Derek Andersen Sells 97,608 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 97,608 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $9.29, for a total transaction of $906,778.32. Following the sale, the chief financial officer now directly owns 2,287,970 shares of the company’s stock, valued at $21,255,241.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Snap Stock Up 2.7 %

Shares of SNAP stock traded up $0.25 on Wednesday, reaching $9.67. 32,502,632 shares of the company were exchanged, compared to its average volume of 27,445,320. The company has a market cap of $15.87 billion, a price-to-earnings ratio of -11.89 and a beta of 1.01. Snap Inc. has a one year low of $8.28 and a one year high of $17.90. The company has a 50-day moving average of $10.97 and a 200-day moving average of $12.85. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.02. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.25 billion. Analysts anticipate that Snap Inc. will post -0.48 earnings per share for the current year.

Institutional Investors Weigh In On Snap

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Gryphon Financial Partners LLC bought a new stake in Snap during the 4th quarter worth approximately $204,000. Dimensional Fund Advisors LP lifted its stake in Snap by 19.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,184,684 shares of the company’s stock valued at $36,992,000 after acquiring an additional 351,837 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Snap by 12.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 40,341 shares of the company’s stock worth $683,000 after acquiring an additional 4,307 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Snap in the 4th quarter worth $8,399,000. Finally, BNP Paribas Asset Management Holding S.A. raised its holdings in shares of Snap by 14.5% in the fourth quarter. BNP Paribas Asset Management Holding S.A. now owns 141,245 shares of the company’s stock valued at $2,391,000 after purchasing an additional 17,863 shares during the last quarter. 47.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SNAP has been the subject of several recent research reports. Benchmark reiterated a “hold” rating on shares of Snap in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $14.00 target price on shares of Snap in a research note on Wednesday. JMP Securities restated a “market perform” rating on shares of Snap in a research report on Wednesday. Hsbc Global Res downgraded shares of Snap from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, Bank of America decreased their price objective on shares of Snap from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Snap has a consensus rating of “Hold” and an average price target of $13.87.

Snap Company Profile

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.