Snap (NYSE:SNAP) CFO Sells $185,688.45 in Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 23,715 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $7.83, for a total value of $185,688.45. Following the completion of the sale, the chief financial officer owned 2,972,051 shares in the company, valued at approximately $23,271,159.33. This represents a 0.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Tuesday, December 16th, Derek Andersen sold 34,535 shares of Snap stock. The shares were sold at an average price of $7.21, for a total transaction of $248,997.35.
• On Monday, November 17th, Derek Andersen sold 62,868 shares of Snap stock. The stock was sold at an average price of $8.34, for a total transaction of $524,319.12.
• On Friday, November 14th, Derek Andersen sold 16,412 shares of Snap stock. The shares were sold at an average price of $8.40, for a total value of $137,860.80.

Snap Price Performance

Shares of Snap stock traded down $0.23 on Friday, hitting $7.53. The company’s stock had a trading volume of 38,442,237 shares, compared to its average volume of 33,360,028. The company has a market capitalization of $12.95 billion, a price-to-earnings ratio of -25.96 and a beta of 0.81. Snap Inc. has a 1 year low of $6.90 and a 1 year high of $11.77. The company has a debt-to-equity ratio of 1.57, a quick ratio of 3.67 and a current ratio of 3.67. The firm has a fifty day moving average price of $7.95 and a 200-day moving average price of $8.10.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). Snap had a negative net margin of 8.60% and a negative return on equity of 21.61%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the firm earned ($0.09) earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SNAP shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Snap in a report on Wednesday, October 8th. BNP Paribas Exane began coverage on Snap in a research report on Wednesday. They set an “underperform” rating and a $8.00 price target for the company. Citigroup raised their price objective on Snap from $8.50 to $10.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. Piper Sandler upped their target price on shares of Snap from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Finally, Arete Research upgraded shares of Snap from a “sell” rating to a “neutral” rating in a research report on Tuesday, November 18th. Three analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, Snap presently has an average rating of “Reduce” and an average price target of $9.86.

Institutional Investors Weigh In On Snap

Hedge funds have recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. increased its stake in Snap by 31.7% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,208,697 shares of the company’s stock worth $36,574,000 after buying an additional 1,013,757 shares during the period. Nikko Asset Management Americas Inc. grew its stake in shares of Snap by 94.1% in the second quarter. Nikko Asset Management Americas Inc. now owns 2,107,288 shares of the company’s stock worth $18,312,000 after acquiring an additional 1,021,677 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Snap during the second quarter worth $2,723,000. Arkadios Wealth Advisors purchased a new stake in shares of Snap during the second quarter worth $1,256,000. Finally, CWM LLC raised its stake in shares of Snap by 50.5% in the third quarter. CWM LLC now owns 387,935 shares of the company’s stock valued at $2,991,000 after acquiring an additional 130,172 shares in the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Snap Company Profile

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.