Snap (NYSE:SNAP) CTO Robert Murphy Sells 1,000,000 Shares

Snap Inc. (NYSE:SNAP) CTO Robert Murphy sold 1,000,000 shares of Snap stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $8.00, for a total transaction of $8,000,000.00. Following the transaction, the chief technology officer owned 51,911,126 shares of the company’s stock, valued at approximately $415,289,008. The trade was a 1.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Snap Stock Up 3.5%

SNAP stock opened at $9.07 on Thursday. The company’s 50 day simple moving average is $7.93 and its 200-day simple moving average is $8.27. The firm has a market capitalization of $15.32 billion, a PE ratio of -31.26 and a beta of 0.89. Snap Inc. has a 12 month low of $6.90 and a 12 month high of $13.28. The company has a debt-to-equity ratio of 1.57, a current ratio of 3.67 and a quick ratio of 3.67.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.12). Snap had a negative return on equity of 21.61% and a negative net margin of 8.60%.The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. Snap has set its Q4 2025 guidance at EPS. Equities analysts expect that Snap Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Trading of Snap

A number of hedge funds have recently added to or reduced their stakes in the business. Orion Porfolio Solutions LLC grew its holdings in Snap by 174.7% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 51,963 shares of the company’s stock valued at $401,000 after buying an additional 33,050 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Snap by 27.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,117,858 shares of the company’s stock worth $47,224,000 after acquiring an additional 1,335,830 shares during the period. Cresset Asset Management LLC boosted its position in shares of Snap by 66.2% in the third quarter. Cresset Asset Management LLC now owns 30,835 shares of the company’s stock worth $238,000 after acquiring an additional 12,281 shares during the last quarter. Contrarius Group Holdings Ltd purchased a new stake in Snap in the third quarter valued at approximately $10,256,000. Finally, Quantbot Technologies LP increased its position in Snap by 54.4% during the third quarter. Quantbot Technologies LP now owns 749,724 shares of the company’s stock worth $5,780,000 after purchasing an additional 264,156 shares during the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SNAP. Piper Sandler upped their price objective on Snap from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Cantor Fitzgerald lifted their price objective on Snap from $7.00 to $9.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Sanford C. Bernstein upped their target price on shares of Snap from $9.00 to $10.00 and gave the company a “market perform” rating in a report on Tuesday, July 22nd. Wells Fargo & Company raised their price target on shares of Snap from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 6th. Finally, Bank of America lowered their price target on shares of Snap from $10.00 to $9.50 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $35.06.

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.