Snap Inc. (NYSE:SNAP) CFO Derek Andersen Sells 33,618 Shares of Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 33,618 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $8.83, for a total transaction of $296,846.94. Following the completion of the transaction, the chief financial officer now directly owns 3,507,897 shares in the company, valued at $30,974,730.51. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, March 14th, Derek Andersen sold 22,720 shares of Snap stock. The shares were sold at an average price of $8.58, for a total value of $194,937.60.
• 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 shares were sold at an average price of $12.00, for a total transaction of $213,468.00.

Snap Stock Performance

NYSE:SNAP opened at $8.73 on Wednesday. The firm’s fifty day simple moving average is $10.56 and its 200-day simple moving average is $10.80. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The stock has a market cap of $14.80 billion, a PE ratio of -20.77 and a beta of 0.92. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.33.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. Analysts expect that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Snap

Hedge funds have recently bought and sold shares of the company. Mountain Hill Investment Partners Corp. purchased a new stake in Snap during the fourth quarter worth $27,000. Advisors Asset Management Inc. boosted its position in shares of Snap by 141.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after buying an additional 1,632 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in Snap in the 4th quarter valued at about $30,000. Comprehensive Financial Planning Inc. PA acquired a new stake in Snap in the 4th quarter valued at about $32,000. Finally, Brooklyn Investment Group purchased a new position in Snap during the 3rd quarter valued at about $41,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SNAP has been the topic of a number of research reports. Bank of America upped their price target on Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Citizens Jmp lowered shares of Snap from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 target price on shares of Snap in a research note on Thursday, December 5th. JMP Securities reissued a “market outperform” rating and set a $16.00 target price on shares of Snap in a research note on Monday, January 27th. Finally, Guggenheim downgraded shares of Snap from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.