Tobam Has $696,000 Holdings in Snap Inc. (NYSE:SNAP)

Tobam trimmed its stake in Snap Inc. (NYSE:SNAP) by 74.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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.

Other large investors have also bought and sold shares of the company. TB Alternative Assets Ltd. increased its stake in shares of Snap by 105.6% in the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after buying an additional 4,098,847 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Snap by 62.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after acquiring an additional 2,386,519 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Snap by 49.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock valued at $41,842,000 after purchasing an additional 1,297,348 shares during the period. Groupama Asset Managment bought a new position in Snap during the 3rd quarter worth approximately $13,032,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Snap by 51.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company’s stock worth $33,244,000 after purchasing an additional 1,050,501 shares during the period. 47.52% of the stock is owned by institutional investors.

Snap Price Performance

Shares of NYSE SNAP opened at $10.68 on Friday. The company has a market capitalization of $17.90 billion, a PE ratio of -18.40 and a beta of 0.99. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The stock’s 50 day moving average price is $11.51 and its 200-day moving average price is $10.89. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.33.

Snap (NYSE:SNAP) last posted 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 35.60% and a negative net margin of 18.49%. On average, equities analysts anticipate that Snap Inc. will post -0.39 EPS for the current year.

Analyst Upgrades and Downgrades

SNAP has been the subject of several recent analyst reports. Citigroup increased their price objective on shares of Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday. Barclays reiterated an “overweight” rating on shares of Snap in a report on Wednesday. JPMorgan Chase & Co. dropped their price objective on Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Wednesday. Truist Financial raised their target price on Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald boosted their price target on Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $36.87.

Insider Activity at Snap

In other news, CAO Rebecca Morrow sold 11,154 shares of the company’s 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 owns 465,064 shares of the company’s stock, valued at $4,906,425.20. This represents a 2.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $11.49, for a total value of $206,820.00. Following the completion of the sale, the general counsel now directly owns 480,498 shares of the company’s stock, valued at approximately $5,520,922.02. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 445,184 shares of company stock worth $4,968,189.

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.