014,841 shares of the company’s stock after purchasing an additional 2,123,727 shares during the quarter. Morgan Stanley’s holdings in Snap were worth $209,635,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in SNAP. Oppenheimer & Co. Inc. acquired a new stake in shares of Snap during the 1st quarter valued at approximately $211,000. SG Americas Securities LLC lifted its position in shares of Snap by 262.9% during the 1st quarter. SG Americas Securities LLC now owns 28,684 shares of the company’s stock valued at $455,000 after acquiring an additional 20,780 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Snap by 18.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 810,211 shares of the company’s stock valued at $12,859,000 after acquiring an additional 128,159 shares during the period. Neuberger Berman Group LLC acquired a new stake in shares of Snap during the 1st quarter valued at approximately $932,000. Finally, Bamco Inc. NY lifted its position in shares of Snap by 225.0% during the 1st quarter. Bamco Inc. NY now owns 189,217 shares of the company’s stock valued at $3,003,000 after acquiring an additional 131,000 shares during the period. 22.29% of the stock is currently owned by institutional investors.
In other news, Director Mitchell Lasky sold 25,000 shares of the business’s stock in a transaction on Tuesday, June 19th. The shares were sold at an average price of $13.08, for a total transaction of $327,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Evan Spiegel sold 1,520,640 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $10.57, for a total transaction of $16,073,164.80. Following the sale, the chief executive officer now directly owns 81,400,642 shares of the company’s stock, valued at $860,404,785.94. The disclosure for this sale can be found here. Insiders sold a total of 3,375,218 shares of company stock valued at $38,429,235 over the last quarter.
Shares of SNAP opened at $9.29 on Friday. Snap Inc has a fifty-two week low of $8.90 and a fifty-two week high of $21.22.
Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, August 7th. The company reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.18. The company had revenue of $262.26 million during the quarter, compared to the consensus estimate of $247.24 million. Snap had a negative return on equity of 49.79% and a negative net margin of 155.31%. equities research analysts predict that Snap Inc will post -1.07 EPS for the current fiscal year.
Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows to creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps to surface the most interesting stories from publishers, creators, and the community, based on a user's subscriptions and interests.
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