Snap Inc. (NYSE:SNAP – Get Free Report) CTO Robert Murphy sold 2,000,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $5.44, for a total value of $10,880,000.00. Following the completion of the sale, the chief technology officer owned 47,012,324 shares in the company, valued at approximately $255,747,042.56. The trade was a 4.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Snap Trading Up 3.1%
Shares of NYSE SNAP traded up $0.17 during midday trading on Friday, hitting $5.53. The company’s stock had a trading volume of 37,901,057 shares, compared to its average volume of 47,503,608. The company has a current ratio of 3.53, a quick ratio of 3.56 and a debt-to-equity ratio of 1.67. The business’s 50 day moving average is $5.19 and its two-hundred day moving average is $6.50. Snap Inc. has a 12-month low of $3.81 and a 12-month high of $10.41. The firm has a market cap of $9.33 billion, a P/E ratio of -23.02 and a beta of 1.05.
Snap (NYSE:SNAP – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.14). The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Snap had a negative return on equity of 18.92% and a negative net margin of 6.72%.The company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) earnings per share. As a group, equities research analysts expect that Snap Inc. will post -0.12 EPS for the current year.
Institutional Trading of Snap
Analyst Upgrades and Downgrades
Several research analysts have commented on SNAP shares. KeyCorp upgraded Snap from a “sector weight” rating to an “overweight” rating in a report on Monday, April 27th. TD Cowen started coverage on Snap in a report on Monday, April 27th. They set a “buy” rating on the stock. Loop Capital set a $8.00 price objective on Snap in a report on Monday, February 23rd. Morgan Stanley reduced their price objective on Snap from $9.50 to $6.50 and set an “equal weight” rating on the stock in a report on Sunday, February 22nd. Finally, Barclays upgraded Snap from an “overweight” rating to an “overweight” rating in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Snap has an average rating of “Hold” and an average target price of $7.91.
About Snap
Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.
Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.
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