Foster Victor Wealth Advisors LLC Makes New $110,000 Investment in Snap Inc. (NYSE:SNAP)

Foster Victor Wealth Advisors LLC bought a new stake in shares of Snap Inc. (NYSE:SNAP) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 10,150 shares of the company’s stock, valued at approximately $110,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SNAP. TB Alternative Assets Ltd. grew its stake in Snap by 105.6% during the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after buying an additional 4,098,847 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Snap by 62.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after acquiring an additional 2,386,519 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Snap by 49.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock worth $41,842,000 after acquiring an additional 1,297,348 shares during the last quarter. Groupama Asset Managment acquired a new stake in shares of Snap in the 3rd quarter worth about $13,032,000. Finally, Assenagon Asset Management S.A. lifted its position in Snap by 51.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company’s stock valued at $33,244,000 after purchasing an additional 1,050,501 shares during the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on SNAP. Guggenheim restated a “buy” rating and issued a $12.11 price target on shares of Snap in a research note on Tuesday, December 3rd. Truist Financial raised their target price on Snap from $13.00 to $14.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. BMO Capital Markets reiterated an “outperform” rating and set a $16.00 price target (down previously from $18.00) on shares of Snap in a research report on Wednesday, January 15th. B. Riley raised their price target on Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group upped their price objective on shares of Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Snap has a consensus rating of “Hold” and an average target price of $36.99.

Insider Activity

In related news, General Counsel Michael J. O’sullivan sold 12,315 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.54, for a total transaction of $129,800.10. Following the completion of the sale, the general counsel now directly owns 1,195,567 shares in the company, valued at approximately $12,601,276.18. This trade represents a 1.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Eric Young sold 112,020 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.55, for a total transaction of $1,181,811.00. Following the completion of the transaction, the senior vice president now owns 2,791,048 shares in the company, valued at approximately $29,445,556.40. This represents a 3.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 427,184 shares of company stock worth $4,761,369. 22.68% of the stock is owned by corporate insiders.

Snap Stock Performance

SNAP stock opened at $11.62 on Thursday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.50. The company’s 50 day simple moving average is $11.52 and its 200-day simple moving average is $11.03.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The company’s revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.21) EPS. On average, equities research analysts anticipate that Snap Inc. will post -0.39 EPS for the current fiscal year.

About Snap

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.