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 stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $12.50, for a total value of $12,500,000.00. Following the completion of the transaction, the chief technology officer now directly owns 57,210,989 shares in the company, valued at $715,137,362.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Snap Stock Performance

Shares of NYSE SNAP opened at $12.19 on Wednesday. The stock has a 50 day moving average price of $10.28 and a 200 day moving average price of $12.74. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.90. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. The stock has a market capitalization of $20.23 billion, a PE ratio of -21.02 and a beta of 0.99.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the firm posted ($0.21) earnings per share. The business’s revenue was up 15.4% on a year-over-year basis. Analysts predict that Snap Inc. will post -0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SNAP has been the subject of several recent analyst reports. B. Riley increased their price target on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Cantor Fitzgerald increased their price target on Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Hsbc Global Res downgraded Snap from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Truist Financial increased their price target on Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Finally, UBS Group increased their price target on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $14.31.

Institutional Trading of Snap

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

About Snap

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.