Snowflake (NYSE:SNOW) Trading 0% Higher – Time to Buy?

Shares of Snowflake Inc. (NYSE:SNOW) were up 0% during trading on Thursday . The stock traded as high as $163.69 and last traded at $163.13. Approximately 568,152 shares traded hands during trading, a decline of 92% from the average daily volume of 6,727,066 shares. The stock had previously closed at $163.06.

Analysts Set New Price Targets

A number of research firms recently issued reports on SNOW. Piper Sandler reaffirmed an “overweight” rating and issued a $185.00 price target on shares of Snowflake in a report on Tuesday, December 17th. Truist Financial reaffirmed a “buy” rating and issued a $210.00 target price on shares of Snowflake in a research note on Thursday, November 21st. DA Davidson reissued a “buy” rating and set a $175.00 price target on shares of Snowflake in a research note on Thursday, October 3rd. StockNews.com lowered shares of Snowflake from a “hold” rating to a “sell” rating in a report on Thursday, November 28th. Finally, UBS Group reduced their price objective on Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $185.03.

Snowflake Stock Down 3.0 %

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 firm’s 50 day moving average price is $147.90 and its two-hundred day moving average price is $131.70. The company has a market capitalization of $52.37 billion, a P/E ratio of -46.80 and a beta of 1.02.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 558 shares of the company’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 value of $99,882.00. Following the sale, the executive vice president now owns 690,647 shares in the company, valued at $123,625,813. This represents a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Emily Ho sold 2,021 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $173.68, for a total value of $351,007.28. Following the transaction, the chief accounting officer now directly owns 26,874 shares in the company, valued at $4,667,476.32. The trade was a 6.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 294,122 shares of company stock worth $48,636,014 in the last quarter. Corporate insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Large investors have recently made changes to their positions in the company. Wellington Shields Capital Management LLC bought a new stake in Snowflake in the 2nd quarter valued at $27,000. Groupama Asset Managment acquired a new stake in shares of Snowflake during the third quarter worth $25,000. V Square Quantitative Management LLC bought a new stake in shares of Snowflake in the third quarter valued at about $30,000. Fortitude Family Office LLC bought a new stake in shares of Snowflake in the third quarter valued at about $34,000. Finally, Larson Financial Group LLC grew its stake in shares of Snowflake by 81.3% in the third quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock valued at $39,000 after acquiring an additional 152 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.