Snowflake Inc. (NYSE:SNOW) Short Interest Update

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

Insider Buying and Selling

In other Snowflake news, Director Frank Slootman sold 45,896 shares of Snowflake stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total value of $8,080,449.76. Following the completion of the transaction, the director now owns 208,735 shares of the company’s stock, valued at $36,749,884.10. The trade was a 18.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the transaction, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. This represents a 2.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 376,904 shares of company stock worth $62,545,855. Insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Several institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp grew its stake in Snowflake by 0.8% during the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after acquiring an additional 54,909 shares in the last quarter. Geode Capital Management LLC grew its stake in Snowflake by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after acquiring an additional 138,663 shares in the last quarter. Two Sigma Advisers LP grew its stake in Snowflake by 27.9% during the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after acquiring an additional 881,700 shares in the last quarter. Ontario Teachers Pension Plan Board grew its stake in shares of Snowflake by 19,399.2% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after buying an additional 2,559,144 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Snowflake by 11.5% in the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock valued at $293,838,000 after buying an additional 223,936 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SNOW. Cantor Fitzgerald began coverage on shares of Snowflake in a report on Friday. They set an “overweight” rating and a $201.00 price target for the company. Monness Crespi & Hardt boosted their price target on shares of Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Rosenblatt Securities reissued a “buy” rating and set a $180.00 price target on shares of Snowflake in a report on Tuesday, November 19th. KeyCorp lifted their price objective on shares of Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company upgraded shares of Snowflake from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $150.00 to $200.00 in a research note on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $188.06.

Snowflake Trading Up 1.3 %

NYSE:SNOW opened at $167.90 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The stock’s 50-day moving average is $160.11 and its two-hundred day moving average is $134.83. The stock has a market cap of $55.43 billion, a PE ratio of -49.53 and a beta of 1.05.

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.