Westbourne Investment Advisors Inc. Has $5.10 Million Stock Holdings in Snap Inc. (NYSE:SNAP)

Westbourne Investment Advisors Inc. decreased its position in Snap Inc. (NYSE:SNAP) by 2.1% during the fourth quarter, HoldingsChannel reports. The firm owned 301,481 shares of the company’s stock after selling 6,550 shares during the quarter. Snap comprises approximately 2.0% of Westbourne Investment Advisors Inc.’s holdings, making the stock its 18th biggest position. Westbourne Investment Advisors Inc.’s holdings in Snap were worth $5,104,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SNAP. SRS Investment Management LLC acquired a new position in shares of Snap during the second quarter worth approximately $623,522,000. Wellington Management Group LLP raised its stake in Snap by 95.8% during the 1st quarter. Wellington Management Group LLP now owns 17,811,242 shares of the company’s stock valued at $641,028,000 after purchasing an additional 8,712,380 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Snap by 877.9% during the second quarter. Alliancebernstein L.P. now owns 3,844,254 shares of the company’s stock valued at $45,516,000 after buying an additional 3,451,146 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Snap in the first quarter valued at about $104,868,000. Finally, Capital International Investors grew its position in Snap by 96.8% during the first quarter. Capital International Investors now owns 5,263,312 shares of the company’s stock worth $189,427,000 after buying an additional 2,588,200 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Snap Stock Performance

NYSE:SNAP traded up $0.13 during trading hours on Thursday, hitting $11.58. 5,893,086 shares of the stock were exchanged, compared to its average volume of 31,133,736. The company’s 50 day moving average is $12.73 and its two-hundred day moving average is $12.49. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55. Snap Inc. has a twelve month low of $7.86 and a twelve month high of $17.90.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, February 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.39 billion. Analysts predict that Snap Inc. will post -0.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SNAP shares. Rosenblatt Securities raised their price objective on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Stifel Nicolaus raised their target price on Snap from $10.00 to $14.00 and gave the stock a “hold” rating in a research report on Tuesday, January 9th. Truist Financial boosted their price target on shares of Snap from $11.00 to $12.00 and gave the company a “hold” rating in a report on Wednesday, February 7th. Jefferies Financial Group upgraded shares of Snap from a “hold” rating to a “buy” rating and lifted their target price for the company from $12.00 to $16.00 in a research report on Thursday, November 30th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Snap from a “hold” rating to a “buy” rating and upped their target price for the company from $10.00 to $19.00 in a research note on Friday, January 26th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.70.

Insiders Place Their Bets

In related news, CFO Derek Andersen sold 96,953 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $10.99, for a total value of $1,065,513.47. Following the completion of the sale, the chief financial officer now owns 2,534,689 shares in the company, valued at $27,856,232.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Michael J. O’sullivan sold 13,000 shares of Snap stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total transaction of $210,080.00. Following the transaction, the general counsel now directly owns 461,005 shares of the company’s stock, valued at $7,449,840.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Derek Andersen sold 96,953 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $10.99, for a total transaction of $1,065,513.47. Following the completion of the transaction, the chief financial officer now directly owns 2,534,689 shares of the company’s stock, valued at approximately $27,856,232.11. The disclosure for this sale can be found here. In the last 90 days, insiders sold 452,462 shares of company stock valued at $5,078,538. Company insiders own 22.68% of the company’s stock.

Snap Company 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.