Snap Inc. (NYSE:SNAP) CTO Sells $12,500,000.00 in Stock

Snap Inc. (NYSE:SNAP) CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $12.50, for a total value of $12,500,000.00. Following the completion of the sale, the chief technology officer now owns 57,210,989 shares of the company’s stock, valued at approximately $715,137,362.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Snap Stock Down 3.3 %

Shares of NYSE SNAP traded down $0.41 during mid-day trading on Monday, reaching $12.12. 22,827,506 shares of the company’s stock were exchanged, compared to its average volume of 27,682,445. The firm has a market capitalization of $20.11 billion, a price-to-earnings ratio of -20.97 and a beta of 0.99. Snap Inc. has a twelve month low of $8.29 and a twelve month high of $17.90. The business has a fifty day simple moving average of $10.18 and a 200 day simple moving average of $12.73. The company has a current ratio of 4.04, a quick ratio of 3.98 and a debt-to-equity ratio of 1.63.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.21) EPS. As a group, equities analysts expect that Snap Inc. will post -0.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SNAP. Morgan Stanley upgraded Snap from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $12.00 to $16.00 in a report on Tuesday, July 23rd. B. Riley boosted their target price on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Cantor Fitzgerald boosted their target price on Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Evercore ISI boosted their target price on Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Finally, Argus raised Snap to a “hold” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $14.25.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new position in shares of Snap during the 3rd quarter worth approximately $29,000. Paladin Wealth LLC bought a new position in shares of Snap during the 3rd quarter worth approximately $30,000. Hollencrest Capital Management bought a new stake in Snap in the 2nd quarter valued at $33,000. Blue Trust Inc. boosted its stake in Snap by 354.1% in the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after purchasing an additional 1,682 shares during the period. Finally, Rothschild Investment LLC bought a new stake in Snap in the 2nd quarter valued at $40,000. 47.52% of the stock is currently owned by institutional investors.

Snap Company Profile

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.