Insider Selling: Snap Inc. (NYSE:SNAP) CFO Sells 61,334 Shares of Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 61,334 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $664,860.56. Following the completion of the transaction, the chief financial officer now directly owns 3,564,235 shares in the company, valued at $38,636,307.40. The trade was a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 stock was 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 stock was sold at an average price of $11.44, for a total value of $1,077,236.16.

Snap Price Performance

SNAP stock traded down $0.11 during trading on Thursday, hitting $10.68. The company had a trading volume of 15,947,716 shares, compared to its average volume of 31,435,543. The company has a fifty day moving average price of $11.21 and a two-hundred day moving average price of $10.73. 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 fifty-two week low of $8.29 and a fifty-two week high of $17.33. The company has a market cap of $18.11 billion, a P/E ratio of -25.42 and a beta of 0.99.

Snap (NYSE:SNAP) last issued its quarterly earnings data 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 expect that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Cantor Fitzgerald lifted their price target on Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Citigroup lifted their price target on Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $16.00 price target (down from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $16.00 price target on shares of Snap in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group lifted their price target on Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $36.87.

Hedge Funds Weigh In On Snap

Several institutional investors have recently bought and sold shares of SNAP. Mountain Hill Investment Partners Corp. bought a new position in Snap in the 4th quarter valued at $27,000. Advisors Asset Management Inc. raised its position in Snap by 141.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after purchasing an additional 1,632 shares during the last quarter. Raiffeisen Bank International AG bought a new position in Snap in the 4th quarter valued at $30,000. Comprehensive Financial Planning Inc. PA bought a new position in Snap in the 4th quarter valued at $32,000. Finally, Brooklyn Investment Group bought a new position in Snap in the 3rd quarter valued at $41,000. Institutional investors own 47.52% of the company’s stock.

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.