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 $3,600,000 were sold by Kleinerman Christian on Oct 10 ’24. At $120.00 per share, Kleinerman Christian sold 30,000 shares. The insider’s holdings dropped to 721,755 shares worth approximately $82.94 million following the completion of this transaction.
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Also, Kleinerman Christian purchased 30,000 shares, netting a total of over 3,600,000 in proceeds.
Before that, Kleinerman Christian had sold 861 shares from its account. In a trade valued at $95,924, the EVP, Product Management traded Snowflake Inc shares for $111.41 each. Upon closing the transaction, the insider’s holdings decreased to 861 shares, worth approximately $86.39 million.
As published in a research note from Cleveland Research on October 22, 2024, Snowflake Inc [SNOW] has been rated down from a Buy to a Neutral. Analysts at Argus started covering the stock with ‘”a Hold”‘ outlook in a report released in early October. As of August 23, 2024, HSBC Securities has increased its “Reduce” rating to a “Hold” for SNOW. Earlier on August 15, 2024, Wells Fargo downgraded its rating. Their new recommendation was “an Equal weight” for SNOW stock which previously was a “an Overweight”.
Analyzing SNOW Stock Performance
During the last five days, there has been a drop of approximately -3.45%. Over the course of the year, Snowflake Inc shares have dropped approximately -42.25%. 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 $116.09, while a 200-day SMA reached $149.85. Nevertheless, trading volume fell to 2.81 million shares from 5.65 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 113.80, which, if violated, would cause prices to drop to 112.67. In the upper region, resistance lies at 116.19. The next price resistance is at 117.45. RSI (Relative Strength Index) is 46.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.02, which suggests the price will decrease in the coming days. Percent R is at 86.65%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
