Derek Andersen Sells 61,334 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP - Get Free Report) CFO Derek Andersen sold 61,334 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $664,860.56. Following the sale, the chief financial officer now owns 3,564,235 shares in the company, valued at approximately $38,636,307.40. This trade represents a 1.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, December 18th, Derek Andersen sold 17,789 shares of Snap stock. The shares were sold at an average price of $12.00, for a total value of $213,468.00.
• On Monday, December 16th, Derek Andersen sold 94,164 shares of Snap stock. The shares were sold at an average price of $11.44, for a total value of $1,077,236.16.

Snap Stock Up 1.7 %

NYSE SNAP traded up $0.18 during mid-day trading on Monday, reaching $10.52. 12,454,282 shares of the company's stock traded hands, compared to its average volume of 30,467,334. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.33. The company has a fifty day simple moving average of $11.19 and a 200-day simple moving average of $10.77. The company has a market cap of $17.84 billion, a price-to-earnings ratio of -24.99 and a beta of 0.99.

Snap (NYSE:SNAP - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.01 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%. As a group, equities research analysts expect that Snap Inc. will post -0.3 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SNAP. International Assets Investment Management LLC grew its stake in Snap by 3,391.5% in the third quarter. International Assets Investment Management LLC now owns 24,685 shares of the company's stock worth $264,000 after purchasing an additional 23,978 shares in the last quarter. Forsta AP Fonden lifted its holdings in Snap by 15.0% during the 3rd quarter. Forsta AP Fonden now owns 236,600 shares of the company's stock worth $2,532,000 after buying an additional 30,900 shares during the last quarter. PFG Investments LLC grew its position in shares of Snap by 80.3% in the 3rd quarter. PFG Investments LLC now owns 49,271 shares of the company's stock worth $527,000 after acquiring an additional 21,950 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Snap by 20.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,323 shares of the company's stock valued at $153,000 after acquiring an additional 2,395 shares during the last quarter. Finally, Trajan Wealth LLC raised its position in shares of Snap by 24.8% during the 3rd quarter. Trajan Wealth LLC now owns 19,059 shares of the company's stock valued at $204,000 after acquiring an additional 3,792 shares in the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Citizens Jmp downgraded shares of Snap from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 5th. Royal Bank of Canada reissued a "sector perform" rating and set a $16.00 price objective on shares of Snap in a research note on Wednesday, October 30th. Wells Fargo & Company downgraded Snap from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $15.00 to $11.00 in a report on Wednesday, February 5th. Loop Capital lifted their target price on Snap from $14.00 to $16.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Finally, JMP Securities restated a "market outperform" rating and set a $16.00 price target on shares of Snap in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $36.87.

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.