River & Mercantile Asset Management LLP boosted its holdings in Snap Inc (NYSE:SNAP) by 23.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 299,930 shares of the company’s stock after purchasing an additional 57,000 shares during the quarter. River & Mercantile Asset Management LLP’s holdings in Snap were worth $4,383,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. WFG Advisors LP boosted its holdings in shares of Snap by 52.4% during the 2nd quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock valued at $131,000 after purchasing an additional 2,537 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Snap by 22.9% during the 3rd quarter. Rhumbline Advisers now owns 22,900 shares of the company’s stock valued at $333,000 after purchasing an additional 4,260 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Snap by 30.7% during the 3rd quarter. IFP Advisors Inc now owns 20,605 shares of the company’s stock valued at $300,000 after purchasing an additional 4,838 shares during the last quarter. Wedbush Securities Inc. boosted its holdings in shares of Snap by 45.1% during the 3rd quarter. Wedbush Securities Inc. now owns 17,925 shares of the company’s stock valued at $261,000 after purchasing an additional 5,575 shares during the last quarter. Finally, First Manhattan Co. boosted its holdings in shares of Snap by 384.5% during the 3rd quarter. First Manhattan Co. now owns 7,631 shares of the company’s stock valued at $110,000 after purchasing an additional 6,056 shares during the last quarter. Institutional investors and hedge funds own 18.98% of the company’s stock.

Several research firms have commented on SNAP. Oppenheimer increased their price objective on shares of Snap from $14.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Summit Redstone raised shares of Snap from a “sell” rating to a “hold” rating and set a $16.00 price target for the company in a report on Wednesday, February 7th. Vetr downgraded shares of Snap from a “strong-buy” rating to a “buy” rating and set a $22.73 price target for the company. in a report on Thursday, February 8th. Aegis reaffirmed a “hold” rating and issued a $18.00 price target (up previously from $13.00) on shares of Snap in a report on Thursday, February 8th. Finally, Pivotal Research reaffirmed a “sell” rating and issued a $10.00 price target on shares of Snap in a report on Thursday, February 8th. Fourteen investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fifteen have given a buy rating to the company. Snap currently has an average rating of “Hold” and an average price target of $18.25.

In other news, CEO Evan Spiegel sold 739,663 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $13.63, for a total transaction of $10,081,606.69. Following the transaction, the chief executive officer now directly owns 85,744,509 shares of the company’s stock, valued at $1,168,697,657.67. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Steven Michael Horowitz sold 286,332 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $12.54, for a total transaction of $3,590,603.28. Following the transaction, the vice president now directly owns 2,532,598 shares in the company, valued at $31,758,778.92. The disclosure for this sale can be found here. Insiders sold a total of 2,205,407 shares of company stock worth $32,265,178 over the last three months.

Shares of Snap Inc (SNAP) opened at $18.63 on Tuesday. Snap Inc has a 1 year low of $11.28 and a 1 year high of $29.44.

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Snap Profile

Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.

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Institutional Ownership by Quarter for Snap (NYSE:SNAP)

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