Snap Inc (NYSE:SNAP) CFO Derek Andersen Sells 12,618 Shares

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Snap Inc (NYSE:SNAP) CFO Derek Andersen sold 12,618 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $16.70, for a total value of $210,720.60. Following the completion of the sale, the chief financial officer now directly owns 1,427,219 shares in the company, valued at approximately $23,834,557.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

  • On Monday, September 16th, Derek Andersen sold 31,959 shares of Snap stock. The stock was sold at an average price of $15.66, for a total value of $500,477.94.
  • On Friday, August 16th, Derek Andersen sold 8,476 shares of Snap stock. The stock was sold at an average price of $16.11, for a total value of $136,548.36.
  • On Monday, August 19th, Derek Andersen sold 34,570 shares of Snap stock. The stock was sold at an average price of $16.02, for a total value of $553,811.40.
  • On Tuesday, July 16th, Derek Andersen sold 8,136 shares of Snap stock. The stock was sold at an average price of $15.32, for a total value of $124,643.52.

Shares of SNAP stock traded down $0.15 during trading hours on Thursday, reaching $16.75. The company’s stock had a trading volume of 15,870,213 shares, compared to its average volume of 21,111,806. The stock has a market capitalization of $21.74 billion, a P/E ratio of -17.26 and a beta of 1.12. Snap Inc has a one year low of $4.82 and a one year high of $18.36. The firm’s fifty day simple moving average is $16.19 and its 200 day simple moving average is $13.42. The company has a current ratio of 4.53, a quick ratio of 4.53 and a debt-to-equity ratio of 0.15.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, July 23rd. The company reported ($0.19) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.02. The company had revenue of $388.02 million during the quarter, compared to analysts’ expectations of $358.16 million. Snap had a negative return on equity of 46.46% and a negative net margin of 77.54%. The firm’s revenue for the quarter was up 48.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.14) EPS. As a group, equities research analysts forecast that Snap Inc will post -0.71 earnings per share for the current fiscal year.

Several equities analysts recently issued reports on the company. Susquehanna Bancshares upgraded Snap from a “negative” rating to a “neutral” rating and raised their price target for the stock from $12.00 to $18.00 in a research report on Tuesday. BTIG Research raised their price target on Snap from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Nomura raised their price target on Snap from $10.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. SunTrust Banks raised their price target on Snap from $11.00 to $17.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Finally, UBS Group upgraded Snap from a “sell” rating to a “neutral” rating and raised their price target for the stock from $8.00 to $16.00 in a research report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, twenty have given a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $15.46.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Snap by 8.6% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 18,403 shares of the company’s stock valued at $203,000 after purchasing an additional 1,450 shares during the period. KCL Capital L.P. purchased a new position in shares of Snap in the 1st quarter valued at approximately $12,122,000. Aperio Group LLC lifted its stake in shares of Snap by 199.6% in the 2nd quarter. Aperio Group LLC now owns 35,988 shares of the company’s stock valued at $515,000 after purchasing an additional 23,976 shares during the period. Meitav Dash Investments Ltd. purchased a new position in shares of Snap in the 1st quarter valued at approximately $123,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Snap in the 2nd quarter valued at approximately $278,000. Institutional investors own 26.84% of the company’s stock.

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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