Snap Inc. (NYSE:SNAP) CFO Sells $664,860.56 in Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 61,334 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $664,860.56. Following the completion of the transaction, the chief financial officer now directly owns 3,564,235 shares in the company, valued at $38,636,307.40. The trade was a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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.
• On Monday, December 16th, Derek Andersen sold 94,164 shares of Snap stock. The stock was sold at an average price of $11.44, for a total transaction of $1,077,236.16.

Snap Stock Down 3.1 %

Shares of SNAP opened at $10.35 on Friday. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.33. The firm’s 50 day moving average is $11.19 and its 200-day moving average is $10.74. The stock has a market capitalization of $17.55 billion, a PE ratio of -24.63 and a beta of 0.99. 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%. Equities research analysts forecast that Snap Inc. will post -0.3 EPS for the current year.

Institutional Trading of Snap

Large investors have recently made changes to their positions in the company. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Snap during the 4th quarter worth approximately $27,000. Advisors Asset Management Inc. lifted 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 worth $30,000 after purchasing an additional 1,632 shares during the period. Raiffeisen Bank International AG acquired a new position in shares of Snap during the fourth quarter worth $30,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Snap during the fourth quarter worth $32,000. Finally, Brooklyn Investment Group bought a new position in Snap during the third quarter worth $41,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SNAP shares. Piper Sandler restated a “neutral” rating and issued a $13.00 price objective (up previously from $12.00) on shares of Snap in a research report on Wednesday, October 30th. Citigroup boosted their price objective on shares of Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $16.00 price objective on shares of Snap in a research report on Wednesday, October 30th. JMP Securities reiterated a “market outperform” rating and set a $16.00 target price on shares of Snap in a research report on Monday, January 27th. Finally, Citizens Jmp cut shares of Snap from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $36.87.

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.