Westbourne Investment Advisors Inc. Acquires 20,150 Shares of Snap Inc. (NYSE:SNAP)

Westbourne Investment Advisors Inc. raised its holdings in Snap Inc. (NYSE:SNAP) by 6.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. 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 portfolio, making the stock its 29th largest holding. Westbourne Investment Advisors Inc.’s holdings in Snap were worth $3,845,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in shares of Snap by 62.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after purchasing an additional 2,386,519 shares in the last quarter. TB Alternative Assets Ltd. grew its holdings 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 acquiring an additional 4,098,847 shares during the last quarter. Aigen Investment Management LP acquired a new position in Snap during the 3rd quarter worth about $1,345,000. Invenomic Capital Management LP bought a new stake in shares of Snap in the 3rd quarter valued at $2,349,000. Finally, Dynamic Advisor Solutions LLC acquired a new stake in Snap during the 3rd quarter worth about $832,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Stock Up 2.0 %

Shares of NYSE SNAP opened at $10.91 on Friday. The company has a current ratio of 3.95, a quick ratio of 4.04 and a debt-to-equity ratio of 1.47. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.33. The stock has a fifty day moving average price of $11.49 and a 200 day moving average price of $10.89. The company has a market cap of $18.29 billion, a P/E ratio of -25.96 and a beta of 0.99.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate 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 anticipate that Snap Inc. will post -0.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Truist Financial upped their price target on Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Benchmark reiterated a “hold” rating on shares of Snap in a research note on Friday, October 25th. Susquehanna boosted their target price on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday. Cantor Fitzgerald boosted their price target on shares of Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. cut their target price on Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $36.87.

Insider Activity at Snap

In related news, SVP Eric Young sold 50,000 shares of Snap stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $10.54, for a total value of $527,000.00. Following the completion of the sale, the senior vice president now owns 752,110 shares of the company’s stock, valued at approximately $7,927,239.40. The trade was a 6.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $11.49, for a total value of $206,820.00. Following the completion of the sale, the general counsel now directly owns 480,498 shares in the company, valued at approximately $5,520,922.02. This represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 445,184 shares of company stock worth $4,968,189 in the last three months. 22.68% of the stock is owned by company insiders.

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.