KBC Group NV Trims Stock Holdings in Snap Inc. (NYSE:SNAP)

KBC Group NV lessened its stake in shares of Snap Inc. (NYSE:SNAP) by 46.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,781 shares of the company’s stock after selling 122,999 shares during the quarter. KBC Group NV’s holdings in Snap were worth $1,496,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in SNAP. V Square Quantitative Management LLC purchased a new position in shares of Snap during the 3rd quarter worth $29,000. Paladin Wealth LLC purchased a new position in Snap during the third quarter worth about $30,000. Hollencrest Capital Management acquired a new stake in Snap in the 2nd quarter worth about $33,000. Blue Trust Inc. grew its holdings in Snap by 354.1% in the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after buying an additional 1,682 shares during the period. Finally, Rothschild Investment LLC acquired a new position in shares of Snap during the 2nd quarter valued at about $40,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Stock Down 0.5 %

Snap stock opened at $10.55 on Tuesday. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.90. The stock has a market cap of $17.69 billion, a price-to-earnings ratio of -18.19 and a beta of 0.99. The company’s 50-day moving average price is $10.68 and its two-hundred day moving average price is $12.65. 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 posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.21) earnings per share. On average, analysts expect that Snap Inc. will post -0.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on SNAP. The Goldman Sachs Group boosted their target price on shares of Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. cut their target price on Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. Bank of America boosted their price target on Snap from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Citigroup cut their price objective on Snap from $16.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Finally, JMP Securities decreased their target price on Snap from $17.00 to $16.00 and set a “market outperform” rating for the company in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $14.31.

Insider Transactions at Snap

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $12.50, for a total transaction of $12,500,000.00. Following the completion of the sale, the chief technology officer now directly owns 57,210,989 shares in the company, valued at approximately $715,137,362.50. This trade represents a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $12.31, for a total transaction of $221,580.00. Following the completion of the transaction, the general counsel now owns 471,058 shares in the company, valued at approximately $5,798,723.98. This trade represents a 3.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,221,220 shares of company stock valued at $14,659,201. 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.