Elo Mutual Pension Insurance Co Trims Stock Position in Snap Inc. (NYSE:SNAP)

Elo Mutual Pension Insurance Co trimmed its position in Snap Inc. (NYSE:SNAP) by 20.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,668 shares of the company’s stock after selling 18,725 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Snap were worth $793,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SNAP. United Bank purchased a new position in Snap during the third quarter worth about $177,000. Advisors Asset Management Inc. grew its holdings in shares of Snap by 141.9% during the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after purchasing an additional 1,632 shares in the last quarter. Cerity Partners LLC increased its position in shares of Snap by 1.3% in the third quarter. Cerity Partners LLC now owns 240,208 shares of the company’s stock worth $2,570,000 after purchasing an additional 3,103 shares during the last quarter. Captrust Financial Advisors purchased a new stake in Snap in the third quarter valued at approximately $138,000. Finally, Circle Wealth Management LLC purchased a new position in Snap in the 3rd quarter worth approximately $325,000. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Snap in a report on Thursday, December 5th. Bank of America lifted their price target on Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Barclays reiterated an “overweight” rating on shares of Snap in a research report on Wednesday, February 5th. Wells Fargo & Company lowered Snap from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $15.00 to $11.00 in a research note on Wednesday, February 5th. Finally, Guggenheim downgraded shares of Snap from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Snap presently has an average rating of “Hold” and a consensus price target of $36.87.

Snap Stock Performance

Shares of Snap stock opened at $8.88 on Monday. The business has a fifty day simple moving average of $10.16 and a two-hundred day simple moving average of $10.81. The firm has a market capitalization of $15.06 billion, a P/E ratio of -21.13 and a beta of 0.92. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.33.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. On average, equities analysts forecast that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Transactions at Snap

In other news, CFO Derek Andersen sold 33,618 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $8.83, for a total transaction of $296,846.94. Following the transaction, the chief financial officer now directly owns 3,507,897 shares of the company’s stock, valued at $30,974,730.51. This represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Michael J. O’sullivan sold 14,183 shares of Snap stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $8.83, for a total value of $125,235.89. Following the completion of the sale, the general counsel now owns 2,256,101 shares of the company’s stock, valued at $19,921,371.83. The trade was a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,350,523 shares of company stock valued at $12,698,797. Insiders own 22.68% of the company’s stock.

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.