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

Snap Inc. (NYSE:SNAP) CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $12.50, for a total value of $12,500,000.00. Following the sale, the chief technology officer now directly owns 57,210,989 shares of the company’s stock, valued at $715,137,362.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Snap Price Performance

Shares of NYSE:SNAP opened at $12.12 on Tuesday. The company has a market capitalization of $20.11 billion, a P/E ratio of -20.90 and a beta of 0.99. The company’s 50-day moving average is $10.23 and its 200 day moving average is $12.73. The company has a debt-to-equity ratio of 1.63, a quick ratio of 3.98 and a current ratio of 4.04. Snap Inc. has a fifty-two week low of $8.29 and a fifty-two week high of $17.90.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the company earned ($0.21) earnings per share. The company’s quarterly revenue was up 15.4% on a year-over-year basis. On average, equities research analysts forecast that Snap Inc. will post -0.47 earnings per share for the current year.

Hedge Funds Weigh In On Snap

Several institutional investors and hedge funds have recently bought and sold shares of SNAP. TB Alternative Assets Ltd. lifted its position in shares of Snap by 105.6% during the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after buying an additional 4,098,847 shares during the last quarter. Dynamic Advisor Solutions LLC purchased a new position in shares of Snap in the third quarter worth about $832,000. Exchange Traded Concepts LLC raised its position in shares of Snap by 38.7% in the third quarter. Exchange Traded Concepts LLC now owns 784,982 shares of the company’s stock valued at $8,399,000 after purchasing an additional 219,111 shares during the period. APG Asset Management N.V. lifted its stake in shares of Snap by 3.9% during the 2nd quarter. APG Asset Management N.V. now owns 2,957,491 shares of the company’s stock valued at $45,835,000 after buying an additional 112,135 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in Snap by 17.0% in the 3rd quarter. Vontobel Holding Ltd. now owns 327,705 shares of the company’s stock worth $3,506,000 after buying an additional 47,717 shares during the period. 47.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on SNAP shares. Evercore ISI raised their price objective on shares of Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Susquehanna reduced their price target on shares of Snap from $15.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. B. Riley increased their price objective on shares of Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Benchmark restated a “hold” rating on shares of Snap in a research note on Friday, October 25th. Finally, The Goldman Sachs Group upped their price target on Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $14.25.

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.