Snap also stands to gain from its recent investments in ad tech.
Also weighing on Snap shares is the end of a six-month period in which employee-shareholders couldn't sell their stock. Sumitomo Mitsui Asset Management Company LTD purchased a new position in shares of Snap during the first quarter worth $2,119,000. Pacer Advisors Inc. increased its position in Snap by 8.3% in the second quarter.
Altogether, its been a rough few months for shareholders since the company first began trading on the New York Stock Exchange earlier this year. Monness Crespi & Hardt cut Snap from a "buy" rating to a "neutral" rating in a report on Friday. The firm's market capitalization is $15.90 billion.
Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, August 10th. "We are encouraged by the company's early efforts to increase engagement and content creation on the platform through new products and features". It won't be easy for Snapchat to top $1 billion in revenue this year, as investors have expected. On average, analysts anticipate that Snap Inc. will post ($0.56) earnings per share for the current year.
Facebook recently shut down Lifestage, which lets those 21 and under share photos, selfies and videos with classmates. "(SNAP) Acquired by Dubuque Bank & Trust Co." was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this story on another website, it was illegally copied and reposted in violation of global trademark and copyright legislation. The original version of this report can be read at https://www.thestockobserver.com/2017/08/11/snap-inc-snap-shares-bought-by-nn-investment-partners-holdings-n-v-updated-updated.html.
A number of institutional investors have recently added to or reduced their stakes in the stock.
Shares of Snap closed up 4.15 percent at $13.56 on Wednesday, still well below the $17 price in the initial public offering, the third-largest IPO for a USA technology company.
Today, Snap did little to change its trajectory when it reported quarterly earnings that missed Wall Street projections. Snap executives have argued that they can meaningfully grow the business by making more money off existing users, rather than rely on exponential user growth like Facebook. The company's shares look as if they will open trading on Friday 29% below their IPO price. Finally, Nomura reissued a "sell" rating and issued a $28.00 price objective (up from $16.00) on shares of Snap in a research note on Thursday, May 11th. The figure counted spending by the same parent company, meaning a new division of a conglomerate giving Snapchat ads a whirl this year would have counted in Snap's favor.
Snap Inc. should be very anxious about Facebook's Instagram Stories, which now has more users than Snapchat itself. It now offers video stories, maps and other features.
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