Stock Traders Purchase High Volume of Snowflake Call Options (NYSE:SNOW)

Snowflake Inc. (NYSE:SNOW) was the recipient of unusually large options trading on Thursday. Investors bought 127,715 call options on the stock. This is an increase of approximately 57% compared to the average volume of 81,334 call options.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Jefferies Financial Group raised their target price on shares of Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Cantor Fitzgerald lifted their target price on Snowflake from $201.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday. Loop Capital upped their target price on Snowflake from $205.00 to $215.00 and gave the company a “buy” rating in a report on Thursday. Wedbush set a $210.00 price target on Snowflake in a research note on Wednesday, January 22nd. Finally, Monness Crespi & Hardt upped their price objective on shares of Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $202.92.

Snowflake Trading Up 1.8 %

Shares of SNOW stock opened at $176.76 on Friday. Snowflake has a 12 month low of $107.13 and a 12 month high of $194.40. The company has a market cap of $58.35 billion, a PE ratio of -52.14 and a beta of 1.07. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The business’s 50 day moving average is $173.19 and its two-hundred day moving average is $145.51.

Insider Buying and Selling

In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $157.24, for a total value of $2,009,841.68. Following the sale, the executive now directly owns 311,999 shares in the company, valued at approximately $49,058,722.76. The trade was a 3.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 2,218 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $175.00, for a total transaction of $388,150.00. Following the completion of the sale, the director now directly owns 208,735 shares of the company’s stock, valued at $36,528,625. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 312,193 shares of company stock valued at $52,833,048 over the last quarter. Corporate insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SNOW. Groupama Asset Managment bought a new stake in Snowflake during the third quarter valued at about $25,000. Stonebridge Financial Group LLC bought a new stake in Snowflake during the 4th quarter valued at approximately $29,000. West Paces Advisors Inc. acquired a new stake in Snowflake in the 4th quarter valued at approximately $31,000. Spurstone Advisory Services LLC bought a new position in Snowflake in the 4th quarter worth approximately $31,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of Snowflake during the fourth quarter worth approximately $31,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.