Insider Selling: Snap (NYSE:SNAP) CFO Sells 92,956 Shares of Stock

Snap Inc. (NYSE:SNAP) CFO Derek Andersen sold 92,956 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $4.59, for a total value of $426,668.04. Following the sale, the chief financial officer directly owned 3,799,661 shares in the company, valued at $17,440,443.99. This trade represents a 2.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, February 17th, Derek Andersen sold 63,041 shares of Snap stock. The shares were sold at an average price of $4.70, for a total value of $296,292.70.
• On Wednesday, January 14th, Derek Andersen sold 23,715 shares of Snap stock. The stock was sold at an average price of $7.83, for a total value of $185,688.45.

Snap Price Performance

NYSE SNAP traded down $0.04 on Tuesday, reaching $4.65. The company had a trading volume of 28,532,711 shares, compared to its average volume of 40,170,488. Snap Inc. has a 12 month low of $4.52 and a 12 month high of $10.41. The company has a quick ratio of 3.56, a current ratio of 3.56 and a debt-to-equity ratio of 1.53. The firm’s 50 day moving average price is $6.06 and its 200 day moving average price is $7.24. The stock has a market capitalization of $7.85 billion, a PE ratio of -17.20 and a beta of 0.83.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Snap had a negative net margin of 7.76% and a negative return on equity of 20.72%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the company earned $0.01 earnings per share. As a group, equities analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.

Analyst Ratings Changes

SNAP has been the topic of several recent research reports. Piper Sandler reiterated a “neutral” rating on shares of Snap in a report on Thursday, February 5th. Evercore reaffirmed a “mixed” rating on shares of Snap in a research report on Thursday, February 5th. Roth Mkm set a $7.00 price target on Snap in a research report on Thursday, February 5th. Cantor Fitzgerald dropped their price objective on Snap from $9.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, February 5th. Finally, Citizens Jmp reaffirmed a “market perform” rating on shares of Snap in a research report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twenty have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Snap has a consensus rating of “Hold” and a consensus price target of $8.17.

Hedge Funds Weigh In On Snap

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. acquired a new position in Snap in the third quarter valued at $176,697,000. AQR Capital Management LLC lifted its holdings in shares of Snap by 874.3% in the 4th quarter. AQR Capital Management LLC now owns 10,066,852 shares of the company’s stock valued at $81,239,000 after purchasing an additional 9,033,644 shares during the last quarter. Junto Capital Management LP purchased a new stake in shares of Snap in the 3rd quarter valued at about $29,071,000. Voloridge Investment Management LLC boosted its position in shares of Snap by 53.3% in the 3rd quarter. Voloridge Investment Management LLC now owns 10,300,911 shares of the company’s stock valued at $79,420,000 after purchasing an additional 3,582,223 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of Snap by 537.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,150,134 shares of the company’s stock valued at $33,492,000 after purchasing an additional 3,499,578 shares during the period. 47.52% of the stock is owned by institutional investors and hedge funds.

Snap Company Profile

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.