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

Snap Inc. (NYSE:SNAP) CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $14.27, for a total transaction of $14,270,000.00. Following the transaction, the chief technology officer now directly owns 59,894,865 shares of the company’s stock, valued at $854,699,723.55. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Snap Price Performance

Shares of NYSE:SNAP opened at $16.30 on Friday. The company’s fifty day moving average price is $11.62 and its 200-day moving average price is $13.02. The company has a debt-to-equity ratio of 1.55, a current ratio of 3.76 and a quick ratio of 4.39. The firm has a market capitalization of $26.91 billion, a price-to-earnings ratio of -20.12 and a beta of 1.02. Snap Inc. has a one year low of $7.86 and a one year high of $17.90.

Snap (NYSE:SNAP) last announced its earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.10. Snap had a negative net margin of 26.99% and a negative return on equity of 46.62%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.12 billion. On average, equities research analysts anticipate that Snap Inc. will post -0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Snap

Institutional investors have recently modified their holdings of the company. NBC Securities Inc. boosted its stake in Snap by 2,580.4% in the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after buying an additional 1,445 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Snap by 161.6% in the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after purchasing an additional 1,708 shares in the last quarter. ICA Group Wealth Management LLC bought a new position in shares of Snap during the 4th quarter valued at $51,000. Rakuten Securities Inc. purchased a new position in Snap in the 4th quarter worth $73,000. Finally, Westpac Banking Corp lifted its stake in Snap by 108.7% in the fourth quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock worth $81,000 after purchasing an additional 2,506 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley boosted their target price on Snap from $11.00 to $12.00 and gave the company an “underweight” rating in a research note on Friday, April 26th. HSBC upgraded Snap from a “reduce” rating to a “buy” rating in a research note on Friday, April 26th. TD Cowen lifted their target price on shares of Snap from $11.00 to $14.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Truist Financial upped their price target on shares of Snap from $12.00 to $16.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Finally, Roth Mkm reiterated a “neutral” rating and issued a $14.00 price objective on shares of Snap in a research note on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Snap presently has a consensus rating of “Hold” and a consensus target price of $14.79.

About Snap

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.