Insider Selling: Snap Inc. (NYSE:SNAP) CFO Sells 33,618 Shares of Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 33,618 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $8.83, for a total transaction of $296,846.94. Following the completion of the sale, the chief financial officer now owns 3,507,897 shares of the company’s stock, valued at $30,974,730.51. This trade represents a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Friday, March 14th, Derek Andersen sold 22,720 shares of Snap stock. The stock was sold at an average price of $8.58, for a total transaction of $194,937.60.
• On Tuesday, February 18th, Derek Andersen sold 61,334 shares of Snap stock. The stock was sold at an average price of $10.84, for a total transaction of $664,860.56.
• On Wednesday, December 18th, Derek Andersen sold 17,789 shares of Snap stock. The stock was sold at an average price of $12.00, for a total transaction of $213,468.00.

Snap Trading Down 2.9 %

Shares of Snap stock traded down $0.27 during mid-day trading on Tuesday, hitting $8.73. 25,157,896 shares of the stock were exchanged, compared to its average volume of 25,410,513. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.33. The stock has a market capitalization of $14.80 billion, a price-to-earnings ratio of -20.77 and a beta of 0.92. The company has a 50-day simple moving average of $10.56 and a 200 day simple moving average of $10.80. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. Research analysts forecast that Snap Inc. will post -0.3 EPS for the current year.

Institutional Investors Weigh In On Snap

A number of institutional investors have recently bought and sold shares of the stock. Capital World Investors grew its holdings in Snap by 38.9% in the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock valued at $906,161,000 after purchasing an additional 23,569,522 shares during the period. SRS Investment Management LLC grew its holdings in Snap by 1.4% in the fourth quarter. SRS Investment Management LLC now owns 73,723,115 shares of the company’s stock valued at $793,998,000 after purchasing an additional 1,001,632 shares during the period. Capital International Investors purchased a new stake in Snap in the fourth quarter valued at approximately $422,049,000. Geode Capital Management LLC grew its holdings in Snap by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 11,831,472 shares of the company’s stock valued at $127,078,000 after purchasing an additional 134,017 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Snap by 13.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,075,318 shares of the company’s stock valued at $76,201,000 after purchasing an additional 828,285 shares during the period. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SNAP has been the subject of a number of research analyst reports. Susquehanna increased their price target on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Bank of America increased their price target on shares of Snap from $14.00 to $14.50 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Needham & Company LLC reiterated a “buy” rating and issued a $640.00 price target on shares of Snap in a report on Thursday, December 5th. Barclays reiterated an “overweight” rating on shares of Snap in a report on Wednesday, February 5th. Finally, Guggenheim downgraded shares of Snap from a “buy” rating to a “neutral” rating in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $36.87.

About Snap

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.