Derek Andersen Sells 8,284 Shares of Snap Inc (NYSE:SNAP) Stock

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Snap Inc (NYSE:SNAP) CFO Derek Andersen sold 8,284 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $17.63, for a total value of $146,046.92. Following the completion of the sale, the chief financial officer now owns 1,573,072 shares of the company’s stock, valued at approximately $27,733,259.36. The transaction 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, April 16th, Derek Andersen sold 8,542 shares of Snap stock. The stock was sold at an average price of $13.58, for a total value of $116,000.36.
  • On Monday, March 16th, Derek Andersen sold 39,801 shares of Snap stock. The stock was sold at an average price of $9.47, for a total value of $376,915.47.

Snap stock opened at $17.67 on Friday. The firm has a market cap of $24.92 billion, a price-to-earnings ratio of -24.21 and a beta of 1.76. The stock has a fifty day simple moving average of $15.29 and a two-hundred day simple moving average of $15.32. Snap Inc has a 12 month low of $7.89 and a 12 month high of $19.75. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 0.56.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, April 21st. The company reported ($0.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.12. The business had revenue of $462.50 million during the quarter, compared to analyst estimates of $420.01 million. Snap had a negative return on equity of 46.64% and a negative net margin of 55.40%. The company’s quarterly revenue was up 44.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.10) EPS. On average, equities research analysts forecast that Snap Inc will post -0.74 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of SNAP. Capital Square LLC bought a new stake in shares of Snap in the first quarter worth $27,000. Moser Wealth Advisors LLC bought a new stake in shares of Snap in the fourth quarter worth $28,000. Capital Bank & Trust Co bought a new stake in shares of Snap in the fourth quarter worth $36,000. Synovus Financial Corp grew its holdings in shares of Snap by 2,335.8% in the first quarter. Synovus Financial Corp now owns 3,264 shares of the company’s stock worth $39,000 after acquiring an additional 3,130 shares during the period. Finally, Advisory Services Network LLC grew its holdings in shares of Snap by 9,280.8% in the fourth quarter. Advisory Services Network LLC now owns 2,439 shares of the company’s stock worth $40,000 after acquiring an additional 2,413 shares during the period. 36.19% of the stock is owned by institutional investors.

SNAP has been the subject of several research analyst reports. Oppenheimer upgraded Snap from a “market perform” rating to an “outperform” rating and set a $18.00 price objective for the company in a report on Wednesday, April 22nd. Pivotal Research raised their target price on Snap from $20.00 to $21.50 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Guggenheim raised their target price on Snap from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. SunTrust Banks raised their target price on Snap from $12.00 to $15.00 and gave the company a “hold” rating in a research note on Wednesday, April 22nd. They noted that the move was a valuation call. Finally, Needham & Company LLC restated a “hold” rating on shares of Snap in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $17.65.

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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