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Insider Selling: Ho Emily, Snowflake Inc [SNOW] Chief Accounting Officer divested 3,845 shares

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 $501,350 were sold by Ho Emily on Jun 26 ’24. At $130.39 per share, Ho Emily sold 3,845 shares. The insider’s holdings dropped to 30,613 shares worth approximately $4.37 million following the completion of this transaction.

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Also, Czajkowski Grzegorz sold 469,120 shares, netting a total of over 57,742,876 in proceeds. Following the sale of shares at $123.09 each, the insider now holds 494,942 shares.

Before that, Dageville Benoit had sold 1,295 shares from its account. In a trade valued at $162,121, the President of Products traded Snowflake Inc shares for $125.19 each. Upon closing the transaction, the insider’s holdings decreased to 1,295 shares, worth approximately $8.4 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 surge of approximately 10.66%. Over the course of the year, Snowflake Inc shares have dropped approximately -28.19%. Shares of the company reached a 52-week high of $237.72 on 02/12/24 and a 52-week low of $122.60 on 06/25/24. A 50-day SMA is recorded $145.67, while a 200-day SMA reached $168.69. Nevertheless, trading volume fell to 3.29 million shares from 6.65 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 141.14, which, if violated, would cause prices to drop to 139.42. In the upper region, resistance lies at 144.15. The next price resistance is at 145.44. RSI (Relative Strength Index) is 58.01 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 11.06, which suggests the price will increase in the coming days. Percent R is at 8.24%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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