Insider Selling: Snap Inc. (NYSE:SNAP) CFO Sells 22,720 Shares of Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 22,720 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $8.58, for a total transaction of $194,937.60. Following the sale, the chief financial officer now owns 3,541,515 shares of the company’s stock, valued at $30,386,198.70. This represents a 0.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Monday, March 17th, Derek Andersen sold 33,618 shares of Snap stock. The stock was sold at an average price of $8.83, for a total transaction of $296,846.94.
• On Tuesday, February 18th, Derek Andersen sold 61,334 shares of Snap stock. The stock was 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 stock was sold at an average price of $12.00, for a total transaction of $213,468.00.

Snap Price Performance

Shares of NYSE:SNAP traded down $0.27 on Tuesday, reaching $8.73. 25,157,896 shares of the company were exchanged, compared to its average volume of 25,410,513. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap Inc. has a 1-year low of $8.29 and a 1-year high of $17.33. The firm has a market cap of $14.80 billion, a price-to-earnings ratio of -20.77 and a beta of 0.92. The company has a 50-day moving average of $10.56 and a 200-day moving average of $10.80.

Snap (NYSE:SNAP) last posted 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%. Equities analysts forecast that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Snap

Several institutional investors and hedge funds have recently made changes to their positions in SNAP. Capital International Investors purchased a new stake in shares of Snap in the 4th quarter worth about $422,049,000. Capital World Investors boosted its position in shares of Snap by 38.9% in the 4th quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock worth $906,161,000 after buying an additional 23,569,522 shares in the last quarter. Norges Bank purchased a new stake in shares of Snap in the 4th quarter worth about $30,162,000. Renaissance Technologies LLC purchased a new stake in shares of Snap in the 4th quarter worth about $27,713,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Snap by 62.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after buying an additional 2,386,519 shares in the last quarter. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. BMO Capital Markets restated an “outperform” rating and set a $16.00 price objective (down previously from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Guggenheim downgraded shares of Snap from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 11th. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price target on shares of Snap in a research report on Thursday, December 5th. Wells Fargo & Company downgraded shares of Snap from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $15.00 to $11.00 in a research report on Wednesday, February 5th. Finally, Bank of America upped their price target on shares of Snap from $14.00 to $14.50 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Snap presently has an average rating of “Hold” and an average price target of $36.87.

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.