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

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 17,789 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $12.00, for a total value of $213,468.00. Following the transaction, the chief financial officer now owns 2,176,017 shares of the company’s stock, valued at approximately $26,112,204. The trade was a 0.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 value of $1,077,236.16.

Snap Stock Performance

Shares of SNAP stock opened at $11.30 on Friday. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The stock has a fifty day moving average of $11.40 and a 200 day moving average of $11.98. The firm has a market capitalization of $18.95 billion, a price-to-earnings ratio of -19.48 and a beta of 0.97. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.75.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SNAP. GraniteShares Advisors LLC lifted its stake in shares of Snap by 2.5% in the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock valued at $634,000 after purchasing an additional 941 shares during the period. Concurrent Investment Advisors LLC lifted its position in Snap by 4.0% during the second quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock valued at $448,000 after buying an additional 1,048 shares during the period. Metis Global Partners LLC boosted its holdings in shares of Snap by 6.9% during the 3rd quarter. Metis Global Partners LLC now owns 19,352 shares of the company’s stock valued at $207,000 after buying an additional 1,255 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Snap by 1.9% in the 3rd quarter. Intech Investment Management LLC now owns 77,592 shares of the company’s stock worth $830,000 after buying an additional 1,433 shares during the period. Finally, MML Investors Services LLC increased its stake in shares of Snap by 6.8% in the 3rd quarter. MML Investors Services LLC now owns 25,245 shares of the company’s stock worth $270,000 after acquiring an additional 1,614 shares in the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on SNAP shares. Bank of America upped their price objective on shares of Snap from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Stifel Nicolaus decreased their price target on shares of Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, October 14th. Wells Fargo & Company dropped their price objective on shares of Snap from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, October 4th. B. Riley increased their target price on Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 price target on shares of Snap in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Snap presently has a consensus rating of “Hold” and a consensus price target 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.