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

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 33,618 shares of Snap stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $8.83, for a total transaction of $296,846.94. Following the transaction, the chief financial officer now directly owns 3,507,897 shares in the company, valued at approximately $30,974,730.51. This trade represents a 0.95 % 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 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 transaction 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 transaction 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 transaction of $213,468.00.

Snap Stock Up 2.2 %

Snap stock opened at $9.24 on Friday. The company has a 50-day simple moving average of $10.44 and a 200-day simple moving average of $10.77. The firm has a market capitalization of $15.67 billion, a P/E ratio of -21.99 and a beta of 0.92. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. Snap Inc. has a one year low of $8.29 and a one year high of $17.33.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 EPS 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%. As a group, equities analysts expect that Snap Inc. will post -0.3 earnings per share for the current year.

Institutional Investors Weigh In On Snap

Several institutional investors have recently bought and sold shares of the stock. Checchi Capital Advisers LLC lifted its holdings in Snap by 3.0% in the fourth 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 lifted its holdings in Snap by 3.9% in the fourth quarter. HCR Wealth Advisors now owns 25,016 shares of the company’s stock worth $269,000 after purchasing an additional 934 shares during the period. Captrust Financial Advisors lifted its holdings in Snap by 8.0% in the fourth quarter. Captrust Financial Advisors now owns 13,918 shares of the company’s stock worth $150,000 after purchasing an additional 1,030 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Snap by 1.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 61,365 shares of the company’s stock worth $661,000 after purchasing an additional 1,033 shares during the period. Finally, Empowered Funds LLC lifted its holdings in 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 purchasing an additional 1,055 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SNAP. Barclays reissued an “overweight” rating on shares of Snap in a research report on Wednesday, February 5th. BMO Capital Markets reissued an “outperform” rating and set a $16.00 target price (down from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Susquehanna boosted their target price on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. dropped their price target on shares of Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Wednesday, February 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $640.00 price target on shares of Snap in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Snap presently has a consensus rating of “Hold” and a consensus price target of $36.87.

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.