Snowflake Target of Unusually High Options Trading (NYSE:SNOW)

Snowflake Inc. (NYSE:SNOW) saw unusually large options trading activity on Thursday. Stock investors purchased 127,715 call options on the stock. This represents an increase of 57% compared to the typical volume of 81,334 call options.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Jefferies Financial Group raised their price objective on shares of Snowflake from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Truist Financial reiterated a “buy” rating and issued a $225.00 price target (up from $210.00) on shares of Snowflake in a research note on Thursday. Canaccord Genuity Group lifted their price target on shares of Snowflake from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, BTIG Research upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $202.92.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’s 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 approximately $124,515,900. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $174.06, for a total transaction of $2,224,834.92. Following the sale, the executive now owns 323,731 shares of the company’s stock, valued at approximately $56,348,617.86. This represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 312,193 shares of company stock worth $52,833,048 in the last three months. 7.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Snowflake

Hedge funds have recently modified their holdings of the stock. Groupama Asset Managment bought a new stake in Snowflake in the third quarter worth $25,000. Stonebridge Financial Group LLC bought a new stake in Snowflake in the fourth quarter worth $29,000. West Paces Advisors Inc. bought a new stake in Snowflake in the fourth quarter worth $31,000. Spurstone Advisory Services LLC bought a new stake in Snowflake in the fourth quarter worth $31,000. Finally, Capital A Wealth Management LLC bought a new stake in Snowflake in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

SNOW stock opened at $173.78 on Friday. Snowflake has a one year low of $107.13 and a one year high of $233.88. The company’s fifty day moving average price is $172.98 and its 200-day moving average price is $145.14. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market capitalization of $57.36 billion, a PE ratio of -51.26 and a beta of 1.07.

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.