Snap Inc. (NYSE:SNAP) CFO Derek Andersen Sells 22,720 Shares of Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 22,720 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $8.58, for a total transaction of $194,937.60. Following the transaction, the chief financial officer now owns 3,541,515 shares in the company, valued at approximately $30,386,198.70. This trade represents a 0.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Derek Andersen also recently made the following trade(s):

• On Monday, March 17th, Derek Andersen sold 33,618 shares of Snap stock. The shares were sold at an average price of $8.83, for a total value of $296,846.94.
• On Tuesday, February 18th, Derek Andersen sold 61,334 shares of Snap stock. The stock was sold at an average price of $10.84, for a total value of $664,860.56.
• On Wednesday, December 18th, Derek Andersen sold 17,789 shares of Snap stock. The stock was sold at an average price of $12.00, for a total value of $213,468.00.

Snap Trading Down 2.9 %

NYSE SNAP opened at $8.73 on Wednesday. The company has a 50-day moving average of $10.56 and a 200-day moving average of $10.80. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.33. The company has a market cap of $14.80 billion, a P/E ratio of -20.77 and a beta of 0.92.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. As a group, equities analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.

Institutional Investors Weigh In On Snap

A number of institutional investors have recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC raised its holdings in shares of Snap by 3.0% in the 4th quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company’s stock worth $335,000 after purchasing an additional 901 shares during the period. HCR Wealth Advisors raised its holdings in Snap by 3.9% in the fourth quarter. HCR Wealth Advisors now owns 25,016 shares of the company’s stock valued at $269,000 after buying an additional 934 shares during the period. Captrust Financial Advisors lifted its position in Snap by 8.0% during the fourth quarter. Captrust Financial Advisors now owns 13,918 shares of the company’s stock valued at $150,000 after buying an additional 1,030 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Snap by 1.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 61,365 shares of the company’s stock worth $661,000 after buying an additional 1,033 shares during the period. Finally, Empowered Funds LLC increased its position in shares of Snap by 3.1% in the fourth quarter. Empowered Funds LLC now owns 35,639 shares of the company’s stock worth $384,000 after acquiring an additional 1,055 shares in the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Analyst Upgrades and Downgrades

SNAP has been the topic of several research analyst reports. Wells Fargo & Company lowered shares of Snap from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $15.00 to $11.00 in a research report on Wednesday, February 5th. Barclays reissued an “overweight” rating on shares of Snap in a report on Wednesday, February 5th. JPMorgan Chase & Co. dropped their target price on shares of Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Wednesday, February 5th. Susquehanna boosted their price target on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $16.00 price objective (down from $18.00) on shares of Snap in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $36.87.

About Snap

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.