Michael J. O’Sullivan, the General Counsel of Snap Inc (NYSE:SNAP), reported a sale of 18,000 shares of the company’s Class A common stock. The shares were sold on December 31, 2024, at a weighted average price of $10.8391 per share, totaling approximately $195,103. The stock, currently trading at $11.24, has shown recent momentum with a 4.36% gain year-to-date, though it remains significantly below its 52-week high of $17.75. According to InvestingPro analysis, the company appears undervalued based on its Fair Value assessment.
The transaction was conducted under a Rule 10b5-1 trading plan that O’Sullivan adopted on November 20, 2023. Following this sale, O’Sullivan holds 498,498 shares indirectly through a trust and retains direct ownership of 1,075,166 shares in the social media company, which currently maintains a market capitalization of $18.8 billion.
The sale price per share ranged from $10.755 to $10.985, as per the filing details. The transaction highlights O’Sullivan’s ongoing management of his equity holdings in the social media company headquartered in Santa Monica, California. Analysts maintain mixed views on the stock, with price targets ranging from $9 to $18 per share. Get deeper insights and access to comprehensive analysis through InvestingPro’s exclusive research reports.
In other recent news, Snap Inc has been the subject of various financial analyses. Evercore ISI revised Snap’s price target down to $14 from $15, foreseeing a challenging first quarter of 2025 for the company. The firm anticipates potential risks to the consensus Street revenue estimate of $1,341 million for Q1 2025, resulting in a 4% decrease in the revised revenue and EBITDA estimates for Snap’s full fiscal year 2025.
In contrast, Guggenheim Securities maintained a Buy rating for Snap, as Q4 trends align with company expectations. The firm’s analysis suggests that Snap’s upcoming release of a user-friendly version of Snapchat may be key to sustaining user interest and expanding its user base.
In the social media sector, Snap faced a decline in stock due to a legal challenge by TikTok, stirring uncertainty. Meanwhile, Meta Platforms Inc (NASDAQ:META). saw its shares reach a record high following a legal victory that may impact its main competitors.
In parallel developments, Splash Beverage Group is actively pursuing mergers and acquisitions, despite facing revenue pressures. Citi revised its revenue forecasts downward for the company for 2024 and 2025, leading to a new price target of $0.50, but maintains a Buy rating citing a favorable risk-reward scenario. These are recent developments in the investment landscape.
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