Robert C. Murphy Sells 1,000,000 Shares of Snap Inc. (NYSE:SNAP) Stock

Snap Inc. (NYSE:SNAP) CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $9.04, for a total value of $9,040,000.00. Following the sale, the chief technology officer now directly owns 55,818,548 shares in the company, valued at $504,599,673.92. This represents a 1.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Snap Trading Up 3.2 %

Shares of Snap stock opened at $8.64 on Friday. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.33. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. The stock has a market cap of $14.65 billion, a PE ratio of -20.56 and a beta of 0.92. The company has a 50-day moving average of $10.77 and a two-hundred day moving average of $10.79.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. On average, research analysts anticipate that Snap Inc. will post -0.3 EPS for the current fiscal year.

Institutional Trading of Snap

Large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its position in Snap by 20.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,323 shares of the company’s stock worth $153,000 after acquiring an additional 2,395 shares during the last quarter. United Bank acquired a new stake in Snap during the third quarter worth approximately $177,000. Versor Investments LP boosted its position in Snap by 65.1% during the third quarter. Versor Investments LP now owns 35,000 shares of the company’s stock worth $374,000 after acquiring an additional 13,800 shares during the last quarter. Entropy Technologies LP acquired a new stake in Snap during the third quarter worth approximately $828,000. Finally, GSA Capital Partners LLP boosted its position in Snap by 166.9% during the third quarter. GSA Capital Partners LLP now owns 68,150 shares of the company’s stock worth $729,000 after acquiring an additional 42,612 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SNAP has been the subject of a number of analyst reports. BMO Capital Markets reiterated an “outperform” rating and set a $16.00 target price (down previously from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Susquehanna boosted their target price on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Wells Fargo & Company downgraded shares of Snap from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $15.00 to $11.00 in a research note on Wednesday, February 5th. Guggenheim downgraded shares of Snap from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 11th. Finally, Citigroup upped their price objective on shares of Snap from $13.00 to $13.50 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $36.87.

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.