Snap (NYSE:SNAP) CTO Sells $5,270,000.00 in Stock

Snap Inc. (NYSE:SNAP) CTO Robert Murphy sold 1,000,000 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $5.27, for a total value of $5,270,000.00. Following the sale, the chief technology officer owned 50,613,777 shares in the company, valued at $266,734,604.79. The trade was a 1.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Snap Price Performance

Shares of Snap stock traded up $0.05 during trading on Tuesday, reaching $5.24. The company’s stock had a trading volume of 87,764,730 shares, compared to its average volume of 58,501,992. The stock has a 50-day moving average price of $7.49 and a two-hundred day moving average price of $7.74. The stock has a market capitalization of $9.01 billion, a P/E ratio of -19.41 and a beta of 0.83. The company has a current ratio of 3.56, a quick ratio of 3.56 and a debt-to-equity ratio of 1.53. Snap Inc. has a one year low of $5.09 and a one year high of $11.26.

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

Institutional Investors Weigh In On Snap

Hedge funds have recently modified their holdings of the business. Empowered Funds LLC grew its position in shares of Snap by 13.3% in the 1st quarter. Empowered Funds LLC now owns 40,393 shares of the company’s stock valued at $352,000 after purchasing an additional 4,754 shares during the period. Blue Trust Inc. grew its holdings in shares of Snap by 61.5% during the second quarter. Blue Trust Inc. now owns 6,633 shares of the company’s stock worth $58,000 after buying an additional 2,525 shares in the last quarter. Apollon Wealth Management LLC raised its position in Snap by 9.2% in the 2nd quarter. Apollon Wealth Management LLC now owns 15,934 shares of the company’s stock valued at $138,000 after buying an additional 1,340 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Snap by 2.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 70,608 shares of the company’s stock worth $614,000 after purchasing an additional 1,743 shares in the last quarter. Finally, CWM LLC increased its stake in Snap by 39.8% in the 2nd quarter. CWM LLC now owns 257,763 shares of the company’s stock valued at $2,240,000 after buying an additional 73,393 shares during the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SNAP shares. Cantor Fitzgerald reduced their price objective on Snap from $9.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th. New Street Research downgraded Snap from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 28th. B. Riley Financial upgraded shares of Snap from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Thursday, February 5th. UBS Group set a $7.30 price objective on shares of Snap in a report on Tuesday. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $8.00 price objective on shares of Snap in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twenty-two have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Snap currently has a consensus rating of “Hold” and a consensus price target of $8.63.

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.