Key Points
- CFO Derek Andersen sold 34,535 shares on December 16 at an average price of $7.21 for $248,997.35, trimming his ownership by 1.14% to about 2.996 million shares valued at roughly $21.6 million.
- Andersen has engaged in multiple recent insider sales, including 62,868 shares on November 17 and 16,412 shares on November 14, signaling continued insider selling activity over the past month.
- Snap reported mixed quarterly results — revenue beat estimates ($1.51B vs. $1.49B) but EPS missed (‑$0.06 vs. $0.06) — and the stock trades around $7.68 with a market cap of $13.2B and a consensus analyst rating of "Hold" (target ~$9.85).
Snap Inc. (NYSE:SNAP - Get Free Report) CAO Rebecca Morrow sold 3,090 shares of Snap stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $7.22, for a total transaction of $22,309.80. Following the sale, the chief accounting officer owned 486,964 shares in the company, valued at $3,515,880.08. This represents a 0.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Rebecca Morrow also recently made the following trade(s):
- On Wednesday, December 17th, Rebecca Morrow sold 3,783 shares of Snap stock. The shares were sold at an average price of $7.34, for a total transaction of $27,767.22.
- On Monday, December 15th, Rebecca Morrow sold 7,000 shares of Snap stock. The shares were sold at an average price of $7.33, for a total transaction of $51,310.00.
- On Monday, November 17th, Rebecca Morrow sold 12,699 shares of Snap stock. The stock was sold at an average price of $8.34, for a total transaction of $105,909.66.
Snap Price Performance
NYSE SNAP traded up $0.26 during trading on Thursday, reaching $7.76. 9,231,183 shares of the company traded hands, compared to its average volume of 51,698,090. Snap Inc. has a 1-year low of $6.90 and a 1-year high of $13.28. The company has a market cap of $13.33 billion, a price-to-earnings ratio of -26.77 and a beta of 0.85. The stock's 50 day moving average price is $7.87 and its two-hundred day moving average price is $8.15. The company has a debt-to-equity ratio of 1.57, a quick ratio of 3.67 and a current ratio of 3.67.
Snap (NYSE:SNAP - Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.12). The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.49 billion. Snap had a negative return on equity of 21.61% and a negative net margin of 8.60%.Snap's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.09) EPS. As a group, analysts anticipate that Snap Inc. will post -0.3 EPS for the current year.
Institutional Investors Weigh In On Snap
Several hedge funds and other institutional investors have recently made changes to their positions in SNAP. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Snap by 31.7% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,208,697 shares of the company's stock valued at $36,574,000 after acquiring an additional 1,013,757 shares during the period. Nikko Asset Management Americas Inc. raised its holdings in Snap by 94.1% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 2,107,288 shares of the company's stock worth $18,312,000 after purchasing an additional 1,021,677 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Snap during the 2nd quarter valued at about $2,723,000. Arkadios Wealth Advisors acquired a new position in Snap during the 2nd quarter valued at about $1,256,000. Finally, Quinn Opportunity Partners LLC boosted its stake in shares of Snap by 71.2% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 949,560 shares of the company's stock valued at $8,252,000 after purchasing an additional 395,000 shares during the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the stock. Piper Sandler boosted their target price on shares of Snap from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Thursday, November 6th. Stifel Nicolaus set a $7.00 target price on Snap in a report on Thursday, November 6th. Mizuho initiated coverage on Snap in a report on Monday, September 29th. They set a "neutral" rating and a $9.00 price target for the company. Citigroup boosted their price objective on Snap from $8.50 to $10.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 12th. Finally, Morgan Stanley decreased their target price on Snap from $8.50 to $8.00 and set an "equal weight" rating on the stock in a report on Monday, October 20th. Three analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $9.85.
Get Our Latest Stock Analysis on Snap
About Snap
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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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