Snowflake (NYSE:SNOW) Stock Price Up 0.9% – Time to Buy?

Snowflake Inc. (NYSE:SNOW)’s share price rose 0.9% during mid-day trading on Wednesday . The stock traded as high as $174.10 and last traded at $173.04. Approximately 1,701,687 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 6,800,299 shares. The stock had previously closed at $171.55.

Analysts Set New Price Targets

SNOW has been the subject of a number of recent analyst reports. Jefferies Financial Group lifted their price target on shares of Snowflake from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Citigroup cut their target price on Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. Wedbush raised Snowflake from a “neutral” rating to an “outperform” rating and set a $190.00 price target for the company in a research note on Monday, November 25th. Deutsche Bank Aktiengesellschaft boosted their price objective on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Loop Capital reduced their target price on Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $183.89.

Snowflake Stock Down 1.4 %

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 $55.35 billion, a price-to-earnings ratio of -49.47 and a beta of 1.03. The company has a 50-day moving average of $137.88 and a 200-day moving average of $129.73.

Insiders Place Their Bets

In related news, CAO Emily Ho sold 2,021 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $173.68, for a total value of $351,007.28. Following the transaction, the chief accounting officer now owns 26,874 shares in the company, valued at approximately $4,667,476.32. This represents a 6.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Slootman sold 1,712 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total transaction of $306,448.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 294,384 shares of company stock valued at $47,993,609. Insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Hedge funds and other institutional investors have recently made changes to their positions in the business. Oddo BHF Asset Management Sas purchased a new stake in shares of Snowflake in the third quarter worth about $12,145,000. Garde Capital Inc. raised its position in Snowflake by 9.5% during the third quarter. Garde Capital Inc. now owns 6,050 shares of the company’s stock valued at $695,000 after acquiring an additional 526 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Snowflake by 1.4% in the third 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 during the period. Synovus Financial Corp boosted its position in Snowflake by 28.6% in the 3rd quarter. Synovus Financial Corp now owns 6,077 shares of the company’s stock worth $698,000 after purchasing an additional 1,352 shares in the last quarter. Finally, Blankinship & Foster LLC acquired a new stake in shares of Snowflake during the 3rd quarter worth approximately $896,000. 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.