Snap Inc (NYSE:SNAP) CFO Derek Andersen Sells 49,291 Shares

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Snap Inc (NYSE:SNAP) CFO Derek Andersen sold 49,291 shares of Snap stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $13.77, for a total value of $678,737.07. Following the completion of the transaction, the chief financial officer now owns 1,501,884 shares of the company’s stock, valued at approximately $20,680,942.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

  • On Thursday, May 30th, Derek Andersen sold 9,000 shares of Snap stock. The shares were sold at an average price of $12.00, for a total value of $108,000.00.

SNAP stock traded down $0.19 during trading on Wednesday, hitting $14.67. 26,480,199 shares of the company’s stock were exchanged, compared to its average volume of 27,636,850. The stock has a market cap of $18.16 billion, a price-to-earnings ratio of -15.12 and a beta of 0.84. Snap Inc has a 52-week low of $4.82 and a 52-week high of $14.98. The company has a quick ratio of 4.75, a current ratio of 4.75 and a debt-to-equity ratio of 0.15.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, April 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). The business had revenue of $320.43 million for the quarter, compared to analysts’ expectations of $306.28 million. Snap had a negative return on equity of 47.71% and a negative net margin of 92.94%. Snap’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.17) EPS. As a group, sell-side analysts anticipate that Snap Inc will post -0.76 EPS for the current year.

Several equities analysts have recently issued reports on the company. BTIG Research lifted their price objective on Snap from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday. Aegis upgraded Snap from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Monday. Pivotal Research upgraded Snap from a “hold” rating to a “buy” rating and lifted their price objective for the company from $13.25 to $17.25 in a research note on Thursday, June 6th. China Renaissance Securities assumed coverage on Snap in a research note on Wednesday, May 29th. They issued a “hold” rating and a $12.00 price objective for the company. Finally, ValuEngine upgraded Snap from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and nine have assigned a buy rating to the stock. Snap currently has an average rating of “Hold” and a consensus target price of $11.18.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNAP. Providence Capital Advisors LLC acquired a new position in Snap during the first quarter worth approximately $32,000. TCI Wealth Advisors Inc. increased its position in Snap by 70.0% during the first quarter. TCI Wealth Advisors Inc. now owns 3,400 shares of the company’s stock worth $37,000 after buying an additional 1,400 shares during the period. Lincoln National Corp acquired a new position in Snap during the fourth quarter worth approximately $59,000. Cullen Frost Bankers Inc. acquired a new position in Snap during the fourth quarter worth approximately $64,000. Finally, Stephens Inc. AR acquired a new position in Snap during the fourth quarter worth approximately $66,000. 26.08% of the stock is currently owned by institutional investors.

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About Snap

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.

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Insider Buying and Selling by Quarter for Snap (NYSE:SNAP)

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