Illinois Municipal Retirement Fund Has $3.76 Million Stake in Snap Inc. (NYSE:SNAP)

Illinois Municipal Retirement Fund lowered its position in Snap Inc. (NYSE:SNAP) by 44.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 349,011 shares of the company’s stock after selling 276,635 shares during the period. Illinois Municipal Retirement Fund’s holdings in Snap were worth $3,759,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HCR Wealth Advisors grew its position in Snap by 3.9% in the fourth quarter. HCR Wealth Advisors now owns 25,016 shares of the company’s stock worth $269,000 after acquiring an additional 934 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of 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 purchasing an additional 1,055 shares during the last quarter. Metis Global Partners LLC boosted its holdings in Snap by 6.9% in the third quarter. Metis Global Partners LLC now owns 19,352 shares of the company’s stock worth $207,000 after purchasing an additional 1,255 shares in the last quarter. Gradient Investments LLC increased its position in Snap by 0.9% during the fourth quarter. Gradient Investments LLC now owns 142,144 shares of the company’s stock worth $1,531,000 after buying an additional 1,310 shares during the last quarter. Finally, Intech Investment Management LLC raised its holdings in Snap by 1.9% during the third quarter. Intech Investment Management LLC now owns 77,592 shares of the company’s stock valued at $830,000 after buying an additional 1,433 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

Snap Stock Down 2.5 %

SNAP opened at $10.15 on Thursday. The firm has a market cap of $17.21 billion, a price-to-earnings ratio of -24.15 and a beta of 0.99. 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 firm’s 50-day simple moving average is $11.14 and its 200-day simple moving average is $10.79. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.33.

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SNAP shares. Barclays reiterated an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. Piper Sandler reaffirmed a “neutral” rating and set a $13.00 target price (up previously from $12.00) on shares of Snap in a research report on Wednesday, October 30th. The Goldman Sachs Group lifted their price target on shares of Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Bank of America upped their price objective on shares of Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Finally, Citizens Jmp downgraded shares of Snap from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $36.87.

Insider Activity at Snap

In other Snap news, SVP Eric Young sold 102,152 shares of the company’s stock in a transaction on 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 owns 3,443,419 shares of the company’s stock, valued at approximately $37,326,661.96. This represents a 2.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Rebecca Morrow sold 32,000 shares of Snap stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $12.42, for a total value of $397,440.00. Following the completion of the sale, the chief accounting officer now directly owns 433,064 shares of the company’s stock, valued at $5,378,654.88. This trade represents a 6.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 499,471 shares of company stock valued at $5,608,926 in the last three months. Corporate insiders own 22.68% of the company’s stock.

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.