Snap Inc. (NYSE:SNAP) Shares Sold by Mizuho Markets Americas LLC

Mizuho Markets Americas LLC lowered its stake in shares of Snap Inc. (NYSE:SNAP) by 16.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,752 shares of the company’s stock after selling 12,000 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Snap were worth $639,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in SNAP. GraniteShares Advisors LLC raised its stake in shares of Snap by 2.5% in the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock valued at $634,000 after purchasing an additional 941 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in Snap by 4.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock worth $448,000 after buying an additional 1,048 shares during the last quarter. Metis Global Partners LLC grew its position in shares of Snap by 6.9% in the 3rd quarter. Metis Global Partners LLC now owns 19,352 shares of the company’s stock worth $207,000 after acquiring an additional 1,255 shares in the last quarter. DMC Group LLC increased its holdings in shares of Snap by 10.5% in the 2nd quarter. DMC Group LLC now owns 15,583 shares of the company’s stock valued at $259,000 after acquiring an additional 1,477 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Snap by 354.1% during the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after acquiring an additional 1,682 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

Snap Price Performance

Shares of Snap stock opened at $10.60 on Friday. The stock has a 50-day simple moving average of $10.68 and a 200-day simple moving average of $12.67. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.90. 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 announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the business posted ($0.21) EPS. Snap’s quarterly revenue was up 15.4% on a year-over-year basis. On average, research analysts anticipate that Snap Inc. will post -0.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SNAP shares. Evercore ISI increased their target price on shares of Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. JMP Securities reduced their price objective on Snap from $17.00 to $16.00 and set a “market outperform” rating for the company in a research report on Wednesday, October 30th. Wells Fargo & Company dropped their target price on Snap from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. Cantor Fitzgerald upped their price target on shares of Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $13.00 price objective (up from $12.00) on shares of Snap in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Snap currently has a consensus rating of “Hold” and an average target price of $14.31.

Insider Buying and Selling

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were 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 directly owns 471,058 shares in the company, valued at $5,798,723.98. This represents a 3.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Derek Andersen sold 97,608 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $9.29, for a total transaction of $906,778.32. Following the completion of the sale, the chief financial officer now owns 2,287,970 shares of the company’s stock, valued at approximately $21,255,241.30. The trade was a 4.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,221,220 shares of company stock worth $14,659,201. 22.68% of the stock is currently owned by insiders.

Snap Profile

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.