Snowflake Inc’s recently made public that its Chief Executive Officer Ramaswamy Sridhar acquired Company’s shares for reported $5.0 million on Mar 25 ’24. In the deal valued at $158.52 per share,31,542 shares were bought. As a result of this transaction, Ramaswamy Sridhar now holds 31,542 shares worth roughly $4.88 million.
Then, Ho Emily sold 1,968 shares, generating $309,793 in total proceeds. Upon selling the shares at $157.41, the Chief Accounting Officer now owns 30,425 shares.
Before that, Slootman Frank sold 19,764 shares. Snowflake Inc shares valued at $3,096,303 were divested by the CEO and Chairman at a price of $156.66 per share. As a result of the transaction, Slootman Frank now holds 233,297 shares, worth roughly $36.13 million.
Rosenblatt upgraded its Snowflake Inc [SNOW] rating to a Buy from a a Neutral in a research note published recently. A number of analysts have revised their coverage, including Redburn Atlantic’s analysts, who decreased its forecast for the stock in mid March from “a Neutral” to “a Sell”. Monness Crespi & Hardt also remained covering SNOW and has increased its forecast on March 18, 2024 with a “Neutral” recommendation from previously “Sell” rating. Guggenheim revised its rating on March 15, 2024. It rated SNOW as “a Neutral” which previously was an “a Sell”.
Price Performance Review of SNOW
On Monday, Snowflake Inc [NYSE:SNOW] saw its stock jump 0.65% to $154.86. Over the last five days, the stock has lost -3.53%. Snowflake Inc shares have fallen nearly -22.18% since the year began. Nevertheless, the stocks have risen 5.72% over the past one year. While a 52-week high of $237.72 was reached on 02/12/24, a 52-week low of $135.26 was recorded on 04/04/24. SMA at 50 days reached $189.28, while 200 days put it at $174.53. A total of 2.68 million shares were traded, compared to the trading of 6.15 million shares in the previous session.
Levels Of Support And Resistance For SNOW Stock
The 24-hour chart illustrates a support level at 152.47, which if violated will result in even more drops to 150.08. On the upside, there is a resistance level at 156.47. A further resistance level may holdings at 158.08. The Relative Strength Index (RSI) on the 14-day chart is 34.26, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -4.20, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 76.52%. Stochastics %K at 15.13% 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 Mar 15, 2024, dropping by -1.67 million shares to a total of 8.69 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 10.36 million shares. There was a decline of -19.22%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.69% of the overall stock float, the days-to-cover ratio (short ratio) fell to 0.86.
