Snap Inc. (NYSE:SNAP) CFO Sells $213,468.00 in Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 17,789 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $12.00, for a total value of $213,468.00. Following the completion of the sale, the chief financial officer now owns 2,176,017 shares of the company’s stock, valued at $26,112,204. The trade was a 0.81 % 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 Monday, December 16th, Derek Andersen sold 94,164 shares of Snap stock. The shares were sold at an average price of $11.44, for a total value of $1,077,236.16.

Snap Stock Up 0.4 %

Shares of SNAP opened at $11.22 on Thursday. The stock has a 50 day moving average price of $11.39 and a 200 day moving average price of $11.99. Snap Inc. has a one year low of $8.29 and a one year high of $17.75. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. The stock has a market capitalization of $18.82 billion, a price-to-earnings ratio of -19.34 and a beta of 0.97.

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

Institutional Trading of Snap

A number of hedge funds have recently bought and sold shares of SNAP. Hollencrest Capital Management acquired a new position in shares of Snap during the 2nd quarter worth approximately $33,000. Blue Trust Inc. increased its holdings in shares of Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after purchasing an additional 1,682 shares during the last quarter. Rothschild Investment LLC purchased a new position in Snap during the second quarter worth approximately $40,000. V Square Quantitative Management LLC acquired a new position in Snap during the third quarter worth $29,000. Finally, Paladin Wealth LLC purchased a new stake in Snap in the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SNAP shares. Guggenheim restated a “buy” rating and set a $12.11 price target on shares of Snap in a research note on Tuesday, December 3rd. JMP Securities reduced their price objective on shares of Snap from $17.00 to $16.00 and set a “market outperform” rating for the company in a research note on Wednesday, October 30th. Piper Sandler reaffirmed a “neutral” rating and set a $13.00 target price (up previously from $12.00) on shares of Snap in a research report on Wednesday, October 30th. Wells Fargo & Company reduced their price target on Snap from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. Finally, The Goldman Sachs Group increased their price target on shares of Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Snap currently has an average rating of “Hold” and a consensus price target of $37.10.

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.