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

Snowflake Inc. (NYSE:SNOW) was the recipient of unusually large options trading activity on Wednesday. Traders bought 106,376 call options on the company. This represents an increase of 28% compared to the average volume of 83,130 call options.

Insider Transactions at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 861 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $95,924.01. Following the transaction, the executive vice president now owns 751,755 shares in the company, valued at approximately $83,753,024.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Snowflake news, EVP Christian Kleinerman sold 861 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total value of $95,924.01. Following the sale, the executive vice president now directly owns 751,755 shares of the company’s stock, valued at approximately $83,753,024.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benoit Dageville sold 287 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $31,974.67. Following the transaction, the insider now owns 53,250 shares of the company’s stock, valued at approximately $5,932,582.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,538 shares of company stock worth $3,449,994. Insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Park Avenue Securities LLC raised its position in Snowflake by 0.5% during the first quarter. Park Avenue Securities LLC now owns 13,484 shares of the company’s stock valued at $2,179,000 after buying an additional 70 shares during the period. Covestor Ltd boosted its stake in shares of Snowflake by 25.0% during the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock valued at $57,000 after buying an additional 70 shares during the period. IAM Advisory LLC grew its holdings in shares of Snowflake by 2.0% during the 1st quarter. IAM Advisory LLC now owns 3,711 shares of the company’s stock valued at $600,000 after acquiring an additional 74 shares in the last quarter. Joseph P. Lucia & Associates LLC raised its stake in shares of Snowflake by 2.6% during the 1st quarter. Joseph P. Lucia & Associates LLC now owns 2,958 shares of the company’s stock worth $478,000 after purchasing an additional 75 shares in the last quarter. Finally, Peterson Wealth Management increased its stake in shares of Snowflake by 1.5% during the 4th quarter. Peterson Wealth Management now owns 5,576 shares of the company’s stock worth $1,110,000 after purchasing an additional 81 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Up 3.4 %

Shares of NYSE:SNOW opened at $123.73 on Friday. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The company has a market cap of $41.42 billion, a PE ratio of -42.74 and a beta of 0.83. The company’s 50-day moving average price is $116.28 and its 200 day moving average price is $135.00.

Snowflake (NYSE:SNOW) last announced its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The firm had revenue of $868.80 million for the quarter, compared to analysts’ expectations of $851.72 million. During the same quarter in the previous year, the company earned ($0.52) earnings per share. The firm’s quarterly revenue was up 28.9% compared to the same quarter last year. As a group, equities analysts anticipate that Snowflake will post -2.41 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SNOW. Citigroup cut their price objective on Snowflake from $236.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. Scotiabank lowered their price target on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a report on Thursday, August 22nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $220.00 price objective on shares of Snowflake in a research note on Monday, July 1st. Wells Fargo & Company reduced their price objective on Snowflake from $130.00 to $125.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. Finally, Loop Capital dropped their target price on Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $174.74.

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.