Snap Inc (NYSE:SNAP) CFO Sells $500,477.94 in Stock

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Snap Inc (NYSE:SNAP) CFO Derek Andersen sold 31,959 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $15.66, for a total value of $500,477.94. Following the sale, the chief financial officer now owns 1,427,219 shares of the company’s stock, valued at $22,350,249.54. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

  • On Wednesday, September 18th, Derek Andersen sold 12,618 shares of Snap stock. The shares were sold at an average price of $16.70, for a total value of $210,720.60.
  • On Friday, August 16th, Derek Andersen sold 8,476 shares of Snap stock. The shares were 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.

SNAP stock traded up $0.08 during trading on Friday, hitting $14.16. The company had a trading volume of 27,586,965 shares, compared to its average volume of 29,104,748. The company has a quick ratio of 4.53, a current ratio of 4.53 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $15.76 and a 200-day moving average price of $14.03. Snap Inc has a 1-year low of $4.82 and a 1-year high of $18.36. The firm has a market cap of $19.53 billion, a PE ratio of -14.60 and a beta of 1.11.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported ($0.19) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.02. Snap had a negative return on equity of 46.46% and a negative net margin of 77.54%. The business had revenue of $388.02 million for the quarter, compared to analyst estimates of $358.16 million. During the same quarter in the previous year, the company earned ($0.14) EPS. The company’s quarterly revenue was up 48.0% on a year-over-year basis. Sell-side analysts anticipate that Snap Inc will post -0.71 earnings per share for the current year.

A number of equities analysts have issued reports on the company. Aegis increased their price target on Snap from $19.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Summit Insights upgraded Snap from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Goldman Sachs Group raised Snap from a “neutral” rating to a “buy” rating and increased their price target for the company from $13.00 to $18.00 in a report on Friday, July 12th. Morgan Stanley raised Snap from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $14.00 to $17.00 in a report on Friday, October 4th. Finally, Wedbush increased their price target on Snap from $12.25 to $14.75 and gave the company a “neutral” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating and fourteen have issued a buy rating to the company. Snap has an average rating of “Hold” and an average price target of $16.46.

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in shares of Snap by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 4,810,361 shares of the company’s stock worth $26,505,000 after purchasing an additional 208,932 shares during the period. First Allied Advisory Services Inc. purchased a new position in shares of Snap during the 1st quarter worth $115,000. Raymond James & Associates lifted its stake in shares of Snap by 116.4% during the 1st quarter. Raymond James & Associates now owns 197,206 shares of the company’s stock worth $2,173,000 after purchasing an additional 106,092 shares during the period. Providence Capital Advisors LLC purchased a new position in shares of Snap during the 1st quarter worth $32,000. Finally, Wetherby Asset Management Inc. lifted its stake in shares of Snap by 54.5% during the 1st quarter. Wetherby Asset Management Inc. now owns 43,417 shares of the company’s stock worth $478,000 after purchasing an additional 15,316 shares during the period. 26.88% of the stock is currently owned by hedge funds and other institutional investors.

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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