Snap (NYSE:SNAP) CTO Robert Murphy Sells 1,000,000 Shares

Snap Inc. (NYSE:SNAP) CTO Robert Murphy sold 1,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $5.36, for a total transaction of $5,360,000.00. Following the sale, the chief technology officer directly owned 49,313,775 shares in the company, valued at approximately $264,321,834. The trade was a 1.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Snap Stock Up 1.0%

Shares of NYSE SNAP traded up $0.05 during mid-day trading on Tuesday, hitting $5.24. The company had a trading volume of 87,764,730 shares, compared to its average volume of 58,501,992. The business’s 50-day simple moving average is $7.49 and its 200 day simple moving average is $7.74. The company has a debt-to-equity ratio of 1.53, a current ratio of 3.56 and a quick ratio of 3.56. Snap Inc. has a 1-year low of $5.09 and a 1-year high of $11.26. The company has a market capitalization of $9.01 billion, a PE ratio of -19.41 and a beta of 0.83.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Snap had a negative return on equity of 20.72% and a negative net margin of 7.76%.The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.01 EPS. On average, analysts predict that Snap Inc. will post -0.3 earnings per share for the current year.

Hedge Funds Weigh In On Snap

A number of hedge funds and other institutional investors have recently bought and sold shares of SNAP. Vanguard Group Inc. raised its position in Snap by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 101,251,557 shares of the company’s stock worth $817,100,000 after buying an additional 641,271 shares during the last quarter. Capital World Investors increased its stake in shares of Snap by 1.5% during the third quarter. Capital World Investors now owns 87,272,463 shares of the company’s stock worth $672,896,000 after acquiring an additional 1,316,448 shares during the period. Capital International Investors raised its holdings in Snap by 0.3% during the third quarter. Capital International Investors now owns 37,780,205 shares of the company’s stock worth $291,285,000 after purchasing an additional 95,989 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in Snap in the third quarter valued at about $176,697,000. Finally, Geode Capital Management LLC boosted its holdings in Snap by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 13,525,119 shares of the company’s stock valued at $108,711,000 after purchasing an additional 469,795 shares in the last quarter. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on SNAP. New Street Research lowered shares of Snap from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 28th. Piper Sandler reaffirmed a “neutral” rating on shares of Snap in a research report on Thursday, February 5th. B. Riley Securities raised Snap from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Thursday, February 5th. Morgan Stanley raised their target price on shares of Snap from $8.50 to $9.50 and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. Finally, Evercore reiterated a “mixed” rating on shares of Snap in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-two have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $8.63.

Snap Company Profile

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.