Snowflake (NYSE:SNOW) Shares Up 0.5% – What’s Next?

Snowflake Inc. (NYSE:SNOW) shares were up 0.5% on Monday . The company traded as high as $177.65 and last traded at $175.73. Approximately 1,645,629 shares were traded during trading, a decline of 76% from the average daily volume of 6,783,580 shares. The stock had previously closed at $174.80.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SNOW shares. JMP Securities reaffirmed a “market outperform” rating and set a $190.00 target price on shares of Snowflake in a research note on Tuesday. Robert W. Baird dropped their price objective on shares of Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and boosted their price objective for the stock from $119.00 to $121.00 in a research note on Friday, August 23rd. Monness Crespi & Hardt boosted their price objective on shares of Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, Wedbush raised shares of Snowflake from a “neutral” rating to an “outperform” rating and set a $190.00 price objective on the stock in a research note on Monday, November 25th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.09.

Snowflake Trading Up 6.0 %

The company has a market cap of $62.52 billion, a PE ratio of -51.92 and a beta of 1.03. The stock’s 50 day moving average is $128.62 and its 200-day moving average is $128.42. The company has a quick ratio of 1.58, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Activity at Snowflake

In other news, CAO Emily Ho sold 2,021 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $173.68, for a total value of $351,007.28. Following the sale, the chief accounting officer now owns 26,874 shares of the company’s stock, valued at approximately $4,667,476.32. This represents a 6.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frank Slootman sold 1,606 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the sale, the director now directly owns 218,246 shares in the company, valued at approximately $23,998,330.16. This represents a 0.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 264,278 shares of company stock valued at $42,512,248 over the last 90 days. 7.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Snowflake

Hedge funds and other institutional investors have recently made changes to their positions in the company. LRI Investments LLC raised its stake in shares of Snowflake by 155.6% in the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after acquiring an additional 112 shares during the period. Groupama Asset Managment bought a new position in shares of Snowflake in the third quarter worth about $25,000. Wellington Shields Capital Management LLC bought a new position in shares of Snowflake in the second quarter worth about $27,000. V Square Quantitative Management LLC bought a new position in shares of Snowflake in the third quarter worth about $30,000. Finally, Fortitude Family Office LLC bought a new position in shares of Snowflake in the third quarter worth about $34,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Company Profile

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.