Derek Andersen Sells 94,164 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 94,164 shares of Snap stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $11.44, for a total value of $1,077,236.16. Following the transaction, the chief financial officer now owns 2,193,806 shares of the company’s stock, valued at $25,097,140.64. This trade represents a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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.

Snap Trading Up 0.4 %

Snap stock traded up $0.04 during trading hours on Wednesday, reaching $11.22. The stock had a trading volume of 49,316,313 shares, compared to its average volume of 27,839,719. The company has a fifty day simple moving average of $11.38 and a 200-day simple moving average of $11.99. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.75. The stock has a market cap of $18.82 billion, a PE ratio of -19.34 and a beta of 0.97. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. Snap’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period last year, the firm earned ($0.21) earnings per share. Analysts forecast that Snap Inc. will post -0.4 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on SNAP shares. Roth Mkm reiterated a “neutral” rating and issued a $14.00 price objective on shares of Snap in a research note on Wednesday, September 18th. Guggenheim reiterated a “buy” rating and set a $12.11 price target on shares of Snap in a report on Tuesday, December 3rd. Evercore ISI boosted their price objective on Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Bank of America raised their target price on Snap from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, B. Riley boosted their price target on shares of Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $37.10.

Hedge Funds Weigh In On Snap

Several hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its holdings in Snap by 62.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after acquiring an additional 2,386,519 shares in the last quarter. TB Alternative Assets Ltd. boosted its stake in shares of Snap by 105.6% during the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after purchasing an additional 4,098,847 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Snap during the third quarter valued at about $1,345,000. Invenomic Capital Management LP bought a new position in Snap in the third quarter worth about $2,349,000. Finally, Dynamic Advisor Solutions LLC purchased a new stake in Snap in the third quarter worth about $832,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

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.