Snap (NYSE:SNAP) Stock: Insider Robert Murphy Sells 2,000,000 Shares

Snap Inc. (NYSE:SNAP) CTO Robert Murphy sold 2,000,000 shares of the firm’s stock in a transaction on Friday, November 6th. The stock was sold at an average price of $4.99, for a total value of $9,980,000.00. Following the transaction, the chief technology officer owned 36,586,451 shares in the company, valued at $182,566,390.49. This trade represents a 5.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Snap Stock Up 6.8%

SNAP stock opened at $5.34 on Thursday. The company has a debt-to-equity ratio of 1.52, a current ratio of 3.36 and a quick ratio of 3.36. Snap Inc. has a 1-year low of $3.81 and a 1-year high of $9.13. The firm has a fifty day moving average price of $5.73 and a two-hundred day moving average price of $5.36. The firm has a market cap of $9.03 billion, a price-to-earnings ratio of -59.30 and a beta of 1.23.

Snap (NYSE:SNAP) last issued its earnings results on Wednesday, November 4th. The company reported $0.03 earnings per share for the quarter. Snap had a negative net margin of 2.30% and a negative return on equity of 7.10%. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the company earned ($0.06) earnings per share. The firm’s revenue was up 14.3% compared to the same quarter last year. Research analysts predict that Snap Inc. will post -0.02 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Private Wealth Asset Management LLC bought a new position in shares of Snap in the third quarter valued at $56,000. Focus Advisor Solutions LLC raised its holdings in shares of Snap by 81.2% during the 3rd quarter. Focus Advisor Solutions LLC now owns 48,565 shares of the company’s stock valued at $262,000 after purchasing an additional 21,758 shares in the last quarter. Landscape Capital Management L.L.C. lifted its holdings in Snap by 25.3% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 964,815 shares of the company’s stock worth $5,210,000 after purchasing an additional 194,926 shares during the last quarter. Bogart Wealth LLC boosted its holdings in shares of Snap by 60.6% during the 3rd quarter. Bogart Wealth LLC now owns 11,398 shares of the company’s stock worth $62,000 after buying an additional 4,301 shares during the period. Finally, West Family Investments Inc. bought a new stake in shares of Snap during the 3rd quarter worth $67,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SNAP shares. DA Davidson increased their price objective on shares of Snap from $5.00 to $5.25 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Mizuho upped their target price on Snap from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Rosenblatt Securities lowered their target price on Snap from $6.40 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, August 4th. Sanford C. Bernstein reiterated a “market perform” rating and set a $5.00 price target on shares of Snap in a research report on Tuesday, July 21st. Finally, Stifel Nicolaus set a $7.50 price target on Snap in a report on Tuesday, August 4th. One 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. According to MarketBeat, Snap currently has an average rating of “Hold” and a consensus target price of $7.31.

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.