Snap Inc. (NYSE:SNAP) CFO Derek Andersen Sells 61,334 Shares of Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 61,334 shares of the stock in a transaction on Tuesday, February 18th. The shares were 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 approximately $38,636,307.40. This trade represents a 1.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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 value of $213,468.00.
• On Monday, December 16th, Derek Andersen sold 94,164 shares of Snap stock. The shares were sold at an average price of $11.44, for a total value of $1,077,236.16.

Snap Price Performance

Snap stock opened at $10.68 on Friday. The firm has a 50-day moving average of $11.21 and a 200-day moving average of $10.73. Snap Inc. has a one year low of $8.29 and a one year high of $17.33. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95.

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

Hedge Funds Weigh In On Snap

A number of large investors have recently modified their holdings of SNAP. International Assets Investment Management LLC lifted its stake in Snap by 3,391.5% in the 3rd quarter. International Assets Investment Management LLC now owns 24,685 shares of the company’s stock valued at $264,000 after purchasing an additional 23,978 shares during the last quarter. Forsta AP Fonden lifted its stake in Snap by 15.0% in the 3rd quarter. Forsta AP Fonden now owns 236,600 shares of the company’s stock valued at $2,532,000 after purchasing an additional 30,900 shares during the last quarter. PFG Investments LLC lifted its stake in Snap by 80.3% in the 3rd quarter. PFG Investments LLC now owns 49,271 shares of the company’s stock valued at $527,000 after purchasing an additional 21,950 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Snap by 20.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,323 shares of the company’s stock valued at $153,000 after purchasing an additional 2,395 shares during the last quarter. Finally, Trajan Wealth LLC lifted its stake in Snap by 24.8% in the 3rd quarter. Trajan Wealth LLC now owns 19,059 shares of the company’s stock valued at $204,000 after purchasing an additional 3,792 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SNAP has been the subject of a number of recent analyst reports. Citigroup upped their price objective on shares of Snap from $13.00 to $13.50 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Evercore ISI upped their price objective on shares of Snap from $12.00 to $15.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. 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. Truist Financial upped their price objective on shares of Snap from $13.00 to $14.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Finally, Guggenheim cut shares of Snap from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 11th. One investment 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $36.87.

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.