Snap (NYSE:SNAP) CFO Derek Andersen Sells 63,041 Shares

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 63,041 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $4.70, for a total value of $296,292.70. Following the transaction, the chief financial officer directly owned 3,892,617 shares in the company, valued at $18,295,299.90. This represents a 1.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, January 14th, Derek Andersen sold 23,715 shares of Snap stock. The stock was sold at an average price of $7.83, for a total value of $185,688.45.
• On Tuesday, December 16th, Derek Andersen sold 34,535 shares of Snap stock. The shares were sold at an average price of $7.21, for a total transaction of $248,997.35.

Snap Stock Performance

NYSE:SNAP traded up $0.11 on Thursday, reaching $4.99. 45,997,016 shares of the company’s stock were exchanged, compared to its average volume of 58,450,742. The firm has a market cap of $8.43 billion, a price-to-earnings ratio of -18.48 and a beta of 0.83. The company has a debt-to-equity ratio of 1.53, a current ratio of 3.56 and a quick ratio of 3.56. The stock has a fifty day simple moving average of $7.13 and a 200-day simple moving average of $7.56. Snap Inc. has a 52 week low of $4.65 and a 52 week high of $10.83.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). Snap had a negative net margin of 7.76% and a negative return on equity of 20.72%. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the previous year, the company posted $0.01 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, sell-side analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.

Hedge Funds Weigh In On Snap

Several institutional investors have recently modified their holdings of the company. Alyeska Investment Group L.P. purchased a new stake in shares of Snap in the 3rd quarter valued at $176,697,000. AQR Capital Management LLC lifted its stake in Snap by 874.3% in the fourth quarter. AQR Capital Management LLC now owns 10,066,852 shares of the company’s stock worth $81,239,000 after purchasing an additional 9,033,644 shares during the last quarter. Junto Capital Management LP purchased a new stake in Snap during the third quarter valued at about $29,071,000. Voloridge Investment Management LLC grew its stake in shares of Snap by 53.3% during the third quarter. Voloridge Investment Management LLC now owns 10,300,911 shares of the company’s stock valued at $79,420,000 after buying an additional 3,582,223 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Snap by 537.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,150,134 shares of the company’s stock worth $33,492,000 after buying an additional 3,499,578 shares during the period. 47.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SNAP has been the topic of a number of recent research reports. Sanford C. Bernstein reissued a “market perform” rating and set a $8.00 price objective on shares of Snap in a report on Thursday, February 5th. Guggenheim reissued a “neutral” rating and issued a $6.50 price target on shares of Snap in a report on Thursday, February 5th. JPMorgan Chase & Co. reduced their price objective on shares of Snap from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Thursday, February 5th. Evercore reaffirmed a “mixed” rating on shares of Snap in a report on Thursday, February 5th. Finally, Bank of America raised shares of Snap from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-one have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $8.43.

About Snap

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.