Snap (NYSE:SNAP) CFO Sells $296,292.70 in Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 63,041 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $4.70, for a total value of $296,292.70. Following the completion of the transaction, the chief financial officer directly owned 3,892,617 shares in the company, valued at approximately $18,295,299.90. This trade represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Wednesday, January 14th, Derek Andersen sold 23,715 shares of Snap stock. The shares were sold at an average price of $7.83, for a total transaction of $185,688.45.
• On Tuesday, December 16th, Derek Andersen sold 34,535 shares of Snap stock. The stock was sold at an average price of $7.21, for a total transaction of $248,997.35.

Snap Stock Up 2.3%

Shares of NYSE SNAP traded up $0.11 during trading on Thursday, hitting $4.99. 45,997,016 shares of the company traded hands, compared to its average volume of 58,450,742. The firm has a market capitalization of $8.43 billion, a price-to-earnings ratio of -18.48 and a beta of 0.83. The business’s fifty day moving average is $7.13 and its 200 day moving average is $7.56. The company has a debt-to-equity ratio of 1.53, a quick ratio of 3.56 and a current ratio of 3.56. Snap Inc. has a fifty-two week low of $4.65 and a fifty-two week high of $10.83.

Snap (NYSE:SNAP) last issued its earnings results on Wednesday, February 4th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). Snap had a negative net margin of 7.76% and a negative return on equity of 20.72%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the previous year, the firm earned $0.01 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. Equities research analysts predict that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Snap

Hedge funds have recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. increased its holdings in Snap by 31.7% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,208,697 shares of the company’s stock worth $36,574,000 after buying an additional 1,013,757 shares during the last quarter. Nikko Asset Management Americas Inc. grew its position in shares of Snap by 94.1% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 2,107,288 shares of the company’s stock valued at $18,312,000 after acquiring an additional 1,021,677 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Snap during the 2nd quarter valued at approximately $2,723,000. Arkadios Wealth Advisors bought a new stake in shares of Snap in the 2nd quarter worth approximately $1,256,000. Finally, CWM LLC raised its holdings in shares of Snap by 50.5% in the 3rd quarter. CWM LLC now owns 387,935 shares of the company’s stock worth $2,991,000 after purchasing an additional 130,172 shares during the period. 47.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SNAP. TD Cowen reduced their price objective on shares of Snap from $9.00 to $8.00 and set a “hold” rating for the company in a report on Thursday, February 5th. Piper Sandler reiterated a “neutral” rating on shares of Snap in a research note on Thursday, February 5th. Evercore reissued a “mixed” rating on shares of Snap in a report on Thursday, February 5th. UBS Group set a $7.30 target price on Snap in a research report on Tuesday, February 10th. Finally, Mizuho lowered their price target on Snap from $9.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-one have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $8.43.

Snap Company Profile

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.