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

Snap Inc. (NYSE:SNAPGet Free Report) CFO Derek Andersen sold 17,789 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $12.00, for a total transaction of $213,468.00. Following the completion of the sale, the chief financial officer now directly owns 2,176,017 shares of the company’s stock, valued at $26,112,204. This represents a 0.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 value of $1,077,236.16.

Snap Stock Up 0.4 %

Shares of NYSE:SNAP opened at $11.22 on Thursday. The company has a 50-day moving average price of $11.39 and a 200 day moving average price of $11.99. 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 12 month low of $8.29 and a 12 month high of $17.75. The company has a market cap of $18.82 billion, a price-to-earnings ratio of -19.34 and a beta of 0.97.

Snap (NYSE:SNAPGet Free Report) last released 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 firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.21) EPS. As a group, equities research analysts predict that Snap Inc. will post -0.4 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on SNAP. Cantor Fitzgerald lifted their target price on shares of Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Citigroup boosted their price objective on shares of Snap from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Stifel Nicolaus dropped their target price on shares of Snap from $13.00 to $11.00 and set a “hold” rating for the company in a report on Monday, October 14th. Piper Sandler reissued a “neutral” rating and issued a $13.00 target price (up from $12.00) on shares of Snap in a research note on Wednesday, October 30th. Finally, Bank of America upped their price target on Snap from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $37.10.

Get Our Latest Stock Report on SNAP

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. GraniteShares Advisors LLC lifted its stake in shares of Snap by 2.5% during the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock worth $634,000 after acquiring an additional 941 shares during the last quarter. Concurrent Investment Advisors LLC increased its stake in Snap by 4.0% in the second quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock worth $448,000 after purchasing an additional 1,048 shares during the period. Metis Global Partners LLC lifted its position in shares of Snap by 6.9% during the third quarter. Metis Global Partners LLC now owns 19,352 shares of the company’s stock worth $207,000 after purchasing an additional 1,255 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of Snap by 1.9% during the third quarter. Intech Investment Management LLC now owns 77,592 shares of the company’s stock valued at $830,000 after purchasing an additional 1,433 shares during the period. Finally, MML Investors Services LLC grew its holdings in shares of Snap by 6.8% in the third quarter. MML Investors Services LLC now owns 25,245 shares of the company’s stock worth $270,000 after purchasing an additional 1,614 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

About Snap

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Snap (NYSE:SNAP)

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