Snowflake Inc. (NYSE:SNOW) Short Interest Update

Snowflake Inc. (NYSE:SNOW) was the recipient of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totalling 10,220,000 shares, a decrease of 18.4% from the December 31st total of 12,530,000 shares. Based on an average daily trading volume, of 6,460,000 shares, the short-interest ratio is currently 1.6 days.

Analyst Ratings Changes

SNOW has been the topic of several recent research reports. Wells Fargo & Company upgraded Snowflake from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $150.00 to $200.00 in a research report on Tuesday, January 7th. Piper Sandler increased their price target on shares of Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. StockNews.com downgraded shares of Snowflake from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Truist Financial reissued a “buy” rating and issued a $210.00 target price on shares of Snowflake in a research note on Thursday, November 21st. Finally, Bank of America increased their price objective on Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $188.06.

Insiders Place Their Bets

In other Snowflake news, CAO Emily Ho sold 2,021 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $173.68, for a total transaction of $351,007.28. Following the sale, the chief accounting officer now owns 26,874 shares in the company, valued at $4,667,476.32. This represents a 6.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the transaction, the executive vice president now owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. This trade represents a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 504,151 shares of company stock worth $84,973,139. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of institutional investors have recently added to or reduced their stakes in the company. Groupama Asset Managment acquired a new stake in Snowflake during the third quarter valued at $25,000. Stonebridge Financial Group LLC bought a new stake in Snowflake in the fourth quarter worth approximately $29,000. V Square Quantitative Management LLC acquired a new position in Snowflake during the third quarter worth $30,000. Fortitude Family Office LLC bought a new position in shares of Snowflake in the 3rd quarter valued at approximately $34,000. Finally, Perkins Coie Trust Co increased its stake in shares of Snowflake by 136.3% in the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after purchasing an additional 139 shares during the period. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Down 1.7 %

NYSE SNOW traded down $3.02 during trading hours on Thursday, reaching $179.86. 3,928,178 shares of the company traded hands, compared to its average volume of 5,114,036. The stock has a market capitalization of $59.37 billion, a PE ratio of -53.08 and a beta of 1.05. Snowflake has a 12 month low of $107.13 and a 12 month high of $237.72. The company has a 50 day moving average of $169.02 and a two-hundred day moving average of $137.06. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

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.