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 stock in a transaction on Friday, March 14th. The shares were sold at an average price of $8.58, for a total value of $194,937.60. Following the completion of the sale, the chief financial officer now owns 3,541,515 shares in the company, valued at approximately $30,386,198.70. This trade represents a 0.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 value of $664,860.56.
• 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 value of $213,468.00.

Snap Stock Up 3.7 %

SNAP stock opened at $9.06 on Thursday. The stock’s 50 day moving average is $10.56 and its 200-day moving average is $10.80. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.33. The firm has a market capitalization of $15.36 billion, a PE ratio of -21.56 and a beta of 0.92. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share (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%. Sell-side analysts expect that Snap Inc. will post -0.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on SNAP shares. Barclays reiterated an “overweight” rating on shares of Snap in a research report on Wednesday, February 5th. Susquehanna raised their price target on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price objective on shares of Snap in a report on Thursday, December 5th. Guggenheim cut shares of Snap from a “buy” rating to a “neutral” rating in a report on Tuesday, February 11th. Finally, Wells Fargo & Company cut Snap from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $15.00 to $11.00 in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $36.87.

Institutional Investors Weigh In On Snap

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital International Investors bought a new position in shares of Snap in the fourth quarter valued at approximately $422,049,000. Capital World Investors boosted its position in Snap by 38.9% in the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock worth $906,161,000 after purchasing an additional 23,569,522 shares during the last quarter. Norges Bank bought a new position in Snap in the 4th quarter valued at $30,162,000. Renaissance Technologies LLC purchased a new stake in shares of Snap during the 4th quarter valued at $27,713,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Snap by 62.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after purchasing an additional 2,386,519 shares during the period. Hedge funds and other institutional investors own 47.52% of the company’s stock.

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.