Derek Andersen Sells 17,789 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 17,789 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $12.00, for a total transaction of $213,468.00. Following the transaction, the chief financial officer now directly owns 2,176,017 shares in the company, valued at approximately $26,112,204. This represents a 0.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, December 16th, Derek Andersen sold 94,164 shares of Snap stock. The shares were sold at an average price of $11.44, for a total transaction of $1,077,236.16.

Snap Trading Up 0.7 %

Shares of SNAP opened at $11.30 on Friday. The firm has a market cap of $18.95 billion, a P/E ratio of -19.48 and a beta of 0.97. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.75. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. The business has a 50-day moving average of $11.40 and a 200 day moving average of $11.98.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The company’s revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.21) earnings per share. As a group, research analysts forecast that Snap Inc. will post -0.4 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on SNAP. UBS Group boosted their target price on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $14.00 target price on shares of Snap in a research report on Wednesday, September 18th. Stifel Nicolaus decreased their price target on shares of Snap from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Monday, October 14th. Roth Mkm restated a “neutral” rating and issued a $14.00 target price on shares of Snap in a report on Wednesday, September 18th. Finally, Cantor Fitzgerald lifted their target price on Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Snap has an average rating of “Hold” and a consensus target price of $37.10.

Hedge Funds Weigh In On Snap

Large investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new stake in shares of Snap during the 3rd quarter valued at $29,000. Paladin Wealth LLC purchased a new position in Snap during the 3rd quarter valued at about $30,000. Advisors Asset Management Inc. increased its position in shares of Snap by 141.9% during the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after buying an additional 1,632 shares during the period. Hollencrest Capital Management purchased a new stake in shares of Snap in the second quarter worth about $33,000. Finally, Blue Trust Inc. boosted its position in shares of Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after acquiring an additional 1,682 shares during the period. 47.52% of the stock is owned by institutional investors.

Snap Company 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.