Insider Selling: Snap (NYSE:SNAP) CFO Sells 23,715 Shares of Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 23,715 shares of Snap stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $7.83, for a total value of $185,688.45. Following the completion of the transaction, the chief financial officer owned 2,972,051 shares of the company’s stock, valued at $23,271,159.33. The trade was a 0.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• 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.
• On Monday, November 17th, Derek Andersen sold 62,868 shares of Snap stock. The stock was sold at an average price of $8.34, for a total transaction of $524,319.12.
• On Friday, November 14th, Derek Andersen sold 16,412 shares of Snap stock. The shares were sold at an average price of $8.40, for a total transaction of $137,860.80.

Snap Stock Down 3.0%

Shares of SNAP traded down $0.23 during midday trading on Friday, reaching $7.53. The stock had a trading volume of 38,442,237 shares, compared to its average volume of 33,360,028. The company has a market cap of $12.95 billion, a price-to-earnings ratio of -25.96 and a beta of 0.81. The company’s fifty day simple moving average is $7.95 and its two-hundred day simple moving average is $8.10. Snap Inc. has a 1-year low of $6.90 and a 1-year high of $11.77. The company has a debt-to-equity ratio of 1.57, a current ratio of 3.67 and a quick ratio of 3.67.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). Snap had a negative return on equity of 21.61% and a negative net margin of 8.60%.The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period last year, the firm earned ($0.09) earnings per share. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts expect that Snap Inc. will post -0.3 earnings per share for the current year.

Institutional Investors Weigh In On Snap

Several large investors have recently modified their holdings of SNAP. Allworth Financial LP lifted its stake in shares of Snap by 92.3% in the 3rd quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock worth $25,000 after acquiring an additional 1,581 shares during the period. Signaturefd LLC increased its stake in shares of Snap by 169.9% during the second quarter. Signaturefd LLC now owns 2,942 shares of the company’s stock worth $26,000 after acquiring an additional 1,852 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Snap during the third quarter worth about $33,000. Banque Cantonale Vaudoise acquired a new stake in Snap in the third quarter valued at about $39,000. Finally, Grey Fox Wealth Advisors LLC acquired a new stake in Snap in the third quarter valued at about $53,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Analyst Upgrades and Downgrades

SNAP has been the topic of several research analyst reports. New Street Research lowered shares of Snap from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 28th. Susquehanna reiterated a “neutral” rating and set a $9.00 target price on shares of Snap in a research report on Thursday, November 6th. BNP Paribas Exane began coverage on Snap in a research report on Wednesday. They issued an “underperform” rating and a $8.00 target price for the company. Wells Fargo & Company raised their price target on Snap from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 6th. Finally, Arete Research upgraded Snap from a “sell” rating to a “neutral” rating in a research note on Tuesday, November 18th. Three investment analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $9.86.

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.