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

by · The Markets Daily

Snap Inc. (NYSE:SNAP – Get Free Report) CFO Derek Andersen sold 97,608 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $9.29, for a total transaction of $906,778.32. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Snap Price Performance

Shares of NYSE SNAP opened at $10.06 on Friday. The firm’s 50-day moving average price is $10.58 and its 200-day moving average price is $12.81. Snap Inc. has a 1-year low of $8.28 and a 1-year high of $17.90. The firm has a market capitalization of $16.69 billion, a P/E ratio of -12.42 and a beta of 1.00. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74.

Snap (NYSE:SNAP – Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.25 billion. Equities research analysts anticipate that Snap Inc. will post -0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Snap

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Snap by 12.0% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 40,341 shares of the company’s stock worth $683,000 after acquiring an additional 4,307 shares during the last quarter. Carmignac Gestion acquired a new stake in shares of Snap in the 4th quarter worth about $110,103,000. TCW Group Inc. acquired a new stake in shares of Snap in the 4th quarter worth about $275,000. V Square Quantitative Management LLC raised its holdings in shares of Snap by 72.7% in the 4th quarter. V Square Quantitative Management LLC now owns 11,119 shares of the company’s stock worth $188,000 after acquiring an additional 4,679 shares during the last quarter. Finally, Alta Park Capital LP bought a new stake in Snap in the 4th quarter worth about $13,845,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Bank of America decreased their target price on shares of Snap from $16.00 to $13.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Truist Financial reduced their price objective on shares of Snap from $16.00 to $13.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Hsbc Global Res cut shares of Snap from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Piper Sandler reissued a “neutral” rating and issued a $12.00 price objective (down previously from $15.00) on shares of Snap in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, twenty-four have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Snap presently has a consensus rating of “Hold” and an average price target of $13.76.

Check Out Our Latest Stock Report on SNAP

About Snap

(Get Free Report)

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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