Snap Inc. (NYSE:SNAP) Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. reduced its stake in shares of Snap Inc. (NYSE:SNAP) by 24.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 655,877 shares of the company’s stock after selling 214,714 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Snap were worth $7,018,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Hollencrest Capital Management purchased a new position in shares of Snap during the 2nd quarter valued at approximately $33,000. Blue Trust Inc. grew its position in Snap by 354.1% during the second 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. Rothschild Investment LLC purchased a new position in Snap in the second quarter valued at $40,000. V Square Quantitative Management LLC acquired a new position in shares of Snap in the third quarter worth about $29,000. Finally, Paladin Wealth LLC purchased a new stake in shares of Snap during the 3rd quarter worth about $30,000. 47.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SNAP shares. Evercore ISI lifted their price target on Snap from $12.00 to $15.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. UBS Group raised their price objective on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Citigroup upped their target price on Snap from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, November 29th. Benchmark reissued a “hold” rating on shares of Snap in a research note on Friday, October 25th. Finally, Stifel Nicolaus reduced their price objective on shares of Snap from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $13.91.

Insider Transactions at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $11.89, for a total value of $214,020.00. Following the completion of the transaction, the general counsel now owns 464,009 shares in the company, valued at $5,517,067.01. The trade was a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Derek Andersen sold 97,608 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $9.29, for a total value of $906,778.32. Following the completion of the sale, the chief financial officer now owns 2,287,970 shares in the company, valued at approximately $21,255,241.30. The trade was a 4.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,406,709 shares of company stock worth $16,662,107 over the last ninety days.

Snap Stock Up 6.3 %

Shares of NYSE SNAP opened at $12.87 on Wednesday. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.90. The company has a market capitalization of $21.59 billion, a P/E ratio of -22.19 and a beta of 0.97. The company has a 50 day simple moving average of $11.12 and a 200-day simple moving average of $12.24. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the business posted ($0.21) EPS. The company’s revenue was up 15.4% compared to the same quarter last year. On average, equities research analysts predict that Snap Inc. will post -0.4 earnings per share for the current year.

Snap Company 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.