Snap Inc (NYSE:SNAP) CFO Sells $553,811.40 in Stock

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Snap Inc (NYSE:SNAP) CFO Derek Andersen sold 34,570 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $16.02, for a total transaction of $553,811.40. Following the completion of the transaction, the chief financial officer now owns 1,485,272 shares of the company’s stock, valued at approximately $23,794,057.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

  • On Friday, August 16th, Derek Andersen sold 8,476 shares of Snap stock. The shares were sold at an average price of $16.11, for a total transaction of $136,548.36.
  • On Tuesday, July 16th, Derek Andersen sold 8,136 shares of Snap stock. The shares were sold at an average price of $15.32, for a total transaction of $124,643.52.
  • On Monday, June 17th, Derek Andersen sold 49,291 shares of Snap stock. The shares were sold at an average price of $13.77, for a total transaction of $678,737.07.
  • 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 transaction of $108,000.00.

Shares of SNAP stock opened at $16.08 on Friday. The company has a market cap of $22.29 billion, a price-to-earnings ratio of -16.58 and a beta of 1.10. Snap Inc has a 52 week low of $4.82 and a 52 week high of $18.36. The company has a quick ratio of 4.53, a current ratio of 4.53 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $16.03 and a 200-day moving average of $12.53.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.02. The company had revenue of $388.02 million during the quarter, compared to the consensus estimate of $358.16 million. Snap had a negative net margin of 77.54% and a negative return on equity of 46.46%. The company’s quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.14) EPS. Analysts anticipate that Snap Inc will post -0.71 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the company. D L Carlson Investment Group Inc. bought a new position in Snap during the 2nd quarter valued at $2,504,000. KCL Capital L.P. lifted its stake in Snap by 13.6% during the 2nd quarter. KCL Capital L.P. now owns 1,250,000 shares of the company’s stock valued at $17,875,000 after acquiring an additional 150,000 shares in the last quarter. Steadfast Capital Management LP bought a new position in Snap during the 2nd quarter valued at $17,375,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in Snap by 437.7% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 233,531 shares of the company’s stock valued at $3,340,000 after acquiring an additional 190,098 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. lifted its stake in Snap by 107.8% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 326,831 shares of the company’s stock valued at $4,674,000 after acquiring an additional 169,578 shares in the last quarter. 26.52% of the stock is owned by institutional investors.

A number of brokerages recently issued reports on SNAP. BTIG Research raised their price objective on shares of Snap from $15.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Nomura raised their price objective on shares of Snap from $10.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Jefferies Financial Group increased their target price on shares of Snap from $13.00 to $18.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. They noted that the move was a valuation call. JPMorgan Chase & Co. increased their target price on shares of Snap from $11.00 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. They noted that the move was a valuation call. Finally, UBS Group raised shares of Snap from a “sell” rating to a “neutral” rating and increased their target price for the company from $8.00 to $16.00 in a research report on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating, twenty have given a hold rating and twelve have issued a buy rating to the stock. Snap presently has a consensus rating of “Hold” and a consensus target price of $14.88.

Snap Company Profile

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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