Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Snap Inc shares valued at $32,182 were sold by Morrow Rebecca on Dec 16 ’24. At $11.44 per share, Morrow Rebecca sold 2,812 shares. The insider’s holdings dropped to 430,252 shares worth approximately $4.83 million following the completion of this transaction.
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Also, Andersen Derek sold 94,164 shares, netting a total of over 1,077,453 in proceeds. Following the sale of shares at $11.44 each, the insider now holds 2,193,806 shares.
Before that, Andersen Derek had sold 17,789 shares from its account. In a trade valued at $213,491, the Chief Financial Officer traded Snap Inc shares for $12.00 each. Upon closing the transaction, the insider’s holdings decreased to 17,789 shares, worth approximately $24.41 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 -6.50%. Over the course of the year, Snap Inc shares have dropped approximately -33.73%. 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 $11.37, while a 200-day SMA reached $12.31. Nevertheless, trading volume fell to 49.26 million shares from 19.28 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 10.66, which, if violated, would cause prices to drop to 10.11. In the upper region, resistance lies at 11.97. The next price resistance is at 12.71. RSI (Relative Strength Index) is 44.01 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.71, which suggests the price will decrease in the coming days. Percent R is at 83.37%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
