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 $241,725 were sold by Kleinerman Christian on May 14 ’24. At $161.15 per share, Kleinerman Christian sold 1,500 shares. The insider’s holdings dropped to 772,597 shares worth approximately $119.43 million following the completion of this transaction.
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Also, Degnan Christopher William sold 12,782 shares, netting a total of over 2,001,148 in proceeds. Following the sale of shares at $156.56 each, the insider now holds 354,954 shares.
Before that, Kleinerman Christian had sold 1,500 shares from its account. In a trade valued at $234,570, the EVP, Product Management traded Snowflake Inc shares for $156.38 each. Upon closing the transaction, the insider’s holdings decreased to 1,500 shares, worth approximately $119.66 million.
As published in a research note from Exane BNP Paribas on May 02, 2024, Snowflake Inc [SNOW] has been rated up from a Neutral to an Outperform and the price target has been revised to $200. Analysts at KeyBanc Capital Markets started covering the stock with ‘”an Overweight”‘ outlook in a report released in mid April. As of April 05, 2024, Rosenblatt has increased its “Neutral” rating to a “Buy” for SNOW. Earlier on March 19, 2024, Redburn Atlantic downgraded its rating. Their new recommendation was “a Sell” for SNOW stock which previously was a “a Neutral”.
Analyzing SNOW Stock Performance
During the last five days, there has been a drop of approximately -6.34%. Over the course of the year, Snowflake Inc shares have dropped approximately -22.32%. Shares of the company reached a 52-week high of $237.72 on 02/12/24 and a 52-week low of $144.32 on 04/22/24. A 50-day SMA is recorded $157.00, while a 200-day SMA reached $171.61. Nevertheless, trading volume fell to 19.46 million shares from 9.91 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 148.35, which, if violated, would cause prices to drop to 142.13. In the upper region, resistance lies at 164.80. The next price resistance is at 175.03. RSI (Relative Strength Index) is 42.89 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.57, which suggests the price will decrease in the coming days. Percent R is at 86.44%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
