Retirement Systems of Alabama Buys New Shares in Snap Inc. (NYSE:SNAP)

Retirement Systems of Alabama bought a new stake in shares of Snap Inc. (NYSE:SNAPFree Report) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 807,803 shares of the company’s stock, valued at approximately $7,036,000.

Other large investors also recently modified their holdings of the company. NBC Securities Inc. lifted its stake in shares of Snap by 154,650.0% during the 1st quarter. NBC Securities Inc. now owns 3,095 shares of the company’s stock valued at $26,000 after buying an additional 3,093 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in shares of Snap during the 4th quarter valued at $27,000. Raiffeisen Bank International AG purchased a new position in shares of Snap during the 4th quarter valued at $30,000. Rakuten Securities Inc. lifted its stake in shares of Snap by 155.4% during the 1st quarter. Rakuten Securities Inc. now owns 3,489 shares of the company’s stock valued at $30,000 after buying an additional 2,123 shares in the last quarter. Finally, Osterweis Capital Management Inc. purchased a new position in shares of Snap during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Snap Stock Performance

Snap stock opened at $7.92 on Tuesday. The company’s 50-day moving average price is $8.32 and its 200-day moving average price is $9.63. Snap Inc. has a twelve month low of $7.08 and a twelve month high of $17.33. The company has a quick ratio of 4.30, a current ratio of 4.30 and a debt-to-equity ratio of 1.55. The company has a market cap of $13.24 billion, a PE ratio of -25.55 and a beta of 0.59.

Snap (NYSE:SNAPGet Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.12). The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Snap had a negative net margin of 9.63% and a negative return on equity of 21.53%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.03 earnings per share. On average, equities research analysts forecast that Snap Inc. will post -0.3 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SNAP shares. Susquehanna lowered their target price on shares of Snap from $13.00 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 30th. The Goldman Sachs Group decreased their price target on shares of Snap from $9.50 to $8.50 and set a “neutral” rating on the stock in a research note on Wednesday, April 30th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $12.00 price target on shares of Snap in a research note on Wednesday, April 30th. Loop Capital decreased their price target on shares of Snap from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, May 16th. Finally, Guggenheim reiterated a “neutral” rating on shares of Snap in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, twenty-three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Snap currently has a consensus rating of “Hold” and an average target price of $35.62.

Read Our Latest Analysis on SNAP

Insider Activity at Snap

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $8.03, for a total value of $8,030,000.00. Following the transaction, the chief technology officer now directly owns 54,517,308 shares in the company, valued at $437,773,983.24. This represents a 1.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Michael J. O’sullivan sold 24,000 shares of the company’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $8.60, for a total transaction of $206,400.00. Following the completion of the transaction, the general counsel now owns 507,660 shares in the company, valued at $4,365,876. This represents a 4.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,639,601 shares of company stock worth $13,532,151.

About Snap

(Free Report)

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.

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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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