Snap Inc. (NYSE:SNAP) Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich trimmed its position in shares of Snap Inc. (NYSE:SNAP) by 68.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,019 shares of the company’s stock after selling 90,069 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Snap were worth $694,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in SNAP. Allworth Financial LP lifted its stake in Snap by 161.6% during the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after purchasing an additional 1,708 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in shares of Snap in the fourth quarter valued at $73,000. Avantax Advisory Services Inc. acquired a new stake in shares of Snap in the third quarter valued at $91,000. Jacobi Capital Management LLC acquired a new stake in shares of Snap in the third quarter valued at $92,000. Finally, Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Snap by 12.8% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,490 shares of the company’s stock valued at $102,000 after acquiring an additional 1,300 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Snap

In related news, General Counsel Michael J. O’sullivan sold 13,000 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total value of $210,080.00. Following the transaction, the general counsel now owns 461,005 shares in the company, valued at approximately $7,449,840.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Snap news, General Counsel Michael J. O’sullivan sold 13,000 shares of Snap stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total value of $210,080.00. Following the sale, the general counsel now owns 461,005 shares of the company’s stock, valued at approximately $7,449,840.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Evan Spiegel sold 150,000 shares of Snap stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $11.11, for a total value of $1,666,500.00. Following the completion of the sale, the chief executive officer now directly owns 3,627,844 shares in the company, valued at approximately $40,305,346.84. The disclosure for this sale can be found here. Insiders have sold 470,482 shares of company stock worth $5,284,091 in the last quarter. Company insiders own 22.68% of the company’s stock.

Analyst Ratings Changes

SNAP has been the topic of several analyst reports. Canaccord Genuity Group increased their price objective on Snap from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Friday. UBS Group reduced their price objective on Snap from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Royal Bank of Canada increased their price objective on Snap from $13.00 to $16.00 and gave the company a “sector perform” rating in a research note on Friday. Stifel Nicolaus raised their price target on Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Friday. Finally, The Goldman Sachs Group raised their price target on Snap from $13.50 to $16.00 and gave the company a “neutral” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $14.67.

Snap Stock Performance

Shares of SNAP stock opened at $14.55 on Friday. The stock has a market capitalization of $24.02 billion, a PE ratio of -17.96 and a beta of 1.13. Snap Inc. has a 52-week low of $7.86 and a 52-week high of $17.90. The stock’s 50-day moving average price is $11.26 and its 200 day moving average price is $12.86. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.10. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Snap had a negative return on equity of 45.02% and a negative net margin of 26.99%. As a group, equities research analysts forecast that Snap Inc. will post -0.58 EPS for the current year.

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.