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 $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 $4.96 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 $23.22 million.
As published in a research note from JMP Securities on October 23, 2024, Snap Inc [SNAP] has been rated up from a Mkt perform to a Mkt outperform and the price target has been revised to $17. Analysts at B. Riley Securities started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid September. As of September 05, 2024, Cantor Fitzgerald has initiated its “Neutral” rating for SNAP. Earlier on August 02, 2024, HSBC Securities downgraded its rating. Their new recommendation was “a Hold” for SNAP stock which previously was a “a Buy”.
Analyzing SNAP Stock Performance
During the last five days, there has been a drop of approximately -5.67%. Over the course of the year, Snap Inc shares have dropped approximately -40.05%. 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 $9.89, while a 200-day SMA reached $12.75. Nevertheless, trading volume fell to 32.44 million shares from 28.94 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 9.98, which, if violated, would cause prices to drop to 9.81. In the upper region, resistance lies at 10.40. The next price resistance is at 10.65. RSI (Relative Strength Index) is 44.72 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.47, which suggests the price will decrease in the coming days. Percent R is at 83.40%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
