Michael J. O'Sullivan, General Counsel at Snap Inc . (NYSE:SNAP), executed a sale of 18,000 shares of Class A common stock on November 29, according to a recent SEC filing. The shares were sold at a weighted average price of $11.8851, bringing the total transaction value to approximately $213,931. The transaction occurred as SNAP shares have shown strong momentum, with a 10.77% gain over the past week. According to InvestingPro data, the stock is currently trading near its Fair Value. These sales were conducted under a pre-established Rule 10b5-1 trading plan. Following the transaction, O'Sullivan holds 464,009 shares indirectly by trust, with additional direct holdings amounting to 1,184,616 shares. With SNAP's market capitalization at $21.5 billion and analyst targets suggesting potential upside, investors can access comprehensive analysis and 7 additional key insights through InvestingPro's detailed research reports.
In other recent news, Snap Inc. has been the focus of strong Q3 results and positive outlooks from various analysts. The company reported a 15% year-over-year increase in Q3 revenue, totaling $1.37 billion, and a rise in daily active users to 443 million. This growth was attributed to the company's direct response advertising business and the Snapchat+ subscription service. Loop Capital raised its price target for Snap from $14 to $16, maintaining a Buy rating. Similarly, Guggenheim Securities sustained its Buy rating, with a price target of $13, based on Q4 trends aligning with company expectations.
On the other hand, Splash Beverage Group has been actively pursuing mergers and acquisitions, including the acquisition of Western Son Vodka and the intent to acquire an energy drink company. However, due to revenue pressures, Citi revised its revenue forecasts downward for 2024 and 2025, leading to a new price target of $0.50. Despite this, Citi maintains a Buy rating on Splash Beverage, citing a favorable risk-reward scenario.
These are recent developments that provide useful insights for investors interested in these companies.
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