Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Snowflake Inc shares valued at $1,811,550 were sold by Kleinerman Christian on Nov 06 ’24. At $120.77 per share, Kleinerman Christian sold 15,000 shares. The insider’s holdings dropped to 706,755 shares worth approximately $91.36 million following the completion of this transaction.
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Also, Kleinerman Christian purchased 15,000 shares, netting a total of over 1,811,550 in proceeds.
Before that, Kleinerman Christian had sold 30,000 shares from its account. In a trade valued at $3,600,000, the EVP, Product Management traded Snowflake Inc shares for $120.00 each. Upon closing the transaction, the insider’s holdings decreased to 30,000 shares, worth approximately $93.3 million.
As published in a research note from Monness Crespi & Hardt on November 06, 2024, Snowflake Inc [SNOW] has been rated up from a Neutral to a Buy and the price target has been revised to $140. Analysts at Cleveland Research downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late October. As of October 01, 2024, Argus has initiated its “Hold” rating for SNOW. Earlier on August 23, 2024, HSBC Securities upgraded its rating. Their new recommendation was “a Hold” for SNOW stock which previously was a “a Reduce”.
Analyzing SNOW Stock Performance
During the last five days, there has been a surge of approximately 4.64%. Over the course of the year, Snowflake Inc shares have dropped approximately -35.04%. 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 $116.39, while a 200-day SMA reached $144.04. Nevertheless, trading volume fell to 4.92 million shares from 5.75 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 128.14, which, if violated, would cause prices to drop to 127.02. In the upper region, resistance lies at 131.33. The next price resistance is at 133.38. RSI (Relative Strength Index) is 65.55 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 7.77, which suggests the price will increase in the coming days. Percent R is at 24.91%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
