Insider Sell: CFO Derek Andersen Sells 96,953 Shares of Snap Inc (SNAP)
Snap Inc (NYSE:SNAP) CFO Derek Andersen has sold 96,953 shares of the company on March 18, 2024, according to a recent SEC filing. The transaction was executed at an average price of $10.99 per share, resulting in a total value of approximately $1,066,192.47.Snap Inc, known for its popular social media platform Snapchat, allows users to communicate through short videos and images known as snaps. The company has expanded its business to include hardware products like Spectacles, a wearable camera that integrates with Snapchat, and has also delved into augmented reality technology.Over the past year, Derek Andersen has sold a total of 378,823 shares of Snap Inc and has not made any share purchases. This latest transaction continues a trend of insider selling at the company, with a total of 49 insider sells and no insider buys occurring over the past year.
On the day of the insider's recent sale, shares of Snap Inc were trading at $10.99, giving the company a market capitalization of $18.487 billion. The stock's price-to-GF-Value ratio stands at 0.71, indicating that Snap Inc is modestly undervalued according to the GF Value.
The GF Value is a proprietary intrinsic value estimate from GuruFocus, which is calculated based on historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates provided by Morningstar analysts. For Snap Inc, the GF Value is set at $15.48, suggesting potential for price appreciation from the current trading levels.The insider's recent sale may attract the attention of investors who track insider transactions as an indicator of a company's prospects. However, it is important to consider a wide range of factors when evaluating the potential future performance of a stock.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
