Snap Inc. (NYSE:SNAP) CFO Derek Andersen Sells 94,164 Shares

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 94,164 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $11.44, for a total transaction of $1,077,236.16. Following the transaction, the chief financial officer now owns 2,193,806 shares of the company’s stock, valued at approximately $25,097,140.64. This trade represents a 4.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• 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 Stock Up 0.4 %

Snap stock opened at $11.22 on Thursday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.75. The firm’s fifty day simple moving average is $11.39 and its 200-day simple moving average is $11.99. The company has a market capitalization of $18.82 billion, a P/E ratio of -19.34 and a beta of 0.97.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business’s revenue was up 15.4% compared to the same quarter last year. During the same period last year, the company earned ($0.21) earnings per share. Sell-side analysts forecast that Snap Inc. will post -0.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SNAP shares. UBS Group lifted their price target on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. B. Riley lifted their target price on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Piper Sandler reaffirmed a “neutral” rating and set a $13.00 target price (up from $12.00) on shares of Snap in a research report on Wednesday, October 30th. JMP Securities decreased their price target on Snap from $17.00 to $16.00 and set a “market outperform” rating for the company in a research report on Wednesday, October 30th. Finally, Loop Capital boosted their price objective on Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $37.10.

Institutional Investors Weigh In On Snap

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP lifted its position in Snap by 587.3% during the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock worth $243,629,000 after acquiring an additional 12,533,653 shares during the last quarter. TB Alternative Assets Ltd. increased its stake in shares of Snap by 105.6% in the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after purchasing an additional 4,098,847 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Snap by 62.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after purchasing an additional 2,386,519 shares during the last quarter. Discovery Capital Management LLC CT acquired a new position in shares of Snap during the 2nd quarter worth about $22,591,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Snap by 49.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock valued at $41,842,000 after purchasing an additional 1,297,348 shares during the period. 47.52% of the stock is currently owned by institutional investors and hedge funds.

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.