UBS Asset Management Americas Inc. Buys 19,250 Shares of Snap Inc. (NYSE:SNAP)


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UBS Asset Management Americas Inc. raised its stake in shares of Snap Inc. (NYSE:SNAP) by 0.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,294,936 shares of the company’s stock after purchasing an additional 19,250 shares during the period. UBS Asset Management Americas Inc.’s holdings in Snap were worth $114,907,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of SNAP. Riggs Asset Managment Co. Inc. bought a new position in shares of Snap in the fourth quarter worth about $25,000. Joseph P. Lucia & Associates LLC purchased a new stake in Snap in the 4th quarter worth approximately $31,000. Arlington Partners LLC raised its stake in Snap by 43.8% during the 4th quarter. Arlington Partners LLC now owns 719 shares of the company’s stock worth $36,000 after acquiring an additional 219 shares during the period. Oder Investment Management LLC purchased a new position in Snap during the fourth quarter valued at approximately $41,000. Finally, Annapolis Financial Services LLC purchased a new position in Snap during the fourth quarter valued at approximately $75,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Several research analysts recently weighed in on the stock. Truist upped their target price on shares of Snap from $61.00 to $84.00 in a report on Wednesday, February 24th. Argus upped their price objective on Snap from $50.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, February 9th. Morgan Stanley decreased their target price on Snap from $85.00 to $74.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 30th. Cowen upped their price target on Snap from $70.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 24th. Finally, Rosenblatt Securities lifted their price objective on shares of Snap from $70.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, March 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-nine have issued a buy rating to the company’s stock. Snap presently has a consensus rating of “Buy” and a consensus price target of $66.29.

In related news, Director Joanna Coles sold 2,438 shares of the business’s stock in a transaction on Monday, February 8th. The stock was sold at an average price of $63.39, for a total transaction of $154,544.82. Following the completion of the transaction, the director now owns 52,122 shares in the company, valued at approximately $3,304,013.58. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 6,000 shares of the company’s stock in a transaction on Wednesday, March 31st. The shares were sold at an average price of $52.11, for a total value of $312,660.00. Following the completion of the transaction, the general counsel now directly owns 1,110,915 shares in the company, valued at approximately $57,889,780.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 262,663 shares of company stock worth $14,993,745.

NYSE SNAP opened at $60.23 on Thursday. The company has a quick ratio of 5.43, a current ratio of 5.43 and a debt-to-equity ratio of 0.75. Snap Inc. has a 52 week low of $12.44 and a 52 week high of $73.59. The firm has a market capitalization of $90.85 billion, a price-to-earnings ratio of -80.31 and a beta of 1.29. The company has a fifty day moving average of $59.11 and a two-hundred day moving average of $48.31.

Snap (NYSE:SNAP) last released its earnings results on Thursday, February 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.07). The firm had revenue of $911.32 million during the quarter, compared to analyst estimates of $847.44 million. Snap had a negative net margin of 49.74% and a negative return on equity of 48.53%. Equities research analysts anticipate that Snap Inc. will post -0.64 EPS for the current year.

About Snap

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application with functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate through short videos and images. It also provides Spectacles, an eyewear product that connects with Snapchat and captures video from a human perspective; and advertising products, including AR and Snap ads.

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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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