Snap Insider Files to Sell 24,000 Shares Valued at $182,640

Snap Inc. (NYSE: SNAP), the parent company of the popular social media platform Snapchat, has seen a recent filing indicating an insider's intent to sell a significant block of shares. The Michael O'Sullivan Living Trust, associated with a Snap insider, filed a Form 144 on November 28, 2025, notifying regulators of a planned sale of 24,000 shares of common stock. This transaction is valued at approximately $182,640 and is expected to occur on or around the filing date.

This planned disposition follows a broader pattern of insider selling at the company, with several executives and related trusts divesting shares in recent months. Data compiled from SEC filings shows numerous sales by Snap insiders over the past year, while insider purchases have been notably absent. This trend has drawn attention from investors monitoring executive confidence in the company's future.

The 24,000 shares intended for sale by the O'Sullivan Living Trust were originally acquired as compensation through restricted stock units in February and May 2022. The filing further indicates a consistent pattern, as the same trust sold 24,000 Snap shares in each of the preceding three months – August, September, and October 2025 – with gross proceeds ranging from approximately $171,857 to $188,544 per transaction. Goldman Sachs & Co. LLC is designated as the broker facilitating the current sale on the NYSE.

The insider activity occurs as Snap navigates a dynamic market and reports varied financial results. In its third-quarter earnings, Snap Inc. reported revenue of $1.51 billion, marking a 10% year-over-year growth, an improvement from the previous quarter. The company also posted an EBITDA of $182 million, surpassing analyst expectations, leading some firms like BofA Securities and Wells Fargo to raise their price targets to $10.

The aggregate insider selling, which includes significant dispositions by Chief Business Officer Ajit Mohan ($912,250 on November 17) and Chief Technology Officer Robert C. Murphy ($8,003,700 on November 7), can influence market perception. While such sales are often for personal financial management, a sustained trend of selling without corresponding buying might signal a cautious outlook to some investors. Despite these transactions, Snap insiders collectively retain approximately 20% ownership of the company, representing a substantial stake.