Derek Andersen Sells 61,334 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 61,334 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $664,860.56. Following the sale, the chief financial officer now owns 3,564,235 shares in the company, valued at approximately $38,636,307.40. This represents a 1.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

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

Snap Stock Down 3.1 %

Shares of NYSE:SNAP opened at $10.35 on Friday. The stock’s 50-day moving average price is $11.19 and its 200-day moving average price is $10.75. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.33. The stock has a market capitalization of $17.55 billion, a P/E ratio of -24.63 and a beta of 0.99. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share (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%. On average, equities analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current year.

Analysts Set New Price Targets

SNAP has been the topic of a number of recent analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $16.00 price objective on shares of Snap in a research report on Monday, January 27th. Guggenheim downgraded Snap from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 11th. Citigroup increased their price objective on Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Cantor Fitzgerald increased their price objective on Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, B. Riley increased their price objective on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $36.87.

Institutional Trading of Snap

Large investors have recently modified their holdings of the business. Mountain Hill Investment Partners Corp. bought a new stake in shares of Snap in the fourth quarter worth about $27,000. Advisors Asset Management Inc. grew its stake in shares of Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after purchasing an additional 1,632 shares during the last quarter. Raiffeisen Bank International AG bought a new stake in shares of Snap in the fourth quarter worth about $30,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Snap in the fourth quarter worth about $32,000. Finally, Brooklyn Investment Group bought a new stake in shares of Snap in the third quarter worth about $41,000. 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.