Snap Inc. (NYSE:SNAP) CFO Derek Andersen Sells 5,160 Shares

Snap Inc. (NYSE:SNAPGet Rating) CFO Derek Andersen sold 5,160 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $11.43, for a total value of $58,978.80. Following the completion of the transaction, the chief financial officer now owns 1,064,916 shares in the company, valued at approximately $12,171,989.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Monday, August 15th, Derek Andersen sold 3,276 shares of Snap stock. The shares were sold at an average price of $11.61, for a total value of $38,034.36.
  • On Monday, July 18th, Derek Andersen sold 8,316 shares of Snap stock. The stock was sold at an average price of $14.02, for a total transaction of $116,590.32.
  • On Friday, July 15th, Derek Andersen sold 1,622 shares of Snap stock. The shares were sold at an average price of $13.53, for a total transaction of $21,945.66.

Snap Price Performance

Shares of SNAP stock opened at $11.35 on Tuesday. The business’s fifty day moving average is $11.52 and its 200 day moving average is $19.93. The company has a quick ratio of 5.65, a current ratio of 5.65 and a debt-to-equity ratio of 1.09. The stock has a market cap of $18.72 billion, a price-to-earnings ratio of -21.83 and a beta of 0.97. Snap Inc. has a twelve month low of $9.34 and a twelve month high of $83.34.

Snap (NYSE:SNAPGet Rating) last released its earnings results on Thursday, July 21st. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04). Snap had a negative return on equity of 21.55% and a negative net margin of 18.31%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Research analysts expect that Snap Inc. will post -0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Snap

A number of institutional investors and hedge funds have recently made changes to their positions in SNAP. Vetamer Capital Management L.P. bought a new position in Snap during the 1st quarter valued at approximately $2,470,000. Covington Capital Management increased its holdings in shares of Snap by 134.9% during the second quarter. Covington Capital Management now owns 11,205 shares of the company’s stock valued at $147,000 after acquiring an additional 6,434 shares in the last quarter. CVA Family Office LLC increased its holdings in shares of Snap by 166.7% during the first quarter. CVA Family Office LLC now owns 1,224 shares of the company’s stock valued at $44,000 after acquiring an additional 765 shares in the last quarter. Park Avenue Securities LLC raised its position in shares of Snap by 25.8% in the 1st quarter. Park Avenue Securities LLC now owns 31,351 shares of the company’s stock worth $1,128,000 after purchasing an additional 6,437 shares during the last quarter. Finally, Shell Asset Management Co. boosted its stake in Snap by 5.1% in the 1st quarter. Shell Asset Management Co. now owns 40,043 shares of the company’s stock worth $1,441,000 after purchasing an additional 1,960 shares in the last quarter. Institutional investors own 51.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on SNAP shares. Evercore ISI increased their price objective on Snap from $14.00 to $17.00 and gave the stock an “in-line” rating in a report on Tuesday, September 13th. Benchmark reduced their price objective on shares of Snap from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, August 31st. Huber Research cut shares of Snap from an “overweight” rating to an “underweight” rating in a research note on Monday, June 6th. Deutsche Bank Aktiengesellschaft cut shares of Snap from a “buy” rating to a “hold” rating and decreased their price target for the stock from $25.00 to $14.00 in a report on Friday, July 22nd. Finally, Guggenheim cut Snap from a “buy” rating to a “neutral” rating and lowered their price target for the company from $18.00 to $12.00 in a report on Friday, July 22nd. Three equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.91.

Snap Company Profile

(Get Rating)

Snap Inc operates as a camera company in North America, Europe, and internationally. The company offers Snapchat, a camera application with various functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate visually through short videos and images.

See Also

Insider Buying and Selling by Quarter for Snap (NYSE:SNAP)

Receive News & Ratings for Snap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap and related companies with MarketBeat.com's FREE daily email newsletter.