Derek Andersen Sells 22,720 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP - Get Free Report) CFO Derek Andersen sold 22,720 shares of the business's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $8.58, for a total value of $194,937.60. Following the completion of the sale, the chief financial officer now directly owns 3,541,515 shares in the company, valued at $30,386,198.70. This trade represents a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, March 17th, Derek Andersen sold 33,618 shares of Snap stock. The stock was sold at an average price of $8.83, for a total value of $296,846.94.
• On Tuesday, February 18th, Derek Andersen sold 61,334 shares of Snap stock. The shares were sold at an average price of $10.84, for a total transaction of $664,860.56.
• On Wednesday, December 18th, Derek Andersen sold 17,789 shares of Snap stock. The stock was sold at an average price of $12.00, for a total transaction of $213,468.00.

Snap Price Performance

NYSE:SNAP traded up $0.10 on Friday, reaching $9.33. 37,520,056 shares of the company's stock traded hands, compared to its average volume of 25,540,393. The stock has a 50-day simple moving average of $10.38 and a 200-day simple moving average of $10.77. Snap Inc. has a 12 month low of $8.29 and a 12 month high of $17.33. The firm has a market cap of $15.83 billion, a PE ratio of -22.22 and a beta of 0.92. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47.

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Snap (NYSE:SNAP - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. Equities research analysts forecast that Snap Inc. will post -0.3 earnings per share for the current year.

Hedge Funds Weigh In On Snap

A number of hedge funds and other institutional investors have recently modified their holdings of SNAP. United Bank purchased a new position in shares of Snap during the third quarter valued at about $177,000. GSA Capital Partners LLP grew its holdings in Snap by 166.9% during the 3rd quarter. GSA Capital Partners LLP now owns 68,150 shares of the company's stock valued at $729,000 after buying an additional 42,612 shares in the last quarter. Metis Global Partners LLC increased its stake in Snap by 6.9% in the 3rd quarter. Metis Global Partners LLC now owns 19,352 shares of the company's stock worth $207,000 after acquiring an additional 1,255 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new stake in shares of Snap during the 3rd quarter worth approximately $122,000. Finally, CIBC Asset Management Inc boosted its position in shares of Snap by 5.1% during the 3rd quarter. CIBC Asset Management Inc now owns 47,648 shares of the company's stock valued at $510,000 after acquiring an additional 2,326 shares during the last quarter. Institutional investors own 47.52% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Needham & Company LLC restated a "buy" rating and issued a $640.00 price objective on shares of Snap in a report on Thursday, December 5th. JPMorgan Chase & Co. decreased their price target on Snap from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Wednesday, February 5th. JMP Securities reaffirmed a "market outperform" rating and set a $16.00 price objective on shares of Snap in a research report on Monday, January 27th. BMO Capital Markets reissued an "outperform" rating and issued a $16.00 target price (down previously from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Finally, Wells Fargo & Company cut shares of Snap from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $15.00 to $11.00 in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $36.87.

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.