Derek Andersen Sells 97,608 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 97,608 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $9.29, for a total value of $906,778.32. Following the completion of the transaction, the chief financial officer now owns 2,287,970 shares of the company’s stock, valued at approximately $21,255,241.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Snap Price Performance

SNAP traded up $0.25 during midday trading on Wednesday, hitting $9.67. The stock had a trading volume of 32,502,632 shares, compared to its average volume of 27,445,320. Snap Inc. has a 1 year low of $8.28 and a 1 year high of $17.90. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. The business has a fifty day moving average of $10.97 and a 200 day moving average of $12.85. The company has a market cap of $15.87 billion, a P/E ratio of -11.89 and a beta of 1.01.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. As a group, equities analysts forecast that Snap Inc. will post -0.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Marshall Wace LLP lifted its stake in shares of Snap by 587.3% in the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock valued at $243,629,000 after acquiring an additional 12,533,653 shares during the last quarter. SRS Investment Management LLC lifted its position in Snap by 23.6% in the fourth quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock valued at $1,102,392,000 after purchasing an additional 12,452,415 shares during the last quarter. Carmignac Gestion bought a new stake in Snap in the fourth quarter valued at approximately $110,103,000. Contrarius Investment Management Ltd purchased a new stake in shares of Snap during the fourth quarter valued at approximately $80,644,000. Finally, Vanguard Group Inc. grew its holdings in shares of Snap by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock worth $1,613,729,000 after purchasing an additional 3,503,230 shares during the last quarter. 47.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. HSBC downgraded shares of Snap from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. JMP Securities reissued a “market perform” rating on shares of Snap in a research report on Wednesday. Benchmark reiterated a “hold” rating on shares of Snap in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $14.00 target price on shares of Snap in a research report on Wednesday. Finally, Citigroup dropped their price target on Snap from $16.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, twenty-three have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $13.87.

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.