Snap Inc (SNAP) CFO Derek Andersen Sells 9,000 Shares
Snap Inc (NYSE:SNAP) CFO Derek Andersen sold 9,000 shares of Snap stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $12.00, for a total transaction of $108,000.00. Following the completion of the sale, the chief financial officer now owns 1,551,175 shares of the company’s stock, valued at $18,614,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
NYSE SNAP opened at $11.69 on Tuesday. The firm has a market cap of $16.34 billion, a price-to-earnings ratio of -12.05 and a beta of 0.82. Snap Inc has a fifty-two week low of $4.82 and a fifty-two week high of $14.47.
Snap (NYSE:SNAP) last posted its earnings results on Tuesday, April 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). The company had revenue of $320.43 million for the quarter, compared to the consensus estimate of $306.28 million. Snap had a negative return on equity of 47.71% and a negative net margin of 92.94%. The business’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.17) EPS. On average, sell-side analysts expect that Snap Inc will post -0.76 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Valmark Advisers Inc. grew its stake in shares of Snap by 64.7% during the fourth quarter. Valmark Advisers Inc. now owns 18,543 shares of the company’s stock worth $102,000 after buying an additional 7,285 shares during the last quarter. TRUE Private Wealth Advisors bought a new stake in shares of Snap during the first quarter worth $115,000. Wedbush Securities Inc. bought a new stake in shares of Snap during the fourth quarter worth $55,000. Geode Capital Management LLC grew its stake in shares of Snap by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 4,810,361 shares of the company’s stock worth $26,505,000 after buying an additional 208,932 shares during the last quarter. Finally, Ffcm LLC bought a new stake in shares of Snap during the fourth quarter worth $92,000. 26.09% of the stock is currently owned by hedge funds and other institutional investors.
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Snap Company Profile
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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