Insider Selling: Snap Inc. (NYSE:SNAP) CTO Sells $14,270,000.00 in Stock

Snap Inc. (NYSE:SNAP) CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $14.27, for a total transaction of $14,270,000.00. Following the completion of the sale, the chief technology officer now owns 59,894,865 shares of the company’s stock, valued at $854,699,723.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Snap Stock Performance

Shares of SNAP stock opened at $16.25 on Friday. The firm has a market cap of $26.81 billion, a price-to-earnings ratio of -20.06 and a beta of 1.02. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 3.76. Snap Inc. has a 52 week low of $7.86 and a 52 week high of $17.90. The firm’s 50-day simple moving average is $11.73 and its two-hundred day simple moving average is $13.06.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.10. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.12 billion. Snap had a negative net margin of 26.99% and a negative return on equity of 46.62%. As a group, equities analysts forecast that Snap Inc. will post -0.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Truist Financial raised their price target on shares of Snap from $12.00 to $16.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Rosenblatt Securities raised their price objective on shares of Snap from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Stifel Nicolaus raised their price objective on shares of Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Friday, April 26th. TD Cowen raised their price objective on shares of Snap from $11.00 to $14.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Finally, Royal Bank of Canada raised their price objective on shares of Snap from $13.00 to $16.00 and gave the company a “sector perform” rating in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $14.79.

Hedge Funds Weigh In On Snap

Large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Snap by 1.5% in the third quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company’s stock worth $818,067,000 after purchasing an additional 1,352,655 shares in the last quarter. Jump Financial LLC increased its stake in shares of Snap by 565.4% in the third quarter. Jump Financial LLC now owns 262,952 shares of the company’s stock worth $2,343,000 after purchasing an additional 223,432 shares in the last quarter. Allworth Financial LP increased its stake in shares of Snap by 161.6% in the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after purchasing an additional 1,708 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new position in shares of Snap in the third quarter worth about $423,000. Finally, Korea Investment CORP grew its stake in Snap by 191.7% during the third quarter. Korea Investment CORP now owns 415,635 shares of the company’s stock valued at $3,703,000 after acquiring an additional 273,156 shares in the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

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.