Snap Inc. (NYSE:SNAP) CFO Derek Andersen Sells 208,525 Shares

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 208,525 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $9.03, for a total transaction of $1,882,980.75. Following the completion of the sale, the chief financial officer now directly owns 3,299,372 shares in the company, valued at approximately $29,793,329.16. This represents a 5.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Friday, May 16th, Derek Andersen sold 61,068 shares of Snap stock. The shares were sold at an average price of $8.60, for a total transaction of $525,184.80.
• 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 Friday, March 14th, Derek Andersen sold 22,720 shares of Snap stock. The shares were 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 shares were sold at an average price of $10.84, for a total transaction of $664,860.56.

Snap Stock Performance

SNAP stock opened at $8.74 on Friday. The firm has a market cap of $14.60 billion, a price-to-earnings ratio of -20.81 and a beta of 0.61. The firm has a 50-day simple moving average of $8.48 and a two-hundred day simple moving average of $10.25. Snap Inc. has a one year low of $7.08 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 released its quarterly earnings results on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.12). The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 earnings per share. On average, equities analysts forecast that Snap Inc. will post -0.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SNAP shares. JMP Securities set a $12.00 price target on shares of Snap in a report on Friday, April 25th. The Goldman Sachs Group cut their price target on shares of Snap from $9.50 to $8.50 and set a “neutral” rating on the stock in a report on Wednesday, April 30th. Cantor Fitzgerald set a $7.00 price target on shares of Snap and gave the stock a “neutral” rating in a report on Wednesday, April 30th. Citizens Jmp upgraded shares of Snap from a “hold” rating to a “strong-buy” rating in a report on Friday, March 28th. Finally, JPMorgan Chase & Co. cut their price target on shares of Snap from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $35.62.

Hedge Funds Weigh In On Snap

Hedge funds and other institutional investors have recently modified their holdings of the stock. NBC Securities Inc. raised its position in shares of Snap by 154,650.0% in the 1st quarter. NBC Securities Inc. now owns 3,095 shares of the company’s stock valued at $26,000 after purchasing an additional 3,093 shares during the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in shares of Snap in the 4th quarter valued at approximately $27,000. Raiffeisen Bank International AG purchased a new position in shares of Snap in the 4th quarter valued at approximately $30,000. Rakuten Securities Inc. raised its position in shares of Snap by 155.4% in the 1st quarter. Rakuten Securities Inc. now owns 3,489 shares of the company’s stock valued at $30,000 after purchasing an additional 2,123 shares during the last quarter. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in shares of Snap in the 4th quarter valued at approximately $32,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

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.