Derek Andersen Sells 22,720 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 22,720 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $8.58, for a total value of $194,937.60. Following the completion of the transaction, the chief financial officer now owns 3,541,515 shares in the company, valued at approximately $30,386,198.70. The trade was a 0.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Monday, March 17th, Derek Andersen sold 33,618 shares of Snap stock. The shares were sold at an average price of $8.83, for a total value of $296,846.94.
• 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 value of $664,860.56.
• On Wednesday, December 18th, Derek Andersen sold 17,789 shares of Snap stock. The shares were sold at an average price of $12.00, for a total transaction of $213,468.00.

Snap Trading Up 3.7 %

Shares of SNAP stock opened at $9.06 on Thursday. The business has a 50-day moving average of $10.56 and a 200 day moving average of $10.80. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.33. The stock has a market capitalization of $15.36 billion, a PE ratio of -21.56 and a beta of 0.92.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share 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%. As a group, sell-side analysts anticipate 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 added to or reduced their stakes in the company. United Bank purchased a new stake in shares of Snap during the third quarter worth about $177,000. GSA Capital Partners LLP increased its holdings in Snap by 166.9% during the 3rd quarter. GSA Capital Partners LLP now owns 68,150 shares of the company’s stock valued at $729,000 after purchasing an additional 42,612 shares during the period. Metis Global Partners LLC raised its position in 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 purchasing an additional 1,255 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new stake in Snap in the 3rd quarter worth approximately $122,000. Finally, CIBC Asset Management Inc grew its position in shares of Snap by 5.1% in the 3rd quarter. CIBC Asset Management Inc now owns 47,648 shares of the company’s stock worth $510,000 after buying an additional 2,326 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their price target on shares of Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Wednesday, February 5th. Guggenheim cut shares of Snap from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 11th. Needham & Company LLC restated a “buy” rating and set a $640.00 price target on shares of Snap in a research report on Thursday, December 5th. Susquehanna increased their price objective on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Finally, Barclays reissued an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $36.87.

About Snap

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.