Snap Inc’s recently made public that its General Counsel O’Sullivan Michael J. unloaded Company’s shares for reported $0.19 million on Sep 30 ’24. In the deal valued at $10.81 per share,18,000 shares were sold. As a result of this transaction, O’Sullivan Michael J. now holds 489,058 shares worth roughly $5.13 million.
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Then, Michael O’Sullivan Living Trus bought 18,000 shares, generating $192,600 in total proceeds.
Before that, Andersen Derek sold 97,608 shares. Snap Inc shares valued at $906,905 were divested by the Chief Financial Officer at a price of $9.29 per share. As a result of the transaction, Andersen Derek now holds 2,287,970 shares, worth roughly $24.0 million.
B. Riley Securities initiated its Snap Inc [SNAP] rating to a Neutral in a research note published on September 20, 2024; the price target was $11. A number of analysts have revised their coverage, including Cantor Fitzgerald’s analysts, who began to cover the stock in early September with a ‘”a Neutral”‘ rating. HSBC Securities also remained covering SNAP and has decreased its forecast on August 02, 2024 with a “Hold” recommendation from previously “Buy” rating. Morgan Stanley revised its rating on July 23, 2024. It rated SNAP as “an Equal-weight” which previously was an “an Underweight”.
Price Performance Review of SNAP
On Friday, Snap Inc [NYSE:SNAP] saw its stock jump 0.29% to $10.49. Over the last five days, the stock has lost -5.75%. Snap Inc shares have fallen nearly -38.04% since the year began. Nevertheless, the stocks have risen 9.27% over the past one year. While a 52-week high of $17.90 was reached on 01/09/24, a 52-week low of $8.29 was recorded on 08/07/24. SMA at 50 days reached $9.83, while 200 days put it at $12.85.
Levels Of Support And Resistance For SNAP Stock
The 24-hour chart illustrates a support level at 10.39, which if violated will result in even more drops to 10.29. On the upside, there is a resistance level at 10.62. A further resistance level may holdings at 10.74. The Relative Strength Index (RSI) on the 14-day chart is 50.07, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.16, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 75.66%. Stochastics %K at 32.11% 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 2024-09-30, growing by 16.36 million shares to a total of 69.76 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 53.4 million shares. There was a rise of 23.45%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on July 16, 2024 when Wolfe Research began covering the stock and recommended ‘”a Peer perform”‘ rating .
