Intel stock spikes after report of possible US government stake
Snap Inc NASDAQ:SNAP CEO Evan Spiegel sold a total of 2,737,150 shares of Class A Common Stock on August 11 and 12. The sales, conducted in multiple transactions, ranged in price from $7.125 to $7.465 per share, resulting in total proceeds of approximately $20 million. The transactions occurred with the stock trading near its 52-week low of $7.08, amid a challenging period that has seen shares decline over 32% in the past six months. According to SNAP">InvestingPro analysis, the stock appears undervalued at current levels.
On August 11, Spiegel sold 1,347,500 shares at a weighted average price of $7.4176, for a total of $10,000,000. The following day, August 12, he sold 1,389,650 shares at a weighted average price of $7.196, for a total of $9,995,137. InvestingPro subscribers can access detailed insider trading patterns and 10+ additional exclusive insights about SNAP’s financial health and future prospects.
Following these transactions, Spiegel directly owns 33,148,546 shares of Snap Inc. Class A Common Stock. He also indirectly owns 3,027,844 shares through a trust where he acts as trustee but has no financial interest.
The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on September 10, 2024, and modified on May 2, 2025.
In other recent news, Snap Inc. has issued $550 million in senior notes with an interest rate of 6.875% due in 2034. These senior unsecured obligations will begin paying interest semi-annually starting in March 2026. The company expects net proceeds of approximately $541.3 million after deductions. In addition to this, Freedom Broker upgraded Snap’s stock rating from Hold to Buy, despite the company missing revenue expectations in its second-quarter results. The firm noted challenges in monetization and technical disruptions affecting ad pricing and performance. Meanwhile, RBC Capital lowered its price target for Snap from $12 to $10, maintaining a Sector Perform rating. This adjustment follows a difficult second quarter for Snap, with issues in ad platform development cited as concerns.
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