Snap Inc. (NYSE:SNAP) CFO Sells $296,846.94 in Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 33,618 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $8.83, for a total transaction of $296,846.94. Following the completion of the sale, the chief financial officer now directly owns 3,507,897 shares of the company’s stock, valued at $30,974,730.51. This represents a 0.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Friday, March 14th, Derek Andersen sold 22,720 shares of Snap stock. The shares were sold at an average price of $8.58, for a total transaction of $194,937.60.
• 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 stock was sold at an average price of $12.00, for a total value of $213,468.00.

Snap Price Performance

Snap stock opened at $9.06 on Thursday. 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 company has a fifty day simple moving average of $10.56 and a 200-day simple moving average of $10.80. The stock has a market cap of $15.36 billion, a P/E ratio of -21.56 and a beta of 0.92. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.33.

Snap (NYSE:SNAP) last announced its quarterly earnings results 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 return on equity of 25.67% and a negative net margin of 13.02%. Equities analysts expect that Snap Inc. will post -0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Snap

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital World Investors raised its holdings in Snap by 38.9% during the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock worth $906,161,000 after purchasing an additional 23,569,522 shares in the last quarter. SRS Investment Management LLC grew its position in shares of Snap by 1.4% in the 4th quarter. SRS Investment Management LLC now owns 73,723,115 shares of the company’s stock valued at $793,998,000 after buying an additional 1,001,632 shares during the last quarter. Capital International Investors acquired a new stake in Snap during the 4th quarter worth $422,049,000. Geode Capital Management LLC lifted its position in Snap by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 11,831,472 shares of the company’s stock valued at $127,078,000 after acquiring an additional 134,017 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Snap by 13.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,075,318 shares of the company’s stock valued at $76,201,000 after acquiring an additional 828,285 shares in the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on SNAP shares. BMO Capital Markets reaffirmed an “outperform” rating and issued a $16.00 price target (down previously from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Guggenheim lowered shares of Snap from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 11th. Barclays reissued an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 price objective on shares of Snap in a research report on Thursday, December 5th. Finally, Bank of America lifted their target price on shares of Snap from $14.00 to $14.50 and gave the company a “neutral” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.