Insider Selling: Snap Inc. (NYSE:SNAP) CFO Sells $296,846.94 in Stock

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

Derek Andersen also recently made the following trade(s):

• On Friday, March 14th, Derek Andersen sold 22,720 shares of Snap stock. The stock was sold at an average price of $8.58, for a total transaction 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 transaction 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 transaction of $213,468.00.

Snap Stock Performance

Shares of NYSE SNAP opened at $9.24 on Friday. The company has a market cap of $15.67 billion, a PE ratio of -21.99 and a beta of 0.92. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.33. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. The company has a 50-day simple moving average of $10.44 and a 200-day simple moving average of $10.77.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (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%. On average, equities analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SNAP has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $640.00 target price on shares of Snap in a research note on Thursday, December 5th. Citigroup raised their price objective on shares of Snap from $13.00 to $13.50 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Barclays reiterated an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. JMP Securities reiterated a “market outperform” rating and issued a $16.00 price objective on shares of Snap in a research note on Monday, January 27th. Finally, Bank of America raised their price objective on shares of Snap from $14.00 to $14.50 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $36.87.

Institutional Investors Weigh In On Snap

Several hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its position in shares of Snap by 19.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 17,115 shares of the company’s stock worth $184,000 after acquiring an additional 2,792 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Snap in the fourth quarter worth approximately $3,838,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Snap in the fourth quarter worth approximately $5,135,000. B. Riley Wealth Advisors Inc. acquired a new position in Snap during the fourth quarter valued at approximately $225,000. Finally, Polar Asset Management Partners Inc. acquired a new position in Snap during the fourth quarter valued at approximately $4,924,000. 47.52% of the stock is owned by institutional investors and hedge funds.

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.