Derek Andersen Sells 17,789 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 17,789 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $12.00, for a total value of $213,468.00. Following the sale, the chief financial officer now directly owns 2,176,017 shares in the company, valued at $26,112,204. This trade represents a 0.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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

Shares of NYSE:SNAP traded up $0.04 during trading on Wednesday, hitting $11.22. 49,316,313 shares of the company were exchanged, compared to its average volume of 27,839,719. The company has a market capitalization of $18.82 billion, a P/E ratio of -19.34 and a beta of 0.97. 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 business’s 50 day moving average is $11.38 and its 200-day moving average is $11.99. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.75.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The firm’s revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.21) earnings per share. Equities analysts forecast that Snap Inc. will post -0.4 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. GraniteShares Advisors LLC lifted its holdings in Snap by 2.5% during the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock worth $634,000 after purchasing an additional 941 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in Snap by 4.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock valued at $448,000 after buying an additional 1,048 shares during the period. Metis Global Partners LLC raised its position in Snap by 6.9% during the 3rd quarter. Metis Global Partners LLC now owns 19,352 shares of the company’s stock valued at $207,000 after purchasing an additional 1,255 shares during the last quarter. Intech Investment Management LLC raised its holdings in Snap by 1.9% in the 3rd quarter. Intech Investment Management LLC now owns 77,592 shares of the company’s stock worth $830,000 after purchasing an additional 1,433 shares in the last quarter. Finally, MML Investors Services LLC raised its position in shares of Snap by 6.8% in the 3rd quarter. MML Investors Services LLC now owns 25,245 shares of the company’s stock worth $270,000 after acquiring an additional 1,614 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Analyst Upgrades and Downgrades

SNAP has been the topic of several research reports. Cantor Fitzgerald lifted their price objective on shares of Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised their price objective on Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Bank of America upped their price objective on Snap from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Citigroup increased their target price on shares of Snap from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, November 29th. Finally, JMP Securities reduced their price objective on shares of Snap from $17.00 to $16.00 and set a “market outperform” rating for the company in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $37.10.

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.