Savant Capital LLC Buys Shares of 289,049 Snap Inc. (NYSE:SNAP)

Savant Capital LLC bought a new stake in Snap Inc. (NYSE:SNAP) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 289,049 shares of the company’s stock, valued at approximately $3,113,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Empowered Funds LLC grew its holdings in shares of Snap by 3.1% during the 4th quarter. Empowered Funds LLC now owns 35,639 shares of the company’s stock valued at $384,000 after purchasing an additional 1,055 shares during the last quarter. Moloney Securities Asset Management LLC bought a new stake in Snap during the 4th quarter worth approximately $186,000. Westbourne Investment Advisors Inc. grew its holdings in Snap by 6.0% during the 4th quarter. Westbourne Investment Advisors Inc. now owns 356,987 shares of the company’s stock worth $3,845,000 after acquiring an additional 20,150 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Snap by 0.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,245,128 shares of the company’s stock worth $34,950,000 after acquiring an additional 15,294 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Snap by 42.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 82,750 shares of the company’s stock worth $909,000 after acquiring an additional 24,533 shares during the last quarter. 47.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SNAP shares. B. Riley boosted their target price on shares of Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Citigroup boosted their target price on shares of Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Bank of America boosted their target price on shares of Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Cantor Fitzgerald boosted their target price on shares of Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company downgraded shares of Snap from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $15.00 to $11.00 in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Snap has an average rating of “Hold” and an average price target of $36.87.

Snap Stock Performance

Shares of SNAP stock opened at $10.90 on Wednesday. The firm has a market capitalization of $18.27 billion, a PE ratio of -25.94 and a beta of 0.99. The firm has a fifty day simple moving average of $11.40 and a two-hundred day simple moving average of $10.78. 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.

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

Insider Buying and Selling at Snap

In other news, CFO Derek Andersen sold 94,164 shares of the company’s stock in a transaction 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 sale, the chief financial officer now owns 2,193,806 shares in the company, valued at $25,097,140.64. This represents a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Rebecca Morrow sold 32,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $12.42, for a total transaction of $397,440.00. Following the completion of the sale, the chief accounting officer now owns 433,064 shares of the company’s stock, valued at approximately $5,378,654.88. The trade was a 6.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 443,518 shares of company stock worth $4,947,981. 22.68% of the stock is 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.