The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Snowflake Inc shares valued at $5,000,038 were purchased by Ramaswamy Sridhar on Mar 25 ’24. At $158.52 per share, Ramaswamy Sridhar acquired 31,542 shares. The insider’s holdings grew to 31,542 shares worth approximately $5.03 million following the completion of this transaction.
Also, Ho Emily sold 1,968 shares, netting a total of over 309,793 in proceeds. Following the sale of shares at $157.41 each, the insider now holds 30,425 shares.
Before that, Slootman Frank had sold 19,764 shares from its account. In a trade valued at $3,096,303, the CEO and Chairman traded Snowflake Inc shares for $156.66 each. Upon closing the transaction, the insider’s holdings decreased to 19,764 shares, worth approximately $37.18 million.
As published in their initiating research note from KeyBanc Capital Markets on April 11, 2024, Snowflake Inc [SNOW] has been an Overweight and the price target has been revised to $185. Analysts at Rosenblatt upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early April. As of March 19, 2024, Redburn Atlantic has decreased its “Neutral” rating to a “Sell” for SNOW. Earlier on March 18, 2024, Monness Crespi & Hardt upgraded its rating. Their new recommendation was “a Neutral” for SNOW stock which previously was a “a Sell”.
Analyzing SNOW Stock Performance
During the last five days, there has been a surge of approximately 5.29%. Over the course of the year, Snowflake Inc shares have dropped approximately -19.92%. Shares of the company reached a 52-week high of $237.72 on 02/12/24 and a 52-week low of $150.62 on 04/04/24. A 50-day SMA is recorded $186.27, while a 200-day SMA reached $174.24. Nevertheless, trading volume fell to 5.71 million shares from 3.41 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 155.82, which, if violated, would cause prices to drop to 152.28. In the upper region, resistance lies at 161.40. The next price resistance is at 163.45. RSI (Relative Strength Index) is 43.05 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.78, which suggests the price will decrease in the coming days. Percent R is at 42.83%, 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 Mar 15, 2024 dropping by -1.67 million shares to 8.69 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 10.36 million shares. A decline of -19.22% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 0.86 of the overall float, the days-to-cover ratio (short ratio) decline to 0.86.
