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

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

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 0.7 %

SNAP opened at $11.30 on Friday. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.75. The firm has a 50-day moving average price of $11.40 and a two-hundred day moving average price of $11.98. The stock has a market capitalization of $18.95 billion, a PE ratio of -19.48 and a beta of 0.97. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63.

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

Hedge Funds Weigh In On Snap

Large investors have recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in Snap during the 3rd quarter worth about $29,000. Paladin Wealth LLC bought a new position in shares of Snap in the 3rd quarter valued at about $30,000. Advisors Asset Management Inc. grew its position in shares of Snap by 141.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after buying an additional 1,632 shares during the period. Hollencrest Capital Management bought a new stake in shares of Snap during the second quarter worth approximately $33,000. Finally, Blue Trust Inc. lifted its holdings in 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 buying an additional 1,682 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

SNAP has been the subject of several research reports. JMP Securities reduced their target price 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. Needham & Company LLC reissued a “buy” rating and set a $640.00 price objective on shares of Snap in a report on Thursday, December 5th. The Goldman Sachs Group boosted their price objective on Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Wells Fargo & Company reduced their target price 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, Loop Capital boosted their price target on shares of Snap from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $37.10.

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.