Snap Inc’s recent filing unveils that its General Counsel O’Sullivan Michael J. unloaded Company’s shares for reported $0.21 million on Mar 28 ’24. In the deal valued at $11.53 per share,18,000 shares were sold. As a result of this transaction, O’Sullivan Michael J. now holds 474,812 shares worth roughly $5.28 million.
Then, Andersen Derek sold 96,953 shares, generating $1,065,979 in total proceeds. Upon selling the shares at $10.99, the Chief Financial Officer now owns 2,534,689 shares.
Before that, O’Sullivan Michael J. sold 59,641 shares. Snap Inc shares valued at $655,884 were divested by the General Counsel at a price of $11.00 per share. As a result of the transaction, O’Sullivan Michael J. now holds 1,267,193 shares, worth roughly $14.08 million.
Piper Sandler reiterated its Snap Inc [SNAP] rating to a Neutral in a research note published on January 17, 2024; the price target was $17. A number of analysts have revised their coverage, including BMO Capital Markets’s analysts, who began to cover the stock in early January with a ‘”an Outperform”‘ rating. Guggenheim revised its rating on December 18, 2023. It rated SNAP as “a Buy” which previously was an “a Neutral”.
Price Performance Review of SNAP
On Monday, Snap Inc [NYSE:SNAP] saw its stock jump 1.00% to $11.11. Over the last five days, the stock has lost -1.24%. Snap Inc shares have fallen nearly -34.38% since the year began. Nevertheless, the stocks have risen 6.93% over the past one year. While a 52-week high of $17.90 was reached on 01/09/24, a 52-week low of $7.86 was recorded on 02/23/24. SMA at 50 days reached $12.11, while 200 days put it at $11.97. A total of 14.65 million shares were traded, compared to the trading of 10.55 million shares in the previous session.
Levels Of Support And Resistance For SNAP Stock
The 24-hour chart illustrates a support level at 10.97, which if violated will result in even more drops to 10.82. On the upside, there is a resistance level at 11.31. A further resistance level may holdings at 11.50. The Relative Strength Index (RSI) on the 14-day chart is 42.74, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.17, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 62.13%. Stochastics %K at 31.37% indicates the stock is a holding.
How much short interest is there in Snap Inc?
A steep rise in short interest was recorded in Snap Inc stocks on Mar 15, 2024, dropping by -4.4 million shares to a total of 56.52 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 60.92 million shares. There was a decline of -7.78%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.26% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.99.
