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 $77,208 were purchased by Coles Joanna on Oct 30 ’24. At $12.00 per share, Coles Joanna acquired 6,434 shares.
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Also, O’Sullivan Michael J. sold 18,000 shares, netting a total of over 194,623 in proceeds. Following the sale of shares at $10.81 each, the insider now holds 489,058 shares.
Before that, Michael O’Sullivan Living Trus had added 18,000 shares to its account. In a trade valued at $192,600, the Officer bought Snap Inc shares for $10.70 each.
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 surge of approximately 24.33%. Over the course of the year, Snap Inc shares have dropped approximately -25.46%. 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 $10.06, while a 200-day SMA reached $12.61. Nevertheless, trading volume fell to 102.21 million shares from 59.7 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 11.74, which, if violated, would cause prices to drop to 10.87. In the upper region, resistance lies at 13.16. The next price resistance is at 13.71. RSI (Relative Strength Index) is 75.34 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.67, which suggests the price will decrease in the coming days. Percent R is at 7.27%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
