Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Snap Inc shares valued at $207,594 were sold by O’Sullivan Michael J. on Mar 28 ’24. At $11.53 per share, O’Sullivan Michael J. sold 18,000 shares. The insider’s holdings dropped to 474,812 shares worth approximately $5.39 million following the completion of this transaction.
Also, Andersen Derek sold 96,953 shares, netting a total of over 1,065,979 in proceeds. Following the sale of shares at $10.99 each, the insider now holds 2,534,689 shares.
Before that, O’Sullivan Michael J. had sold 59,641 shares from its account. In a trade valued at $655,884, the General Counsel traded Snap Inc shares for $11.00 each. Upon closing the transaction, the insider’s holdings decreased to 59,641 shares, worth approximately $14.4 million.
As published in a research note from Piper Sandler on January 17, 2024, Snap Inc [SNAP] has been retained to a Neutral and the price target has been revised to $17. Analysts at BMO Capital Markets started covering the stock with ‘”an Outperform”‘ outlook in a report released in early January. Earlier on December 18, 2023, Guggenheim upgraded its rating. Their new recommendation was “a Buy” for SNAP stock which previously was a “a Neutral”.
Analyzing SNAP Stock Performance
During the last five days, there has been a surge of approximately 3.09%. Over the course of the year, Snap Inc shares have dropped approximately -32.90%. Shares of the company reached a 52-week high of $17.75 on 01/09/24 and a 52-week low of $10.49 on 02/23/24. A 50-day SMA is recorded $11.78, while a 200-day SMA reached $11.98. Nevertheless, trading volume fell to 24.5 million shares from 12.71 million shares the previous day.
Support And Resistance Levels for Snap Inc (SNAP)
According to the 24-hour chart, there is a support level at 11.00, which, if violated, would cause prices to drop to 10.64. In the upper region, resistance lies at 11.57. The next price resistance is at 11.77. RSI (Relative Strength Index) is 49.12 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.06, which suggests the price will decrease in the coming days. Percent R is at 37.77%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Snap Inc subject to short interest?
Stocks of Snap Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by -4.4 million shares to 56.52 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 60.92 million shares. A decline of -7.78% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.99 of the overall float, the days-to-cover ratio (short ratio) decline to 1.99.
