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 dated Friday, March 14th. The shares were sold at an average price of $8.58, for a total transaction 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. This trade represents a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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 transaction of $296,846.94.
• On Tuesday, February 18th, Derek Andersen sold 61,334 shares of Snap stock. The shares were sold at an average price of $10.84, for a total transaction 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 Stock Down 2.9 %

Shares of SNAP traded down $0.27 during mid-day trading on Tuesday, reaching $8.73. 25,157,896 shares of the stock traded hands, compared to its average volume of 25,410,513. The firm has a market cap of $14.80 billion, a price-to-earnings ratio of -20.77 and a beta of 0.92. The stock has a fifty day simple moving average of $10.56 and a 200 day simple moving average of $10.80. Snap Inc. has a 12-month low of $8.29 and a 12-month 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.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share (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%. Sell-side analysts expect that Snap Inc. will post -0.3 EPS for the current fiscal year.

Analysts Set New Price Targets

SNAP has been the topic of a number of recent research reports. Citigroup upped their target price on shares of Snap from $13.00 to $13.50 and gave the company a “neutral” rating in a report on Wednesday, February 5th. JMP Securities restated a “market outperform” rating and issued a $16.00 target price on shares of Snap in a report on Monday, January 27th. BMO Capital Markets restated an “outperform” rating and issued a $16.00 target price (down from $18.00) on shares of Snap in a report on Wednesday, January 15th. Wells Fargo & Company cut shares of Snap from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $15.00 to $11.00 in a research report on Wednesday, February 5th. Finally, Guggenheim cut shares of Snap from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Snap presently has a consensus rating of “Hold” and a consensus price target of $36.87.

Institutional Trading of Snap

A number of hedge funds have recently made changes to their positions in the company. United Bank bought a new stake in shares of Snap in the third quarter worth $177,000. GSA Capital Partners LLP increased its stake in shares of Snap by 166.9% in the third quarter. GSA Capital Partners LLP now owns 68,150 shares of the company’s stock worth $729,000 after buying an additional 42,612 shares during the last quarter. Metis Global Partners LLC increased its stake in shares of Snap by 6.9% in the third quarter. Metis Global Partners LLC now owns 19,352 shares of the company’s stock worth $207,000 after buying an additional 1,255 shares during the last quarter. OneDigital Investment Advisors LLC bought a new stake in shares of Snap in the third quarter worth $122,000. Finally, CIBC Asset Management Inc increased its stake in shares of Snap by 5.1% in the third 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.

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.