Snap (NYSE:SNAP) CTO Sells 2,000,000 Shares of Company Stock

Snap Inc. (NYSE:SNAP) CTO Robert Murphy sold 2,000,000 shares of the company’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $5.02, for a total transaction of $10,040,000.00. Following the sale, the chief technology officer directly owned 34,586,451 shares of the company’s stock, valued at approximately $173,623,984.02. This trade represents a 5.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Snap Stock Down 1.1%

NYSE SNAP traded down $0.06 during trading hours on Tuesday, hitting $5.00. The company had a trading volume of 33,487,373 shares, compared to its average volume of 45,360,528. Snap Inc. has a fifty-two week low of $3.81 and a fifty-two week high of $9.13. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 1.52. The firm’s 50 day moving average is $5.73 and its 200 day moving average is $5.37.

Snap (NYSE:SNAP) last released its quarterly earnings data 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 analyst estimates 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 was up 14.3% compared to the same quarter last year. During the same period last year, the company posted ($0.06) earnings per share. On average, research analysts anticipate that Snap Inc. will post -0.03 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Snap in a research note on Thursday, October 15th. Stifel Nicolaus set a $7.50 price target on Snap in a research report on Tuesday, August 4th. BMO Capital Markets restated an “outperform” rating on shares of Snap in a report on Tuesday, August 4th. Wells Fargo & Company upped their price target on Snap from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 4th. Finally, Citizens Jmp reaffirmed a “market perform” rating on shares of Snap in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Snap presently has an average rating of “Hold” and a consensus price target of $7.31.

Institutional Trading of Snap

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Landscape Capital Management L.L.C. grew its holdings in Snap by 25.3% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 964,815 shares of the company’s stock worth $5,210,000 after acquiring an additional 194,926 shares in the last quarter. Bogart Wealth LLC increased its position in shares of Snap by 60.6% in the 3rd quarter. Bogart Wealth LLC now owns 11,398 shares of the company’s stock worth $62,000 after purchasing an additional 4,301 shares during the last quarter. West Family Investments Inc. acquired a new stake in shares of Snap in the 3rd quarter valued at about $67,000. Russell Investments Group Ltd. raised its stake in shares of Snap by 9.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,228,614 shares of the company’s stock valued at $22,765,000 after purchasing an additional 375,301 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Snap in the 3rd quarter valued at about $197,000. Institutional investors 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.