Snap Inc. (NYSE:SNAP) CFO Derek Andersen Sells 17,789 Shares

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 17,789 shares of Snap stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $12.00, for a total value of $213,468.00. Following the completion of the sale, the chief financial officer now directly owns 2,176,017 shares in the company, valued at approximately $26,112,204. This represents a 0.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Monday, December 16th, Derek Andersen sold 94,164 shares of Snap stock. The stock was sold at an average price of $11.44, for a total transaction of $1,077,236.16.

Snap Stock Up 0.9 %

SNAP stock opened at $11.40 on Friday. The business’s fifty day moving average price is $11.41 and its two-hundred day moving average price is $11.95. The stock has a market capitalization of $19.12 billion, a price-to-earnings ratio of -19.65 and a beta of 0.97. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.75. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04.

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on SNAP. Piper Sandler restated a “neutral” rating and set a $13.00 target price (up previously from $12.00) on shares of Snap in a report on Wednesday, October 30th. Truist Financial increased their price objective on shares of Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Loop Capital lifted their target price on Snap from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Wells Fargo & Company reduced their price target on Snap from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $14.00 price target on shares of Snap in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Snap presently has an average rating of “Hold” and a consensus target price of $37.10.

Institutional Investors Weigh In On Snap

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC increased its position in shares of Snap by 37.3% in the third quarter. Sanctuary Advisors LLC now owns 82,143 shares of the company’s stock worth $938,000 after purchasing an additional 22,328 shares during the period. Geode Capital Management LLC grew its stake in Snap by 5.2% during the third quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company’s stock worth $124,742,000 after buying an additional 575,324 shares in the last quarter. Groupama Asset Managment bought a new position in Snap in the 3rd quarter valued at about $13,032,000. MML Investors Services LLC raised its position in shares of Snap by 6.8% in the 3rd quarter. MML Investors Services LLC now owns 25,245 shares of the company’s stock valued at $270,000 after buying an additional 1,614 shares in the last quarter. Finally, Orion Portfolio Solutions LLC bought a new stake in shares of Snap during the 3rd quarter worth approximately $149,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

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.