Derek Andersen Sells 94,164 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 94,164 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $11.44, for a total transaction of $1,077,236.16. Following the completion of the sale, the chief financial officer now directly owns 2,193,806 shares of the company’s stock, valued at $25,097,140.64. The trade was a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 transaction of $213,468.00.

Snap Stock Up 0.7 %

Snap stock opened at $11.30 on Friday. The company has a market capitalization of $18.95 billion, a P/E ratio of -19.48 and a beta of 0.97. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.75. The firm’s fifty day simple moving average is $11.40 and its 200-day simple moving average is $11.98. 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 (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. Sell-side analysts forecast that Snap Inc. will post -0.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SNAP. Loop Capital raised their target price on shares of Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. JMP Securities decreased their target price on Snap from $17.00 to $16.00 and set a “market outperform” rating on the stock in a report on Wednesday, October 30th. Guggenheim reaffirmed a “buy” rating and set a $12.11 target price on shares of Snap in a report on Tuesday, December 3rd. Evercore ISI lifted their price target on Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company reduced their price objective on shares of Snap from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $37.10.

Institutional Investors Weigh In On Snap

A number of large investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP lifted its stake in shares of Snap by 587.3% in the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock worth $243,629,000 after buying an additional 12,533,653 shares during the last quarter. Geode Capital Management LLC raised its holdings in Snap by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company’s stock worth $124,742,000 after acquiring an additional 575,324 shares during the period. TB Alternative Assets Ltd. lifted its position in Snap by 105.6% during the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after acquiring an additional 4,098,847 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Snap by 62.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after acquiring an additional 2,386,519 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Snap by 49.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock valued at $41,842,000 after purchasing an additional 1,297,348 shares during the last quarter. 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.