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 business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $8.58, for a total value of $194,937.60. Following the transaction, the chief financial officer now directly owns 3,541,515 shares in the company, valued at $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 is available through the SEC website.

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 stock was 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 value of $213,468.00.

Snap Stock Down 2.9 %

SNAP stock opened at $8.73 on Wednesday. The firm’s 50-day moving average is $10.56 and its two-hundred day moving average is $10.80. The company has a market capitalization of $14.80 billion, a price-to-earnings ratio of -20.77 and a beta of 0.92. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.33. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. On average, analysts forecast that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Capital International Investors acquired a new stake in Snap in the 4th quarter valued at about $422,049,000. Capital World Investors lifted its stake in Snap by 38.9% during the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock valued at $906,161,000 after purchasing an additional 23,569,522 shares during the last quarter. Norges Bank bought a new stake in Snap during the fourth quarter worth approximately $30,162,000. Renaissance Technologies LLC acquired a new position in Snap in the fourth quarter worth approximately $27,713,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of 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 buying an additional 2,386,519 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price target on shares of Snap in a report on Thursday, December 5th. Wells Fargo & Company downgraded shares of Snap from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $15.00 to $11.00 in a research report on Wednesday, February 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $16.00 price target on shares of Snap in a report on Monday, January 27th. BMO Capital Markets reissued an “outperform” rating and issued a $16.00 target price (down previously from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Finally, Bank of America increased their price target on shares of Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a research 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 stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.