Snowflake Inc. (NYSE:SNOW) Short Interest Update

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

Snowflake Price Performance

Snowflake stock opened at $167.90 on Friday. The stock has a market capitalization of $55.43 billion, a P/E ratio of -49.53 and a beta of 1.05. The company’s fifty day moving average price is $160.11 and its 200 day moving average price is $134.83. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake has a 1 year low of $107.13 and a 1 year high of $237.72.

Analyst Ratings Changes

SNOW has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price target on Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Argus assumed coverage on shares of Snowflake in a research report on Tuesday, October 1st. They issued a “hold” rating for the company. Barclays raised shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research report on Friday, January 10th. Needham & Company LLC raised their price target on shares of Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Loop Capital lifted their price objective on shares of Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-nine have issued a buy rating to the company. According to data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus target price of $188.06.

Insider Buying and Selling at Snowflake

In other Snowflake news, CRO Christopher William Degnan sold 76,692 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $168.42, for a total value of $12,916,466.64. Following the completion of the sale, the executive now directly owns 346,741 shares in the company, valued at $58,398,119.22. This trade represents a 18.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 in the company, valued at $85,354,801.35. This represents a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 376,904 shares of company stock valued at $62,545,855. 7.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Snowflake

Several institutional investors have recently modified their holdings of SNOW. Toronto Dominion Bank raised its position in shares of Snowflake by 24.1% during the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after purchasing an additional 7,239 shares during the last quarter. Independent Advisor Alliance increased its stake in Snowflake by 15.5% during the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after buying an additional 548 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Snowflake by 1.4% during the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after acquiring an additional 7,373 shares during the last quarter. Diversified Trust Co lifted its position in shares of Snowflake by 174.8% in the fourth quarter. Diversified Trust Co now owns 4,906 shares of the company’s stock valued at $758,000 after acquiring an additional 3,121 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Snowflake by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,247,511 shares of the company’s stock worth $143,289,000 after acquiring an additional 36,704 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

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.