Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Snap Inc (NYSE:SNAP) by 14.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 211,314 shares of the company’s stock after buying an additional 26,137 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Snap were worth $4,964,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Commonwealth Equity Services LLC boosted its stake in shares of Snap by 15.2% in the 1st quarter. Commonwealth Equity Services LLC now owns 219,787 shares of the company’s stock valued at $2,613,000 after purchasing an additional 28,971 shares in the last quarter. Forsta AP Fonden bought a new stake in Snap during the 1st quarter valued at about $1,165,000. Guggenheim Capital LLC increased its stake in Snap by 65.6% during the 4th quarter. Guggenheim Capital LLC now owns 59,248 shares of the company’s stock valued at $968,000 after purchasing an additional 23,475 shares in the last quarter. APG Asset Management N.V. increased its stake in Snap by 109.3% during the 1st quarter. APG Asset Management N.V. now owns 940,804 shares of the company’s stock valued at $11,186,000 after purchasing an additional 491,300 shares in the last quarter. Finally, Cedar Capital LLC increased its stake in Snap by 21.5% during the 1st quarter. Cedar Capital LLC now owns 80,735 shares of the company’s stock valued at $960,000 after purchasing an additional 14,287 shares in the last quarter. Institutional investors own 39.37% of the company’s stock.
SNAP has been the subject of a number of analyst reports. Stifel Nicolaus restated a “buy” rating and set a $27.00 price objective on shares of Snap in a research note on Friday, July 17th. Loop Capital lifted their price target on shares of Snap from $21.00 to $25.00 in a research note on Wednesday, June 10th. JPMorgan Chase & Co. lifted their price target on shares of Snap from $22.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Goldman Sachs Group lifted their price target on shares of Snap from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. They noted that the move was a valuation call. Finally, Wedbush reiterated a “hold” rating and issued a $18.00 price target on shares of Snap in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $23.55.
Shares of NYSE:SNAP opened at $22.42 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 5.99 and a quick ratio of 5.99. Snap Inc has a 1-year low of $7.89 and a 1-year high of $26.76. The company has a market capitalization of $32.68 billion, a P/E ratio of -29.12 and a beta of 1.79. The firm’s 50 day simple moving average is $23.16 and its two-hundred day simple moving average is $17.65.
In other news, Director Joanna Coles sold 6,896 shares of Snap stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $17.40, for a total transaction of $119,990.40. Following the sale, the director now owns 70,997 shares in the company, valued at $1,235,347.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Rebecca Morrow sold 8,069 shares of Snap stock in a transaction that occurred on Thursday, July 16th. The shares were sold at an average price of $24.09, for a total transaction of $194,382.21. Following the sale, the chief accounting officer now owns 267,733 shares in the company, valued at approximately $6,449,687.97. The disclosure for this sale can be found here. Insiders have sold 4,444,642 shares of company stock worth $90,517,622 in the last ninety days.
Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.
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