Snowflake (NYSE:SNOW) Trading 1.5% Higher – What’s Next?

Snowflake Inc. (NYSE:SNOW)’s stock price shot up 1.5% on Friday . The company traded as high as $167.62 and last traded at $166.65. 1,132,389 shares were traded during mid-day trading, a decline of 83% from the average session volume of 6,759,359 shares. The stock had previously closed at $164.21.

Analyst Ratings Changes

Several brokerages have weighed in on SNOW. StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a research report on Thursday, November 28th. TD Cowen boosted their price target on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Citigroup dropped their price objective on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. Argus started coverage on shares of Snowflake in a research note on Tuesday, October 1st. They issued a “hold” rating for the company. Finally, Scotiabank increased their price target on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $184.46.

Snowflake Stock Up 1.3 %

The firm’s fifty day simple moving average is $143.77 and its two-hundred day simple moving average is $130.62. The company has a market capitalization of $54.89 billion, a price-to-earnings ratio of -49.05 and a beta of 1.03. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the completion of the sale, the executive vice president now directly owns 691,755 shares in the company, valued at $124,515,900. This trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benoit Dageville sold 287 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $31,974.67. Following the completion of the transaction, the insider now owns 53,250 shares in the company, valued at approximately $5,932,582.50. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 292,901 shares of company stock worth $48,375,520. Insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNOW. Oddo BHF Asset Management Sas acquired a new stake in shares of Snowflake in the third quarter valued at $12,145,000. Garde Capital Inc. boosted its holdings in Snowflake by 9.5% during the 3rd quarter. Garde Capital Inc. now owns 6,050 shares of the company’s stock valued at $695,000 after acquiring an additional 526 shares during the period. Franklin Resources Inc. grew its position in Snowflake by 1.4% in the 3rd quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after acquiring an additional 7,373 shares in the last quarter. Synovus Financial Corp increased its stake in Snowflake by 28.6% during the third quarter. Synovus Financial Corp now owns 6,077 shares of the company’s stock worth $698,000 after purchasing an additional 1,352 shares during the period. Finally, Blankinship & Foster LLC acquired a new stake in shares of Snowflake during the third quarter worth about $896,000. 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.