Checking in on Snowflake Inc. (SNOW) after recent insiders movement


Snowflake Inc.’s recent filing unveils that its Chief Financial Officer Scarpelli Michael unloaded Company’s shares for reported $30.35 million on Dec 13. In the deal valued at $151.76 per share,200,000 shares were sold. As a result of this transaction, Scarpelli Michael now holds 101,097 shares worth roughly $ 15.01 million.

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Then, Slootman Frank sold 1,311 shares, generating $186,935 in total proceeds. Upon selling the shares at $142.59, the CEO and Chairman now owns 133,011 shares.

Before that, Dageville Benoit sold 724 shares. Snowflake Inc. shares valued at $103,235 were divested by the President of Products at a price of $142.59 per share. As a result of the transaction, Dageville Benoit now holds 14,404 shares, worth roughly $2.14 million.

Wells Fargo initiated its Snowflake Inc. [SNOW] rating to an Overweight in a research note published on Friday, January 06, 2023; the price target was $170. PT values the company’s stock at a premium of 12.68 to its Friday closing price. A number of analysts have revised their coverage, including Wedbush’s analysts, who began to cover the stock in mid December with a ‘”a Neutral”‘ rating. Macquarie began covering SNOW with “Neutral” recommendation on November 02, 2022. Bernstein started covering the stock on October 11, 2022. It rated SNOW as “a Mkt perform”.

Price Performance Review of SNOW

On Friday, Snowflake Inc. [NYSE:SNOW] saw its stock fall -3.06% to $148.44. On the same session, the stock had its day’s lowest price of $145.28, but rose to a high of $150.75. Over the last five days, the stock has lost -9.71%. Snowflake Inc. shares have risen nearly 3.41% since the year began. Nevertheless, the stocks have fallen -41.24% over the past one year. While a 52-week high of $275.89 was reached on 02/02/23, a 52-week low of $110.26 was recorded on 01/06/23. SMA at 50 days reached $148.42, while 200 days put it at $153.01. A total of 3.79 million shares were traded, compared to the trading of 4.11 million shares in the previous session.

Levels Of Support And Resistance For SNOW Stock

The 24-hour chart illustrates a support level at 145.56, which if violated will result in even more drops to 142.69. On the upside, there is a resistance level at 151.03. A further resistance level may holdings at 153.63. The Relative Strength Index (RSI) on the 14-day chart is 45.26, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -8.41, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 89.70%. Stochastics %K at 11.11% indicates the stock is a buying.

How much short interest is there in Snowflake Inc.?

A steep rise in short interest was recorded in Snowflake Inc. stocks on Jan 30, 2023, growing by 3.65 million shares to a total of 15.01 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 11.36 million shares. There was a rise of 24.32%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.85% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.71.

Snowflake Inc. [SNOW] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 17,097,565 shares, or roughly 5.32% of the outstanding SNOW shares. In other words, the investor’s shares have risen by 402,528 from its previous 13-F filing of 16695037.0. Additionally, Altimeter Capital Management LP decreased -9.60% of its stake after which the total value it holdings stand at $2,404,398,166, while Morgan Stanley Investment Managem reduced -6.32% of its stake to hold $2.0 billion in the firm. Over the last quarter, Iconiq Capital LLC sold -3,000,591 shares of Snowflake Inc., while BlackRock Fund Advisors sold 2,580,773 shares. At present, Capital Research & Management Co is holding 8,528,140 shares valued at $1.33 billion. Jennison Associates LLC owned 6,204,851 shares of the company at the time of its most recent 13F filing, worth $970.69 million.

According to FactSet, Snowflake Inc.’s share price will average $183.05 in the next year, based on opinions of analysts polled by the firm. This is up nearly 17.55 percent from its previous closing price of $153.12. Analysts expect Snowflake Inc. stock to reach the higher price of $500.00, while the lowest price estimate is $50.00. However, 45 analysts have rated SNOW stock as an Overweight in their predictions for 2023. The most recent change occurred on September 22, 2022 when MoffettNathanson began covering the stock and recommended ‘”a Buy”‘ rating along with a $242 price target.


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