Derek Andersen Sells 61,334 Shares of Snap Inc. (NYSE:SNAP) 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 stock was sold at an average price of $10.84, for a total transaction of $664,860.56. Following the sale, the chief financial officer now owns 3,564,235 shares of the company’s stock, valued at $38,636,307.40. This trade represents a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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.
• 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 transaction of $1,077,236.16.

Snap Price Performance

Shares of NYSE:SNAP opened at $10.68 on Friday. The company’s 50 day simple moving average is $11.21 and its 200 day simple moving average is $10.73. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. Snap Inc. has a 1 year low of $8.29 and a 1 year high of $17.33.

Snap (NYSE:SNAP) last posted its 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.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SNAP. Barclays restated an “overweight” rating on shares of Snap in a research report on Wednesday, February 5th. Benchmark restated a “hold” rating on shares of Snap in a research report on Friday, October 25th. Citigroup raised their price objective on shares of Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 target price on shares of Snap in a report on Thursday, December 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $16.00 target price on shares of Snap in a report on Monday, January 27th. One 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $36.87.

Institutional Trading of Snap

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Checchi Capital Advisers LLC grew its stake in shares of Snap by 3.0% during the fourth quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company’s stock worth $335,000 after buying an additional 901 shares during the last quarter. HCR Wealth Advisors grew its stake in shares of Snap by 3.9% during the fourth quarter. HCR Wealth Advisors now owns 25,016 shares of the company’s stock worth $269,000 after buying an additional 934 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of Snap by 8.0% during the fourth quarter. Captrust Financial Advisors now owns 13,918 shares of the company’s stock worth $150,000 after buying an additional 1,030 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Snap by 1.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 61,365 shares of the company’s stock worth $661,000 after buying an additional 1,033 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in shares of Snap by 3.1% during the fourth quarter. Empowered Funds LLC now owns 35,639 shares of the company’s stock worth $384,000 after buying an additional 1,055 shares during the last quarter. Institutional investors own 47.52% of the company’s stock.

Snap Company Profile

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.