Westbourne Investment Advisors Inc. Buys 11,958 Shares of Snap Inc. (NYSE:SNAP)

Westbourne Investment Advisors Inc. increased its stake in Snap Inc. (NYSE:SNAP) by 3.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 336,837 shares of the company’s stock after purchasing an additional 11,958 shares during the period. Snap makes up 1.3% of Westbourne Investment Advisors Inc.’s holdings, making the stock its 28th biggest holding. Westbourne Investment Advisors Inc.’s holdings in Snap were worth $3,604,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Snap by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 96,148,590 shares of the company’s stock worth $1,103,786,000 after buying an additional 830,889 shares during the last quarter. Capital World Investors boosted its stake in shares of Snap by 0.8% in the 1st quarter. Capital World Investors now owns 46,272,273 shares of the company’s stock valued at $531,206,000 after purchasing an additional 385,191 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Snap by 587.3% in the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock valued at $243,629,000 after purchasing an additional 12,533,653 shares in the last quarter. Ossiam grew its holdings in shares of Snap by 7.1% during the 1st quarter. Ossiam now owns 11,334,804 shares of the company’s stock valued at $130,124,000 after purchasing an additional 751,846 shares during the last quarter. Finally, TB Alternative Assets Ltd. lifted its stake in Snap by 105.6% in the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after purchasing an additional 4,098,847 shares during the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Piper Sandler reissued a “neutral” rating and set a $13.00 price target (up from $12.00) on shares of Snap in a research note on Wednesday. Argus raised shares of Snap to a “hold” rating in a report on Thursday, August 8th. Cantor Fitzgerald lifted their price target on shares of Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Wednesday. Roth Mkm restated a “neutral” rating and issued a $14.00 price objective on shares of Snap in a report on Wednesday, September 18th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 target price on shares of Snap in a report on Wednesday. One analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $14.25.

Insider Activity

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total value of $8,690,000.00. Following the transaction, the chief technology officer now owns 58,553,813 shares in the company, valued at approximately $508,832,634.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Snap news, CEO Evan Spiegel sold 150,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $8.85, for a total value of $1,327,500.00. Following the completion of the transaction, the chief executive officer now owns 3,327,844 shares in the company, valued at approximately $29,451,419.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the transaction, the chief technology officer now directly owns 58,553,813 shares of the company’s stock, valued at approximately $508,832,634.97. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,497,051 shares of company stock valued at $13,261,098. 22.68% of the stock is currently owned by company insiders.

Snap Price Performance

NYSE SNAP traded up $0.37 on Friday, hitting $12.53. The stock had a trading volume of 49,753,791 shares, compared to its average volume of 28,778,938. The firm has a 50-day moving average of $10.18 and a 200-day moving average of $12.72. The company has a market capitalization of $20.79 billion, a price-to-earnings ratio of -21.60 and a beta of 0.99. The company has a debt-to-equity ratio of 1.63, a quick ratio of 3.98 and a current ratio of 4.04. Snap Inc. has a 52-week low of $8.29 and a 52-week high of $17.90.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the prior year, the firm earned ($0.21) earnings per share. The firm’s revenue was up 15.4% on a year-over-year basis. Equities analysts expect that Snap Inc. will post -0.47 EPS for the current year.

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.