By otakuyassine3@gmail.com 
Snowflake Inc. (NYSE:SNOW – Get Free Report) shares shot up 0% 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
SNOW has been the subject of a number of analyst reports. Piper Sandler restated an “overweight” rating and issued a $185.00 price objective on shares of Snowflake in a research report on Tuesday, December 17th. Barclays increased their price target 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. Wells Fargo & Company lifted their price objective on shares of Snowflake from $125.00 to $150.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Wedbush downgraded Snowflake from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Snowflake in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $185.03.
View Our Latest Analysis on Snowflake
Snowflake Price Performance
The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $54.20 billion, a P/E ratio of -48.44 and a beta of 1.02. The firm has a fifty day moving average of $146.23 and a 200 day moving average of $131.25.
Insider Activity
In other Snowflake news, EVP Christian Kleinerman sold 861 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $165.31, for a total transaction of $142,331.91. Following the completion of the sale, the executive vice president now directly owns 582,930 shares of the company’s stock, valued at approximately $96,364,158.30. This represents a 0.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank Slootman sold 1,712 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total value of $306,448.00. Following the sale, the director now directly owns 205,965 shares of the company’s stock, valued at $36,867,735. This represents a 0.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 292,614 shares of company stock valued at $48,389,953 in the last ninety days. 7.80% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Snowflake
Institutional investors and hedge funds have recently modified their holdings of the stock. Ontario Teachers Pension Plan Board grew its holdings in Snowflake by 19,399.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after buying an additional 2,559,144 shares in the last quarter. Two Sigma Advisers LP increased its position in Snowflake by 27.9% in the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after purchasing an additional 881,700 shares during the last quarter. AQR Capital Management LLC raised its stake in Snowflake by 210.0% during the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock valued at $131,656,000 after purchasing an additional 660,168 shares in the last quarter. SG Americas Securities LLC raised its stake in Snowflake by 471.9% during the third quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock valued at $87,489,000 after purchasing an additional 628,511 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of Snowflake by 90.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock worth $170,938,000 after buying an additional 600,469 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.
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.
Further Reading
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