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 shares were 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 of the company’s stock, valued at approximately $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 at the SEC website.

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

• On Wednesday, December 18th, Derek Andersen sold 17,789 shares of Snap stock. The shares were sold at an average price of $12.00, for a total transaction of $213,468.00.

Snap Stock Performance

Shares of Snap stock opened at $11.40 on Friday. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.75. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The stock has a market cap of $19.12 billion, a PE ratio of -19.65 and a beta of 0.97. The business has a fifty day simple moving average of $11.41 and a 200-day simple moving average of $11.95.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the company posted ($0.21) EPS. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Snap Inc. will post -0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hollencrest Capital Management purchased a new stake in Snap in the 2nd quarter worth approximately $33,000. Blue Trust Inc. increased its stake in shares of Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after acquiring an additional 1,682 shares during the last quarter. Rothschild Investment LLC purchased a new stake in shares of Snap during the second quarter worth $40,000. V Square Quantitative Management LLC purchased a new position in Snap in the third quarter valued at about $29,000. Finally, Paladin Wealth LLC purchased a new position in Snap in the third quarter valued at about $30,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNAP has been the subject of several analyst reports. Benchmark reiterated a “hold” rating on shares of Snap in a research report on Friday, October 25th. Truist Financial increased their price target on Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Wells Fargo & Company cut their price objective on shares of Snap from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. UBS Group increased their target price on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $640.00 price target on shares of Snap in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price 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.