Snap (NYSE:SNAP) CFO Sells $256,064.76 in Stock

Key Points

• Derek Andersen, CFO of Snap Inc., sold 33,871 shares of company stock on September 16th for a total of $256,064.76, reducing his position by 1.08% and leaving him with over 3.1 million shares valued at approximately $23.5 million.
• Snap's stock price has fluctuated recently, reaching $8.46 with a significant trading volume of nearly 202 million shares, indicating strong investor interest.
• Analysts have provided mixed ratings, with four having a "Buy" rating and the consensus price target set at $35.84, suggesting potential upside despite recent price adjustments from several brokerages.

Snap Inc. (NYSE:SNAP - Get Free Report) CFO Derek Andersen sold 33,871 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $7.56, for a total value of $256,064.76. Following the transaction, the chief financial officer owned 3,109,581 shares in the company, valued at approximately $23,508,432.36. This represents a 1.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, August 18th, Derek Andersen sold 60,966 shares of Snap stock. The stock was sold at an average price of $7.17, for a total value of $437,126.22.

Snap Trading Up 4.6%

Shares of SNAP traded up $0.38 during midday trading on Monday, reaching $8.54. The company had a trading volume of 219,197,906 shares, compared to its average volume of 97,965,448. Snap Inc. has a 1-year low of $6.90 and a 1-year high of $13.28. The stock has a market cap of $14.42 billion, a PE ratio of -26.67 and a beta of 0.62. The firm has a 50 day simple moving average of $8.11 and a 200-day simple moving average of $8.38. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 1.73.

Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.16). Snap had a negative net margin of 9.69% and a negative return on equity of 23.32%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. Snap's quarterly revenue was up 8.7% on a year-over-year basis. Snap has set its Q3 2025 guidance at EPS. Research analysts forecast that Snap Inc. will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors increased its holdings in shares of Snap by 8.0% during the fourth quarter. Captrust Financial Advisors now owns 13,918 shares of the company's stock valued at $150,000 after acquiring an additional 1,030 shares in the last quarter. AssuredPartners Investment Advisors LLC raised its stake in Snap by 6.3% in the 1st quarter. AssuredPartners Investment Advisors LLC now owns 22,128 shares of the company's stock worth $193,000 after acquiring an additional 1,306 shares during the last quarter. DMC Group LLC lifted its position in Snap by 7.2% during the 1st quarter. DMC Group LLC now owns 19,547 shares of the company's stock worth $170,000 after acquiring an additional 1,313 shares during the period. Apollon Wealth Management LLC grew its stake in Snap by 9.2% during the 2nd quarter. Apollon Wealth Management LLC now owns 15,934 shares of the company's stock valued at $138,000 after purchasing an additional 1,340 shares during the last quarter. Finally, Zullo Investment Group Inc. increased its holdings in shares of Snap by 12.8% in the second quarter. Zullo Investment Group Inc. now owns 12,040 shares of the company's stock valued at $105,000 after purchasing an additional 1,365 shares during the period. 47.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Citizens Jmp reissued a "market perform" rating on shares of Snap in a research report on Wednesday, August 6th. Citigroup lowered shares of Snap from an "outperform" rating to a "negative" rating in a research note on Tuesday, July 15th. Morgan Stanley boosted their price target on shares of Snap from $6.50 to $8.50 and gave the company an "equal weight" rating in a research note on Monday, July 21st. BMO Capital Markets lowered their price target on Snap from $13.00 to $12.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. Finally, Piper Sandler cut their price objective on Snap from $10.00 to $9.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $35.84.

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.