Tobam Sells 188,031 Shares of Snap Inc. (NYSE:SNAP)

Tobam lessened its position in shares of Snap Inc. (NYSE:SNAP) by 74.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 64,651 shares of the company’s stock after selling 188,031 shares during the period. Tobam’s holdings in Snap were worth $696,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SNAP. V Square Quantitative Management LLC purchased a new position in shares of Snap during the third quarter worth about $29,000. Paladin Wealth LLC bought a new stake in Snap during the third quarter valued at approximately $30,000. Advisors Asset Management Inc. grew its stake in Snap by 141.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after buying an additional 1,632 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Snap in the 3rd quarter worth $41,000. Finally, Blue Trust Inc. raised its position in shares of Snap by 136.3% during the 4th quarter. Blue Trust Inc. now owns 4,529 shares of the company’s stock valued at $48,000 after buying an additional 2,612 shares in the last quarter. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Snap

In related news, CAO Rebecca Morrow sold 11,154 shares of Snap stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.55, for a total transaction of $117,674.70. Following the transaction, the chief accounting officer now directly owns 465,064 shares in the company, valued at approximately $4,906,425.20. The trade was a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Eric Young sold 112,020 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.55, for a total transaction of $1,181,811.00. Following the completion of the sale, the senior vice president now directly owns 2,791,048 shares of the company’s stock, valued at $29,445,556.40. This represents a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 445,184 shares of company stock worth $4,968,189 over the last quarter.

Snap Stock Performance

Shares of SNAP opened at $10.68 on Friday. The company has a market cap of $17.90 billion, a price-to-earnings ratio of -18.40 and a beta of 0.99. The business’s fifty day simple moving average is $11.51 and its two-hundred day simple moving average is $10.89. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.33. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. Research analysts anticipate that Snap Inc. will post -0.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SNAP has been the subject of several research reports. BMO Capital Markets reiterated an “outperform” rating and issued a $16.00 target price (down from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Stifel Nicolaus cut their price objective on Snap from $13.00 to $11.00 and set a “hold” rating for the company in a report on Monday, October 14th. Piper Sandler reissued a “neutral” rating and set a $13.00 price objective (up from $12.00) on shares of Snap in a report on Wednesday, October 30th. UBS Group upped their target price on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company cut shares of Snap from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $15.00 to $11.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Snap currently has a consensus rating of “Hold” and a consensus price target of $36.87.

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.