Snap (NYSE:SNAP) CFO Derek Andersen Sells 92,956 Shares

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 92,956 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $4.59, for a total value of $426,668.04. Following the transaction, the chief financial officer owned 3,799,661 shares in the company, valued at approximately $17,440,443.99. This trade represents a 2.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, February 17th, Derek Andersen sold 63,041 shares of Snap stock. The shares were sold at an average price of $4.70, for a total transaction of $296,292.70.
• 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 transaction of $185,688.45.

Snap Price Performance

NYSE SNAP opened at $4.65 on Wednesday. Snap Inc. has a 1 year low of $4.52 and a 1 year high of $10.41. The company has a fifty day simple moving average of $6.06 and a 200 day simple moving average of $7.24. The company has a current ratio of 3.56, a quick ratio of 3.56 and a debt-to-equity ratio of 1.53. The company has a market cap of $7.85 billion, a P/E ratio of -17.20 and a beta of 0.83.

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

Wall Street Analyst Weigh In

SNAP has been the subject of several research analyst reports. Loop Capital set a $8.00 price objective on Snap in a research report on Monday, February 23rd. UBS Group reaffirmed a “buy” rating on shares of Snap in a report on Monday, February 23rd. Arete Research set a $7.30 price target on Snap and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Citigroup cut their price target on Snap from $10.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, February 12th. Finally, Rosenblatt Securities reduced their price objective on Snap from $9.50 to $6.40 and set a “neutral” rating for the company in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Snap presently has a consensus rating of “Hold” and a consensus price target of $8.17.

Institutional Investors Weigh In On Snap

Hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp grew its position in Snap by 5.1% during the third quarter. Mackenzie Financial Corp now owns 27,638 shares of the company’s stock worth $213,000 after buying an additional 1,349 shares in the last quarter. WealthCollab LLC raised its holdings in Snap by 1.2% in the 4th quarter. WealthCollab LLC now owns 115,390 shares of the company’s stock valued at $931,000 after acquiring an additional 1,369 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Snap by 0.3% in the 3rd quarter. Alliancebernstein L.P. now owns 414,416 shares of the company’s stock worth $3,195,000 after acquiring an additional 1,396 shares during the period. Orion Porfolio Solutions LLC grew its holdings in shares of Snap by 8.3% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 18,913 shares of the company’s stock worth $164,000 after purchasing an additional 1,451 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. grew its holdings in shares of Snap by 37.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 5,500 shares of the company’s stock worth $44,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

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.