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Snap Inc (NASDAQ:SNAP) Chief Executive Officer Evan Spiegel sold 1,410,755 shares of Class A Common Stock over two days, according to a new SEC filing. The sales totaled approximately $10.2 million, with prices ranging from $7.2451 to $7.2734. The transactions come as Snap trades near its 52-week low of $7.06, having declined 34% over the past six months.
On August 13, 2025, Spiegel sold 1,375,255 shares at a weighted average price of $7.2734, for a total value of approximately $10 million. The shares were sold in multiple transactions, with prices ranging from $7.225 to $7.315. On August 14, 2025, he sold an additional 35,500 shares at a weighted average price of $7.2451, for a total value of approximately $257,000. These shares were sold in multiple transactions, with prices ranging from $7.23 to $7.2719.
The filing also indicated that on August 14, 2025, Spiegel made a charitable gift of 1,394,701 shares.
Following these transactions, Spiegel directly owns 31,737,791 shares of Snap Inc . Class A Common Stock. He also indirectly owns 3,027,844 shares held by an irrevocable trust.
The sales reported were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on September 10, 2024, as modified on May 2, 2025.
In other recent news, Snap Inc. announced the issuance of $550 million in senior notes due 2034, with an interest rate of 6.875%. The company expects net proceeds of approximately $541.3 million after accounting for discounts, commissions, and expenses. These notes are senior unsecured obligations, with interest payments starting in March 2026. In addition, Snap has plans to repurchase convertible debt, which aligns with its recent financial strategies. On the analyst front, Freedom Broker upgraded Snap’s stock rating from Hold to Buy, despite the company missing expectations in its second-quarter results. The firm cited strong user engagement but noted weaker monetization and technical issues on the advertising platform. RBC Capital, however, lowered its price target for Snap from $12 to $10, maintaining a Sector Perform rating. This adjustment comes in light of challenges in Snap’s ad platform development and expansion efforts.
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