The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Snap Inc shares valued at $194,623 were sold by O’Sullivan Michael J. on Sep 30 ’24. At $10.81 per share, O’Sullivan Michael J. sold 18,000 shares. The insider’s holdings dropped to 489,058 shares worth approximately $5.26 million following the completion of this transaction.
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Also, Michael O’Sullivan Living Trus purchased 18,000 shares, netting a total of over 192,600 in proceeds.
Before that, Andersen Derek had sold 97,608 shares from its account. In a trade valued at $906,905, the Chief Financial Officer traded Snap Inc shares for $9.29 each. Upon closing the transaction, the insider’s holdings decreased to 97,608 shares, worth approximately $24.62 million.
As published in their initiating research note from B. Riley Securities on September 20, 2024, Snap Inc [SNAP] has been a Neutral and the price target has been revised to $11. Analysts at Cantor Fitzgerald started covering the stock with ‘”a Neutral”‘ outlook in a report released in early September. As of August 02, 2024, HSBC Securities has decreased its “Buy” rating to a “Hold” for SNAP. Earlier on July 23, 2024, Morgan Stanley upgraded its rating. Their new recommendation was “an Equal-weight” for SNAP stock which previously was a “an Underweight”.
Analyzing SNAP Stock Performance
During the last five days, there has been a surge of approximately 0.75%. Over the course of the year, Snap Inc shares have dropped approximately -36.44%. Shares of the company reached a 52-week high of $17.75 on 01/09/24 and a 52-week low of $8.29 on 08/07/24. A 50-day SMA is recorded $9.75, while a 200-day SMA reached $12.90. Nevertheless, trading volume fell to 24.28 million shares from 16.31 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 10.59, which, if violated, would cause prices to drop to 10.41. In the upper region, resistance lies at 11.02. The next price resistance is at 11.27. RSI (Relative Strength Index) is 55.41 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.17, which suggests the price will decrease in the coming days. Percent R is at 49.17%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
