Snap Inc. (NYSE:SNAP) CFO Sells $1,077,236.16 in Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 94,164 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $11.44, for a total transaction of $1,077,236.16. Following the transaction, the chief financial officer now directly owns 2,193,806 shares in the company, valued at approximately $25,097,140.64. This represents a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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.

Snap Stock Performance

Shares of Snap stock opened at $11.40 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.75. The firm’s 50-day simple moving average is $11.41 and its 200-day simple moving average is $11.95. The firm has a market cap of $19.12 billion, a PE ratio of -19.65 and a beta of 0.97.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the prior year, the firm posted ($0.21) earnings per share. Snap’s revenue for the quarter was up 15.4% compared to the same quarter last year. Equities analysts forecast that Snap Inc. will post -0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Snap

Several large investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in Snap during the third quarter valued at $29,000. Paladin Wealth LLC acquired a new position in shares of Snap in the 3rd quarter valued at about $30,000. Advisors Asset Management Inc. grew its position in shares of Snap by 141.9% during the 3rd 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 last quarter. Hollencrest Capital Management acquired a new stake in Snap during the second quarter worth about $33,000. Finally, Blue Trust Inc. lifted its holdings in Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after acquiring an additional 1,682 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SNAP. Cantor Fitzgerald lifted their target price on Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Needham & Company LLC reiterated a “buy” rating and set a $640.00 target price on shares of Snap in a report on Thursday, December 5th. Guggenheim reissued a “buy” rating and set a $12.11 target price on shares of Snap in a research report on Tuesday, December 3rd. Benchmark reaffirmed a “hold” rating on shares of Snap in a research report on Friday, October 25th. Finally, JMP Securities dropped their price objective on shares of Snap from $17.00 to $16.00 and set a “market outperform” rating for the company in a research report on Wednesday, October 30th. One 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $37.10.

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.