A company insider recently sold 1,651 shares of Snowflake Inc. [SNOW]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Snowflake Inc. shares valued at $299,013 were sold by Slootman Frank on Sep 09. At $181.11 per share, Slootman Frank sold 1,651 shares. The insider’s holdings dropped to 135,781 shares worth approximately $24.27 million following the completion of this transaction.


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Also, Dageville Benoit sold 724 shares, netting a total of over 131,124 in proceeds. Following the sale of shares at $181.11 each, the insider now holds 15,512 shares.

Before that, Briggs Teresa had sold 2,000 shares from its account. In a trade valued at $393,840, the Director traded Snowflake Inc. shares for $196.92 each. Upon closing the transaction, the insider’s holdings decreased to 2,000 shares, worth approximately $0.0.

As published in their initiating research note from Needham on September 16, 2022, Snowflake Inc. [SNOW] has been a Buy and the price target has been revised to $240. This represents a 25.53% premium over Wednesday’s closing price. Analysts at CapitalOne started covering the stock with ‘”an Equal weight”‘ outlook in a report released in mid August. As of August 16, 2022, UBS has decreased its “Buy” rating to a “Neutral” for SNOW. Earlier on August 12, 2022, Guggenheim initiated its rating. Their recommendation was “a Sell” for SNOW stock.

Analyzing SNOW’s Price Performance

On Wednesday, Snowflake Inc. [NYSE: SNOW] plunged -2.20% to $178.72. The stock’s lowest price that day was $178.68, but it reached a high of $188.91 in the same session. During the last five days, there has been a drop of approximately -9.73%. Over the course of the year, Snowflake Inc. shares have dropped approximately -47.24%. Shares of the company reached a 52-week high of $344.00 on 01/03/22 and a 52-week low of $110.26 on 06/14/22. A 50-day SMA is recorded $166.61, while a 200-day SMA reached $209.45. Nevertheless, trading volume fell to 5.4 million shares from 5.06 million shares the previous day.

Support And Resistance Levels for Snowflake Inc. (SNOW)

According to the 24-hour chart, there is a support level at 175.30, which, if violated, would cause prices to drop to 171.87. In the upper region, resistance lies at 185.53. The next price resistance is at 192.33. RSI (Relative Strength Index) is 50.23 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.58, which suggests the price will decrease in the coming days. Percent R is at 66.00%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Snowflake Inc. subject to short interest?

Stocks of Snowflake Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.99 million shares to 12.94 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 13.93 million shares. A decline of -7.65% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.77 of the overall float, the days-to-cover ratio (short ratio) decline to 1.77.

Which companies own the most shares of Snowflake Inc. (SNOW)?

According to Iconiq Capital LLC filings, the company currently owns 17,422,870 shares, which is about 5.48% of the total SNOW shares outstanding. The investor’s shares have plunged by -7,004,762 from its previous 13-F filing of 24427632.0 shares. With the completion of the sale transaction, Altimeter Capital Management LP’s stake is now worth $3,076,474,986. The Vanguard Group, Inc. acquire a 3.97% interest valued at $2.81 billion while Morgan Stanley Investment Managem purchased a 446,169 stake. A total of 1,270,181 shares of Snowflake Inc. were bought by T. Rowe Price Associates, Inc. during the quarter, and 156,410 were bought by Capital Research & Management Co. In its current portfolio, BlackRock Fund Advisors holds 6,840,769 shares valued at $1.24 billion.

In terms of Snowflake Inc. share price expectations, FactSet research, analysts set an average price target of $221.23 in the next 12 months, up nearly 17.65% from the previous closing price of $182.74. Analysts anticipate Snowflake Inc. stock to reach $530.00 by 2022, with the lowest price target being $125.00. In spite of this, 37 analysts ranked Snowflake Inc. stock as an Overweight at the end of 2022.

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