Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Snowflake Inc shares valued at $715,052 were sold by Slootman Frank on Sep 17 ’24. At $114.39 per share, Slootman Frank sold 6,251 shares. The insider’s holdings dropped to 208,735 shares worth approximately $23.8 million following the completion of this transaction.
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Also, Kleinerman Christian sold 3,029 shares, netting a total of over 346,487 in proceeds. Following the sale of shares at $114.39 each, the insider now holds 753,464 shares.
Before that, Dageville Benoit had sold 1,946 shares from its account. In a trade valued at $222,603, the President of Products traded Snowflake Inc shares for $114.39 each. Upon closing the transaction, the insider’s holdings decreased to 1,946 shares, worth approximately $6.14 million.
As published in a research note from HSBC Securities on August 23, 2024, Snowflake Inc [SNOW] has been rated up from a Reduce to a Hold and the price target has been revised to $121 from $119. Analysts at Wells Fargo downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in mid August. As of May 02, 2024, Exane BNP Paribas has increased its “Neutral” rating to a “an Outperform” for SNOW. Earlier on April 11, 2024, KeyBanc Capital Markets initiated its rating. Their recommendation was “an Overweight” for SNOW stock.
Analyzing SNOW Stock Performance
During the last five days, there has been a surge of approximately 0.91%. Over the course of the year, Snowflake Inc shares have dropped approximately -42.70%. Shares of the company reached a 52-week high of $237.72 on 02/12/24 and a 52-week low of $107.13 on 09/06/24. A 50-day SMA is recorded $121.86, while a 200-day SMA reached $159.57. Nevertheless, trading volume fell to 8.5 million shares from 6.48 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 112.12, which, if violated, would cause prices to drop to 110.21. In the upper region, resistance lies at 115.47. The next price resistance is at 116.91. RSI (Relative Strength Index) is 46.34 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.44, which suggests the price will decrease in the coming days. Percent R is at 21.62%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
