Snap Inc. (NYSE:SNAP) CFO Sells $296,846.94 in Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 33,618 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $8.83, for a total transaction of $296,846.94. Following the completion of the sale, the chief financial officer now directly owns 3,507,897 shares in the company, valued at $30,974,730.51. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Friday, March 14th, Derek Andersen sold 22,720 shares of Snap stock. The shares were sold at an average price of $8.58, for a total transaction of $194,937.60.
• 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 shares were sold at an average price of $12.00, for a total transaction of $213,468.00.

Snap Stock Down 2.9 %

Shares of Snap stock traded down $0.27 during trading hours on Tuesday, hitting $8.73. The company had a trading volume of 25,157,896 shares, compared to its average volume of 25,410,513. The company’s 50-day moving average is $10.56 and its two-hundred day moving average is $10.80. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.33. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. The company has a market cap of $14.80 billion, a P/E ratio of -20.77 and a beta of 0.92.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. Analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Trading of Snap

A number of large investors have recently bought and sold shares of the business. Capital World Investors boosted its stake in Snap by 38.9% during the 4th quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock worth $906,161,000 after purchasing an additional 23,569,522 shares during the period. SRS Investment Management LLC boosted its stake in Snap by 1.4% during the 4th quarter. SRS Investment Management LLC now owns 73,723,115 shares of the company’s stock worth $793,998,000 after purchasing an additional 1,001,632 shares during the period. Capital International Investors acquired a new stake in Snap during the 4th quarter worth $422,049,000. Geode Capital Management LLC boosted its stake in Snap by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 11,831,472 shares of the company’s stock worth $127,078,000 after purchasing an additional 134,017 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Snap by 13.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,075,318 shares of the company’s stock worth $76,201,000 after acquiring an additional 828,285 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SNAP shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $16.00 target price (down from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Citizens Jmp downgraded shares of Snap from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Citigroup upped their target price on shares of Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Susquehanna upped their target price on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, Guggenheim downgraded shares of Snap from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Snap has a consensus rating of “Hold” and an average 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.