Insider Selling: Snap Inc. (NYSE:SNAP) CTO Sells 1,000,000 Shares of Stock

Snap Inc. (NYSE:SNAP) CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $12.50, for a total transaction of $12,500,000.00. Following the completion of 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Snap Trading Down 3.3 %

SNAP traded down $0.41 during trading on Monday, reaching $12.12. The company had a trading volume of 22,827,506 shares, compared to its average volume of 27,682,445. The firm’s 50-day simple moving average is $10.18 and its 200 day simple moving average is $12.73. The company has a market cap of $20.11 billion, a price-to-earnings ratio of -20.97 and a beta of 0.99. Snap Inc. has a 12-month low of $8.29 and a 12-month high of $17.90. 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 (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. Snap’s revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.21) EPS. Equities research analysts anticipate that Snap Inc. will post -0.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SNAP. Citigroup decreased their price target on shares of Snap from $16.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Argus raised shares of Snap to a “hold” rating in a research report on Thursday, August 8th. Bank of America raised their price target on shares of Snap from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group raised their price target on shares of Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Snap currently has a consensus rating of “Hold” and a consensus price target of $14.25.

Hedge Funds Weigh In On Snap

Institutional investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new position in Snap during the 3rd quarter valued at about $29,000. Paladin Wealth LLC acquired a new stake in shares of Snap during the 3rd quarter valued at about $30,000. Hollencrest Capital Management acquired a new stake in shares of Snap during the 2nd quarter valued at about $33,000. Blue Trust Inc. lifted its holdings in shares of Snap by 354.1% during the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after buying an additional 1,682 shares during the last quarter. Finally, Rothschild Investment LLC acquired a new stake in shares of Snap during the 2nd quarter valued at about $40,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

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.