Derek Andersen Sells 97,608 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 97,608 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $9.29, for a total value of $906,778.32. Following the sale, the chief financial officer now directly owns 2,287,970 shares of the company’s stock, valued at $21,255,241.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Snap Trading Up 4.2 %

NYSE:SNAP opened at $10.08 on Friday. The company has a market cap of $16.73 billion, a P/E ratio of -12.44 and a beta of 1.00. The stock’s fifty day moving average price is $10.70 and its two-hundred day moving average price is $12.81. Snap Inc. has a 1 year low of $8.28 and a 1 year high of $17.90. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98.

Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. As a group, analysts expect that Snap Inc. will post -0.48 EPS for the current year.

Wall Street Analyst Weigh In

SNAP has been the subject of a number of recent research reports. HSBC lowered Snap from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. The Goldman Sachs Group cut their target price on Snap from $16.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Roth Mkm restated a “neutral” rating and issued a $14.00 target price on shares of Snap in a research note on Wednesday. Hsbc Global Res downgraded Snap from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Susquehanna cut their target price on Snap from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Snap has a consensus rating of “Hold” and a consensus price target of $13.87.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SNAP. Gryphon Financial Partners LLC bought a new position in shares of Snap in the fourth quarter worth $204,000. Dimensional Fund Advisors LP increased its holdings in shares of Snap by 19.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,184,684 shares of the company’s stock worth $36,992,000 after purchasing an additional 351,837 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Snap by 12.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 40,341 shares of the company’s stock worth $683,000 after purchasing an additional 4,307 shares during the period. Trexquant Investment LP bought a new position in shares of Snap in the fourth quarter worth $8,399,000. Finally, BNP Paribas Asset Management Holding S.A. increased its stake in Snap by 14.5% in the fourth quarter. BNP Paribas Asset Management Holding S.A. now owns 141,245 shares of the company’s stock valued at $2,391,000 after acquiring an additional 17,863 shares during the last quarter. Institutional investors own 47.52% of the company’s stock.

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.