Insider Selling: Snap Inc. (NYSE:SNAP) CFO Sells 61,334 Shares of Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 61,334 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $664,860.56. Following the completion of the transaction, the chief financial officer now owns 3,564,235 shares in the company, valued at $38,636,307.40. This represents a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 transaction 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 transaction of $1,077,236.16.

Snap Stock Performance

NYSE SNAP traded down $0.11 during trading hours on Thursday, hitting $10.68. The company had a trading volume of 15,947,716 shares, compared to its average volume of 31,435,543. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.33. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The business has a fifty day simple moving average of $11.21 and a 200-day simple moving average of $10.73. The firm has a market cap of $18.11 billion, a P/E ratio of -25.42 and a beta of 0.99.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 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%. Equities analysts predict that Snap Inc. will post -0.3 EPS for the current year.

Hedge Funds Weigh In On Snap

Hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Snap by 62.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after purchasing an additional 2,386,519 shares during the period. Aigen Investment Management LP acquired a new position in shares of Snap in the 3rd quarter valued at $1,345,000. Invenomic Capital Management LP acquired a new position in shares of Snap in the 3rd quarter valued at $2,349,000. Jacobs Levy Equity Management Inc. boosted its position in shares of Snap by 49.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,639,681 shares of the company’s stock valued at $28,245,000 after purchasing an additional 879,212 shares during the period. Finally, Entropy Technologies LP acquired a new stake in Snap during the 3rd quarter worth about $828,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SNAP shares. Loop Capital raised their target price on shares of Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. UBS Group raised their target price on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. BMO Capital Markets reissued an “outperform” rating and issued a $16.00 target price (down previously from $18.00) on shares of Snap in a report on Wednesday, January 15th. Truist Financial raised their target price on Snap from $13.00 to $14.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company downgraded Snap from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $15.00 to $11.00 in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.