Insider Selling: Snap Inc. (NYSE:SNAP) CTO Sells $9,040,000.00 in Stock

Snap Inc. (NYSE:SNAP) CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the completion of the transaction, the chief technology officer now owns 55,818,548 shares in the company, valued at approximately $504,599,673.92. This represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Snap Price Performance

Shares of NYSE:SNAP opened at $8.64 on Friday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. Snap Inc. has a one year low of $8.29 and a one year high of $17.33. The company has a 50-day simple moving average of $10.71 and a 200-day simple moving average of $10.79. The stock has a market capitalization of $14.65 billion, a price-to-earnings ratio of -20.56 and a beta of 0.92.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. On average, analysts predict that Snap Inc. will post -0.3 EPS for the current year.

Hedge Funds Weigh In On Snap

Large investors have recently bought and sold shares of the company. Checchi Capital Advisers LLC boosted its holdings in shares of Snap by 3.0% in the fourth quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company’s stock valued at $335,000 after acquiring an additional 901 shares in the last quarter. HCR Wealth Advisors boosted its holdings in Snap by 3.9% in the 4th quarter. HCR Wealth Advisors now owns 25,016 shares of the company’s stock valued at $269,000 after purchasing an additional 934 shares in the last quarter. Captrust Financial Advisors increased its position in Snap by 8.0% during the 4th quarter. Captrust Financial Advisors now owns 13,918 shares of the company’s stock worth $150,000 after purchasing an additional 1,030 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Snap by 1.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 61,365 shares of the company’s stock worth $661,000 after buying an additional 1,033 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of Snap by 3.1% in the 4th quarter. Empowered Funds LLC now owns 35,639 shares of the company’s stock valued at $384,000 after buying an additional 1,055 shares during the period. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Citigroup upped their price target on Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating and set a $640.00 target price on shares of Snap in a report on Thursday, December 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $16.00 target price on shares of Snap in a research report on Monday, January 27th. Citizens Jmp lowered shares of Snap from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Barclays reaffirmed an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $36.87.

Snap Company Profile

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.