Derek Andersen Sells 61,334 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 61,334 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $664,860.56. Following the completion of the sale, the chief financial officer now directly owns 3,564,235 shares of the company’s stock, valued at approximately $38,636,307.40. This trade represents a 1.69 % decrease in their position. The sale 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.
• 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 value of $1,077,236.16.

Snap Stock Down 3.1 %

NYSE SNAP opened at $10.35 on Friday. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. The stock’s 50 day moving average is $11.19 and its two-hundred day moving average is $10.74. The company has a market capitalization of $17.55 billion, a price-to-earnings ratio of -24.63 and a beta of 0.99. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.33.

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%. Equities analysts forecast that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SNAP has been the subject of several recent analyst reports. Loop Capital raised their target price on 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. Canaccord Genuity Group raised their target price on Snap from $12.00 to $13.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Evercore ISI raised their target price on Snap from $12.00 to $15.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Finally, Guggenheim lowered Snap from a “buy” rating to a “neutral” rating in a report on Tuesday, February 11th. 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 currently has an average rating of “Hold” and a consensus target price of $36.87.

Institutional Investors Weigh In On Snap

A number of institutional investors have recently added to or reduced their stakes in the stock. Checchi Capital Advisers LLC boosted its holdings in Snap by 3.0% during the fourth quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company’s stock valued at $335,000 after purchasing an additional 901 shares in the last quarter. HCR Wealth Advisors boosted its holdings in shares of Snap by 3.9% in the 4th quarter. HCR Wealth Advisors now owns 25,016 shares of the company’s stock worth $269,000 after acquiring an additional 934 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of Snap by 8.0% in the 4th quarter. Captrust Financial Advisors now owns 13,918 shares of the company’s stock worth $150,000 after acquiring an additional 1,030 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Snap by 1.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 61,365 shares of the company’s stock worth $661,000 after acquiring an additional 1,033 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of Snap by 3.1% in the 4th quarter. Empowered Funds LLC now owns 35,639 shares of the company’s stock worth $384,000 after acquiring an additional 1,055 shares in the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

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.