Snap Inc. (NYSE:SNAP) CFO Sells $272,443.44 in Stock

Snap Inc. (NYSE:SNAP - Get Free Report) CFO Derek Andersen sold 33,886 shares of Snap stock in a transaction on Monday, June 16th. The stock was sold at an average price of $8.04, for a total transaction of $272,443.44. Following the completion of the transaction, the chief financial officer now directly owns 3,204,418 shares of the company's stock, valued at $25,763,520.72. The trade was a 1.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, May 16th, Derek Andersen sold 61,068 shares of Snap stock. The stock was sold at an average price of $8.60, for a total transaction of $525,184.80.
• On Wednesday, May 14th, Derek Andersen sold 208,525 shares of Snap stock. The stock was sold at an average price of $9.03, for a total transaction of $1,882,980.75.

Snap Trading Up 0.8%

Shares of NYSE:SNAP traded up $0.06 during trading hours on Wednesday, hitting $8.24. The company's stock had a trading volume of 27,589,916 shares, compared to its average volume of 29,656,775. Snap Inc. has a 52 week low of $7.08 and a 52 week high of $17.33. The company has a current ratio of 4.30, a quick ratio of 4.30 and a debt-to-equity ratio of 1.55. The firm's fifty day moving average price is $8.32 and its 200 day moving average price is $9.77.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.12). Snap had a negative net margin of 9.63% and a negative return on equity of 21.53%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the firm posted $0.03 EPS. The company's revenue for the quarter was up 14.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Snap Inc. will post -0.3 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on SNAP. Citizens Jmp raised shares of Snap from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 28th. Susquehanna dropped their price target on shares of Snap from $13.00 to $8.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Cantor Fitzgerald set a $7.00 price target on shares of Snap and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. B. Riley dropped their price target on shares of Snap from $12.00 to $10.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Finally, Piper Sandler dropped their price target on shares of Snap from $13.00 to $10.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, twenty-three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Snap presently has a consensus rating of "Hold" and a consensus price target of $35.62.

Institutional Investors Weigh In On Snap

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Snap by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 109,483,491 shares of the company's stock valued at $953,601,000 after purchasing an additional 6,921,841 shares in the last quarter. Capital World Investors raised its stake in shares of Snap by 38.9% during the 4th quarter. Capital World Investors now owns 84,137,317 shares of the company's stock worth $906,161,000 after acquiring an additional 23,569,522 shares in the last quarter. SRS Investment Management LLC raised its stake in shares of Snap by 1.4% during the 4th quarter. SRS Investment Management LLC now owns 73,723,115 shares of the company's stock worth $793,998,000 after acquiring an additional 1,001,632 shares in the last quarter. Capital International Investors bought a new position in shares of Snap during the 4th quarter worth approximately $422,049,000. Finally, Geode Capital Management LLC raised its stake in shares of Snap by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 11,831,472 shares of the company's stock worth $127,078,000 after acquiring an additional 134,017 shares in the last quarter. Institutional investors own 47.52% of the company's stock.

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.

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