Snap Inc. (NYSE:SNAP) CFO Sells $906,778.32 in Stock

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

Snap Stock Performance

Shares of SNAP opened at $10.08 on Friday. 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 Inc. has a one year low of $8.28 and a one year high of $17.90. The company has a 50-day simple moving average of $10.70 and a two-hundred day simple moving average of $12.81. The firm has a market capitalization of $16.73 billion, a PE ratio of -12.44 and a beta of 1.00.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping 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 analyst estimates of $1.25 billion. On average, analysts anticipate that Snap Inc. will post -0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Snap

Large investors have recently made changes to their positions in the business. Hollencrest Capital Management purchased a new position in shares of Snap during the second quarter valued at approximately $33,000. Blue Trust Inc. lifted its holdings in shares of Snap by 354.1% during the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after purchasing an additional 1,682 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of Snap during the second quarter valued at approximately $40,000. J.Safra Asset Management Corp lifted its holdings in shares of Snap by 534.4% during the second quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock valued at $46,000 after purchasing an additional 2,330 shares during the last quarter. Finally, JTC Employer Solutions Trustee Ltd purchased a new position in shares of Snap during the first quarter valued at approximately $100,000. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SNAP. Barclays reduced their price objective on Snap from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Susquehanna reduced their price objective on Snap from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Citigroup reduced their price objective on Snap from $16.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. HSBC cut Snap from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $12.00 price objective (down from $15.00) on shares of Snap in a research note on Friday, August 2nd. One 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. Based on data from MarketBeat, Snap has an average rating of “Hold” and a consensus target price 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.