Derek Andersen Sells 8,667 Shares of Snap Inc (NYSE:SNAP) Stock

Snap Inc (NYSE:SNAP) CFO Derek Andersen sold 8,667 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $13.87, for a total value of $120,211.29. Following the sale, the chief financial officer now directly owns 1,385,934 shares in the company, valued at $19,222,904.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Wednesday, September 18th, Derek Andersen sold 12,618 shares of Snap stock. The stock was sold at an average price of $16.70, for a total value of $210,720.60.
  • On Monday, September 16th, Derek Andersen sold 31,959 shares of Snap stock. The stock was sold at an average price of $15.66, for a total value of $500,477.94.
  • On Friday, August 16th, Derek Andersen sold 8,476 shares of Snap stock. The stock was sold at an average price of $16.11, for a total value of $136,548.36.
  • On Monday, August 19th, Derek Andersen sold 34,570 shares of Snap stock. The stock was sold at an average price of $16.02, for a total value of $553,811.40.

Shares of NYSE SNAP traded down $0.26 during midday trading on Friday, hitting $13.52. The stock had a trading volume of 38,568,710 shares, compared to its average volume of 28,917,708. The company has a market capitalization of $19.43 billion, a PE ratio of -13.94 and a beta of 1.11. The stock has a 50 day simple moving average of $15.51 and a 200-day simple moving average of $14.14. Snap Inc has a 1 year low of $4.82 and a 1 year high of $18.36. The company has a quick ratio of 4.53, a current ratio of 4.53 and a debt-to-equity ratio of 0.15.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, July 23rd. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.02. The business had revenue of $388.02 million for the quarter, compared to the consensus estimate of $358.16 million. Snap had a negative return on equity of 46.46% and a negative net margin of 77.54%. The business’s quarterly revenue was up 48.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.14) earnings per share. As a group, analysts expect that Snap Inc will post -0.71 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNAP. Prime Capital Investment Advisors LLC purchased a new position in Snap during the second quarter worth approximately $27,000. Atlas Capital Advisors LLC purchased a new position in Snap during the second quarter worth approximately $29,000. Optimum Investment Advisors purchased a new position in Snap during the third quarter worth approximately $32,000. Catalyst Capital Advisors LLC lifted its position in Snap by 38.8% during the second quarter. Catalyst Capital Advisors LLC now owns 2,386 shares of the company’s stock worth $34,000 after buying an additional 667 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its position in Snap by 400.0% during the second quarter. Valeo Financial Advisors LLC now owns 2,500 shares of the company’s stock worth $36,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 26.88% of the company’s stock.

SNAP has been the topic of several analyst reports. Jefferies Financial Group raised their target price on Snap from $13.00 to $18.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. Goldman Sachs Group raised Snap from a “neutral” rating to a “buy” rating and raised their target price for the stock from $13.00 to $18.00 in a report on Friday, July 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $19.00 target price on shares of Snap in a report on Wednesday, October 2nd. Morgan Stanley raised Snap from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $14.00 to $17.00 in a report on Friday, October 4th. Finally, Canaccord Genuity raised their price objective on Snap from $13.00 to $17.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, twenty-one have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $16.48.

About Snap

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.

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