Snowflake (NYSE:SNOW) Shares Up 0% – What’s Next?

Snowflake Inc. (NYSE:SNOW)’s share price traded up 0% during trading on Thursday . The stock traded as high as $163.69 and last traded at $163.13. 568,152 shares traded hands during trading, a decline of 92% from the average session volume of 6,727,066 shares. The stock had previously closed at $163.06.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SNOW. Jefferies Financial Group lifted their price objective on shares of Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Loop Capital lifted their price target on Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Barclays boosted their target price on shares of Snowflake from $172.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Mizuho boosted their price target on shares of Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Argus assumed coverage on shares of Snowflake in a research note on Tuesday, October 1st. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and a consensus target price of $185.03.

Snowflake Stock Down 3.0 %

The firm has a 50-day moving average of $147.90 and a two-hundred day moving average of $131.70. The firm has a market cap of $52.37 billion, a price-to-earnings ratio of -46.80 and a beta of 1.02. 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 Transactions at Snowflake

In related news, CAO Emily Ho sold 1,508 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total transaction of $246,060.36. Following the transaction, the chief accounting officer now directly owns 44,760 shares in the company, valued at $7,303,489.20. The trade was a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $120.00, for a total value of $3,600,000.00. Following the completion of the transaction, the executive vice president now directly owns 721,755 shares of the company’s stock, valued at approximately $86,610,600. This trade represents a 3.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 294,122 shares of company stock worth $48,636,014 over the last three months. 7.80% of the stock is currently owned by insiders.

Institutional Trading of Snowflake

A number of institutional investors and hedge funds have recently modified their holdings of SNOW. Groupama Asset Managment acquired a new stake in Snowflake in the 3rd quarter valued at $25,000. Wellington Shields Capital Management LLC acquired a new position in Snowflake in the second quarter valued at about $27,000. V Square Quantitative Management LLC bought a new stake in Snowflake during the third quarter worth about $30,000. Fortitude Family Office LLC acquired a new stake in shares of Snowflake during the third quarter worth approximately $34,000. Finally, Larson Financial Group LLC raised its stake in shares of Snowflake by 81.3% in the third quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock valued at $39,000 after acquiring an additional 152 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

About Snowflake

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.