Snap Inc's general counsel sold shares to cover taxes, company reports revenue growth
From Investing.com: 2024-09-18 19:02:09
Snap Inc’s General Counsel, Michael J. O’Sullivan, sold over 59,000 shares of Class A Common Stock to cover tax obligations, totaling about $548,637. O’Sullivan also transferred over 50,000 shares to an entity he retains investment power in. Snap Inc reported a 16% revenue increase in Q2 2024, anticipating further growth in Q3. Sahara AI, Snap’s partner, secured $43 million in funding. Key analysts have varying ratings on Snap’s shares. Additionally, Snap welcomed Jim Lanzone to its board and now has over 11 million Snapchat Plus subscribers.
InvestingPro Insights provide valuable data on Snap Inc’s financials, market capitalization, and analyst projections. Snap’s current Price/Book ratio is high at 7.76, indicating potential value premium. The company’s liquidity exceeds short-term obligations, offering financial reassurance. Investors can access detailed analysis on Snap’s financial health and market performance on InvestingPro.
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