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

Snap Inc. (NYSE:SNAP) CTO Robert Murphy sold 1,000,000 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $5.27, for a total value of $5,270,000.00. Following the completion of the sale, the chief technology officer directly owned 50,613,777 shares of the company’s stock, valued at approximately $266,734,604.79. The trade was a 1.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Snap Price Performance

Shares of SNAP opened at $5.24 on Wednesday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 3.56 and a current ratio of 3.56. The firm has a market cap of $9.01 billion, a PE ratio of -19.41 and a beta of 0.83. The firm’s 50 day moving average price is $7.49 and its 200 day moving average price is $7.74. Snap Inc. has a twelve month low of $5.09 and a twelve month high of $11.26.

Snap (NYSE:SNAP) last released its quarterly earnings data on Wednesday, February 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.12). The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.70 billion. Snap had a negative net margin of 7.76% and a negative return on equity of 20.72%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.01 EPS. As a group, research analysts expect that Snap Inc. will post -0.3 EPS for the current fiscal year.

Analysts Set New Price Targets

SNAP has been the topic of a number of recent analyst reports. B. Riley Financial raised Snap from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Thursday, February 5th. BNP Paribas Exane initiated coverage on Snap in a research report on Wednesday, January 14th. They set a “strong sell” rating for the company. Sanford C. Bernstein reissued a “market perform” rating and issued a $8.00 price target on shares of Snap in a research report on Thursday, February 5th. JPMorgan Chase & Co. reduced their price objective on shares of Snap from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Thursday, February 5th. Finally, New Street Research downgraded shares of Snap from a “buy” rating to a “neutral” rating in a report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-two have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $8.63.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP raised its stake in shares of Snap by 92.3% in the third quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock valued at $25,000 after acquiring an additional 1,581 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Snap in the 4th quarter worth approximately $29,000. EverSource Wealth Advisors LLC raised its position in Snap by 561.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock worth $29,000 after purchasing an additional 3,071 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Snap during the 3rd quarter worth $33,000. Finally, Banque Cantonale Vaudoise bought a new position in Snap in the 3rd quarter valued at $39,000. Institutional investors own 47.52% of the company’s stock.

About Snap

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.