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 $234,570 were sold by Kleinerman Christian on Apr 15 ’24. At $156.38 per share, Kleinerman Christian sold 1,500 shares. The insider’s holdings dropped to 774,097 shares worth approximately $114.88 million following the completion of this transaction.
Also, Ramaswamy Sridhar purchased 31,542 shares, netting a total of over 5,000,038 in proceeds. Following the buying of shares at $158.52 each, the insider now holds 31,542 shares.
Before that, Ho Emily had sold 1,968 shares from its account. In a trade valued at $309,793, the Chief Accounting Officer traded Snowflake Inc shares for $157.41 each. Upon closing the transaction, the insider’s holdings decreased to 1,968 shares, worth approximately $4.52 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 drop of approximately -6.87%. Over the course of the year, Snowflake Inc shares have dropped approximately -25.42%. Shares of the company reached a 52-week high of $237.72 on 02/12/24 and a 52-week low of $147.64 on 04/18/24. A 50-day SMA is recorded $180.56, while a 200-day SMA reached $173.58. Nevertheless, trading volume fell to 3.78 million shares from 4.71 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 147.07, which, if violated, would cause prices to drop to 145.72. In the upper region, resistance lies at 150.33. The next price resistance is at 152.24. RSI (Relative Strength Index) is 32.94 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.81, which suggests the price will decrease in the coming days. Percent R is at 95.22%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
