Insider Selling: Snap Inc. (NYSE:SNAP) CFO Sells 33,618 Shares of Stock

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

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 value of $194,937.60.
• 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 value 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 %

NYSE:SNAP opened at $8.73 on Wednesday. The firm has a market capitalization of $14.80 billion, a PE 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. The stock has a 50 day moving average of $10.56 and a 200-day moving average of $10.80.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 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%. Analysts predict that Snap Inc. will post -0.3 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on SNAP. Wells Fargo & Company lowered shares of Snap from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $15.00 to $11.00 in a research report on Wednesday, February 5th. JPMorgan Chase & Co. lowered their price target on Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating and issued a $640.00 price objective on shares of Snap in a report on Thursday, December 5th. JMP Securities restated a “market outperform” rating and set a $16.00 target price on shares of Snap in a report on Monday, January 27th. Finally, Susquehanna upped their price target on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. One equities research 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’s stock. According to MarketBeat, Snap has an average rating of “Hold” and an average target price of $36.87.

Institutional Trading of Snap

Large investors have recently modified their holdings of the company. Mountain Hill Investment Partners Corp. acquired a new position in Snap during the 4th quarter valued at about $27,000. Advisors Asset Management Inc. raised its holdings in shares of Snap by 141.9% during the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after buying an additional 1,632 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Snap during the fourth quarter worth approximately $30,000. Comprehensive Financial Planning Inc. PA bought a new position in Snap in the 4th quarter worth approximately $32,000. Finally, Brooklyn Investment Group acquired a new stake in Snap in the 3rd quarter valued at approximately $41,000. Institutional investors and hedge funds 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.