Snap (NYSE:SNAP) Stock: Insider Robert Murphy Sells 2,000,000 Shares

Snap Inc. (NYSE:SNAP) CTO Robert Murphy sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $4.99, for a total transaction of $9,980,000.00. Following the sale, the chief technology officer owned 36,586,451 shares of the company’s stock, valued at $182,566,390.49. This trade represents a 5.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Snap Stock Performance

Shares of NYSE:SNAP traded down $0.06 during trading on Tuesday, reaching $5.00. 33,487,373 shares of the stock were exchanged, compared to its average volume of 45,360,528. Snap Inc. has a 12 month low of $3.81 and a 12 month high of $9.13. The stock has a 50-day moving average price of $5.73 and a 200-day moving average price of $5.37. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 1.52.

Snap (NYSE:SNAP) last posted its earnings results on Wednesday, November 4th. The company reported $0.03 EPS for the quarter. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. Snap had a negative return on equity of 7.10% and a negative net margin of 2.30%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.06) earnings per share. As a group, analysts expect that Snap Inc. will post -0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SNAP shares. Truist Financial decreased their price objective on Snap from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Tuesday, August 4th. Citizens Jmp reissued a “market perform” rating on shares of Snap in a report on Tuesday, August 4th. Freedom Capital raised Snap from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Evercore set a $8.00 target price on shares of Snap in a research report on Tuesday, August 4th. Finally, Wall Street Zen upgraded shares of Snap from a “hold” rating to a “buy” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty-three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.31.

Institutional Investors Weigh In On Snap

A number of large investors have recently modified their holdings of the business. Signaturefd LLC lifted its holdings in shares of Snap by 68.9% in the third quarter. Signaturefd LLC now owns 5,211 shares of the company’s stock worth $28,000 after acquiring an additional 2,126 shares during the last quarter. Jacobi Capital Management LLC bought a new stake in shares of Snap during the 3rd quarter valued at approximately $30,000. Fifth Third Bancorp grew its holdings in shares of Snap by 6,678.0% during the 1st quarter. Fifth Third Bancorp now owns 6,778 shares of the company’s stock valued at $31,000 after purchasing an additional 6,678 shares during the last quarter. NFSG Corp grew its holdings in shares of Snap by 52.7% during the 1st quarter. NFSG Corp now owns 8,400 shares of the company’s stock valued at $39,000 after purchasing an additional 2,900 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Snap by 135.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 8,525 shares of the company’s stock worth $39,000 after purchasing an additional 4,907 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

About Snap

Snap Inc. is a technology company best known for Snapchat, a mobile application for visual communication. The company’s products and services help people share photos and videos, message friends, and explore content from creators and publishers. Snapchat features include Stories, Spotlight for short-form video, Snap Map, and augmented reality tools such as interactive Lenses. Snap also provides advertising solutions to businesses and develops camera-related products and services, including its Spectacles smart glasses and Snap AR platform.