Westbourne Investment Advisors Inc. Trims Stake in Snap Inc. (NYSE:SNAP)

Westbourne Investment Advisors Inc. trimmed its position in Snap Inc. (NYSE:SNAP) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 301,481 shares of the company’s stock after selling 6,550 shares during the quarter. Snap accounts for 2.0% of Westbourne Investment Advisors Inc.’s holdings, making the stock its 18th largest holding. Westbourne Investment Advisors Inc.’s holdings in Snap were worth $5,104,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Snap by 7.4% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,440 shares of the company’s stock valued at $176,000 after acquiring an additional 930 shares in the last quarter. Impax Asset Management Group plc increased its stake in Snap by 4.5% during the 3rd quarter. Impax Asset Management Group plc now owns 23,434 shares of the company’s stock valued at $209,000 after purchasing an additional 1,017 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Snap by 7.1% in the third quarter. Principal Financial Group Inc. now owns 15,373 shares of the company’s stock worth $137,000 after buying an additional 1,025 shares during the last quarter. Fund Management at Engine No. 1 LLC lifted its stake in shares of Snap by 8.8% during the second quarter. Fund Management at Engine No. 1 LLC now owns 12,966 shares of the company’s stock worth $154,000 after buying an additional 1,052 shares during the period. Finally, Ethic Inc. grew its holdings in shares of Snap by 13.5% during the first quarter. Ethic Inc. now owns 9,184 shares of the company’s stock valued at $331,000 after buying an additional 1,089 shares during the last quarter. Institutional investors own 47.52% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wells Fargo & Company cut their price target on Snap from $22.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 7th. Roth Mkm lifted their price target on Snap from $10.00 to $14.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Morgan Stanley lowered their price objective on Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 7th. Jefferies Financial Group raised 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 report on Thursday, November 30th. Finally, Royal Bank of Canada decreased their target price on shares of Snap from $17.00 to $13.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $13.70.

Snap Stock Up 1.1 %

NYSE:SNAP traded up $0.13 during trading hours on Thursday, hitting $11.58. The company had a trading volume of 5,893,086 shares, compared to its average volume of 31,133,736. Snap Inc. has a 1 year low of $7.86 and a 1 year high of $17.90. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55. The company has a 50-day moving average of $12.73 and a 200 day moving average of $12.49.

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

Insider Activity

In related news, CAO Rebecca Morrow sold 2,442 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $11.00, for a total transaction of $26,862.00. Following the sale, the chief accounting officer now directly owns 493,084 shares of the company’s stock, valued at approximately $5,423,924. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO Rebecca Morrow sold 2,442 shares of Snap stock in a transaction on Monday, March 18th. The stock was sold at an average price of $11.00, for a total value of $26,862.00. Following the completion of the transaction, the chief accounting officer now directly owns 493,084 shares in the company, valued at $5,423,924. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Evan Spiegel sold 150,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $11.11, for a total value of $1,666,500.00. Following the sale, the chief executive officer now owns 3,627,844 shares in the company, valued at approximately $40,305,346.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 452,462 shares of company stock valued at $5,078,538. 22.68% of the stock is currently owned by corporate insiders.

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.