Snap (NYSE:SNAP) CFO Derek Andersen Sells 34,535 Shares

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 34,535 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $7.21, for a total value of $248,997.35. Following the transaction, the chief financial officer owned 2,995,766 shares of the company’s stock, valued at approximately $21,599,472.86. The trade was a 1.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 Trading Up 1.4%

Snap stock traded up $0.10 during trading hours on Wednesday, hitting $7.47. The company had a trading volume of 61,684,349 shares, compared to its average volume of 51,862,461. The company has a debt-to-equity ratio of 1.57, a quick ratio of 3.67 and a current ratio of 3.67. The firm has a market cap of $12.85 billion, a P/E ratio of -25.77 and a beta of 0.85. The company has a 50-day moving average price of $7.89 and a two-hundred day moving average price of $8.15. Snap Inc. has a 1 year low of $6.90 and a 1 year high of $13.28.

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

Institutional Trading of Snap

A number of institutional investors have recently modified their holdings of the company. Nuveen LLC purchased a new stake in Snap during the first quarter valued at approximately $1,675,000. Corient IA LLC acquired a new position in shares of Snap during the first quarter worth $131,000. Algert Global LLC purchased a new stake in shares of Snap during the 1st quarter valued at $344,000. Korea Investment CORP lifted its holdings in shares of Snap by 70.1% during the 1st quarter. Korea Investment CORP now owns 855,374 shares of the company’s stock valued at $7,450,000 after purchasing an additional 352,379 shares during the last quarter. Finally, Credit Agricole S A boosted its position in shares of Snap by 30.0% in the 1st quarter. Credit Agricole S A now owns 77,581 shares of the company’s stock worth $676,000 after purchasing an additional 17,921 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SNAP shares. Citigroup upped their target price on Snap from $8.50 to $10.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Stifel Nicolaus set a $7.00 price objective on shares of Snap in a research note on Thursday, November 6th. Rosenblatt Securities increased their target price on shares of Snap from $8.70 to $9.50 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Truist Financial boosted their price target on shares of Snap from $10.00 to $11.00 and gave the company a “hold” rating in a report on Friday, November 7th. Finally, Morgan Stanley lowered their price target on shares of Snap from $8.50 to $8.00 and set an “equal weight” rating for the company in a research report on Monday, October 20th. Three investment analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.85.

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.