Derek Andersen Sells 33,618 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 33,618 shares of Snap stock in a transaction on Monday, March 17th. The stock was sold at an average price of $8.83, for a total value of $296,846.94. Following the sale, the chief financial officer now owns 3,507,897 shares of the company’s stock, valued at approximately $30,974,730.51. This trade represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Friday, March 14th, Derek Andersen sold 22,720 shares of Snap stock. The stock was sold at an average price of $8.58, for a total transaction of $194,937.60.
• On Tuesday, February 18th, Derek Andersen sold 61,334 shares of Snap stock. The shares were 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 shares were sold at an average price of $12.00, for a total transaction of $213,468.00.

Snap Trading Up 3.7 %

NYSE:SNAP opened at $9.06 on Thursday. The company has a market capitalization of $15.36 billion, a P/E ratio of -21.56 and a beta of 0.92. 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 12 month low of $8.29 and a 12 month high of $17.33. The firm has a fifty day simple moving average of $10.56 and a 200-day simple moving average of $10.80.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 EPS 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%. On average, equities research analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 5th. Susquehanna raised their price target on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Bank of America lifted their price objective on Snap from $14.00 to $14.50 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Guggenheim cut shares of Snap from a “buy” rating to a “neutral” rating in a report on Tuesday, February 11th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $16.00 price target (down previously from $18.00) on shares of Snap in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Snap presently has an average rating of “Hold” and a consensus price target of $36.87.

Institutional Investors Weigh In On Snap

Large investors have recently bought and sold shares of the company. Capital International Investors purchased a new position in Snap during the 4th quarter worth approximately $422,049,000. Capital World Investors increased its stake in shares of Snap by 38.9% in the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock worth $906,161,000 after acquiring an additional 23,569,522 shares during the period. Norges Bank purchased a new position in shares of Snap during the fourth quarter worth $30,162,000. Renaissance Technologies LLC acquired a new position in Snap during the fourth quarter valued at $27,713,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Snap by 62.4% in 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 purchasing an additional 2,386,519 shares during the last quarter. Hedge funds and other 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.