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

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. TD Cowen lifted their price objective on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Mizuho boosted their price target on Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Wells Fargo & Company boosted their price target on Snowflake from $125.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 21st. KeyCorp boosted their price target on Snowflake from $150.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, DA Davidson reissued a “buy” rating and set a $175.00 price target on shares of Snowflake in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.09.

Snowflake Price Performance

The stock has a fifty day moving average price of $126.17 and a two-hundred day moving average price of $128.27. The company has a market cap of $57.96 billion, a P/E ratio of -51.84 and a beta of 0.83.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 20,514 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $175.26, for a total transaction of $3,595,283.64. Following the transaction, the director now owns 208,735 shares in the company, valued at $36,582,896.10. This trade represents a 8.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Benoit Dageville sold 1,946 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $222,602.94. Following the transaction, the insider now owns 53,820 shares in the company, valued at $6,156,469.80. This represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 204,661 shares of company stock worth $32,004,752 over the last quarter. 7.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its position in Snowflake by 1.4% in the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock worth $66,086,000 after buying an additional 7,373 shares during the last quarter. Synovus Financial Corp grew its position in Snowflake by 28.6% in the third quarter. Synovus Financial Corp now owns 6,077 shares of the company’s stock worth $698,000 after buying an additional 1,352 shares during the last quarter. Blankinship & Foster LLC acquired a new position in Snowflake in the third quarter worth approximately $896,000. Wilmington Savings Fund Society FSB grew its position in Snowflake by 50.3% in the third quarter. Wilmington Savings Fund Society FSB now owns 4,659 shares of the company’s stock worth $535,000 after buying an additional 1,559 shares during the last quarter. Finally, Sanctuary Advisors LLC grew its position in Snowflake by 2.1% in the third quarter. Sanctuary Advisors LLC now owns 25,328 shares of the company’s stock worth $2,909,000 after buying an additional 514 shares during the last quarter. Institutional investors and hedge funds 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.