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

by · The Cerbat Gem

Snap Inc. (NYSE:SNAP – Get Free Report) CTO Robert Murphy sold 1,000,000 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $5.27, for a total transaction of $5,270,000.00. Following the transaction, the chief technology officer owned 50,613,777 shares in the company, valued at approximately $266,734,604.79. The trade was a 1.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Snap Stock Performance

Shares of NYSE SNAP traded up $0.05 during mid-day trading on Tuesday, hitting $5.24. The company had a trading volume of 87,764,730 shares, compared to its average volume of 58,501,992. Snap Inc. has a 12 month low of $5.09 and a 12 month high of $11.26. The firm has a market cap of $9.01 billion, a P/E ratio of -19.41 and a beta of 0.83. The business’s 50-day simple moving average is $7.49 and its 200-day simple moving average is $7.74. The company has a debt-to-equity ratio of 1.53, a current ratio of 3.56 and a quick ratio of 3.56.

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

Hedge Funds Weigh In On Snap

Several institutional investors have recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. acquired a new position in Snap in the third quarter valued at about $176,697,000. Junto Capital Management LP bought a new position in shares of Snap in the third quarter valued at approximately $29,071,000. Voloridge Investment Management LLC boosted its holdings in shares of Snap by 53.3% in the 3rd quarter. Voloridge Investment Management LLC now owns 10,300,911 shares of the company’s stock worth $79,420,000 after acquiring an additional 3,582,223 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Snap by 537.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,150,134 shares of the company’s stock worth $33,492,000 after acquiring an additional 3,499,578 shares during the last quarter. Finally, Holocene Advisors LP increased its holdings in Snap by 895.9% during the 3rd quarter. Holocene Advisors LP now owns 3,560,234 shares of the company’s stock valued at $27,449,000 after purchasing an additional 3,202,737 shares in the last quarter. 47.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. UBS Group set a $7.30 price target on shares of Snap in a research note on Tuesday. New Street Research downgraded shares of Snap from a “buy” rating to a “neutral” rating in a report on Tuesday, October 28th. JPMorgan Chase & Co. decreased their target price on shares of Snap from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Thursday, February 5th. The Goldman Sachs Group dropped their price target on shares of Snap from $9.50 to $8.50 and set a “neutral” rating for the company in a research report on Tuesday, January 13th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $8.00 price target on shares of Snap in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-two have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $8.63.

View Our Latest Stock Analysis on SNAP

Snap Company Profile

(Get Free Report)

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.

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