Westbourne Investment Advisors Inc. Has $3.85 Million Stock Position in Snap Inc. (NYSE:SNAP)

Westbourne Investment Advisors Inc. increased its holdings in shares of Snap Inc. (NYSE:SNAP) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 356,987 shares of the company’s stock after buying an additional 20,150 shares during the period. Snap accounts for about 1.3% of Westbourne Investment Advisors Inc.’s investment portfolio, making the stock its 29th biggest holding. Westbourne Investment Advisors Inc.’s holdings in Snap were worth $3,845,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Snap

In other news, SVP Eric Young sold 112,020 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.55, for a total value of $1,181,811.00. Following the completion of the sale, the senior vice president now directly owns 2,791,048 shares of the company’s stock, valued at approximately $29,445,556.40. This represents a 3.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Derek Andersen sold 94,164 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $11.44, for a total value of $1,077,236.16. Following the completion of the transaction, the chief financial officer now directly owns 2,193,806 shares in the company, valued at approximately $25,097,140.64. The trade was a 4.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 445,184 shares of company stock worth $4,968,189 over the last three months. Insiders own 22.68% of the company’s stock.

Snap Trading Up 2.0 %

NYSE SNAP opened at $10.91 on Friday. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 4.04. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.33. The company has a fifty day moving average of $11.49 and a 200 day moving average of $10.89. The company has a market capitalization of $18.29 billion, a PE ratio of -25.96 and a beta of 0.99.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. Research analysts forecast that Snap Inc. will post -0.26 earnings per share for the current year.

Wall Street Analyst Weigh In

SNAP has been the topic of a number of recent analyst reports. UBS Group boosted their target price on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Stifel Nicolaus dropped their price target on shares of Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. Bank of America raised their price target on shares of Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a report on Wednesday. Royal Bank of Canada restated a “sector perform” rating and issued a $16.00 target price on shares of Snap in a report on Wednesday, October 30th. Finally, Guggenheim reiterated a “buy” rating and set a $12.11 target price on shares of Snap in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Snap presently has a consensus rating of “Hold” and an average price target of $36.87.

Snap 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.