Short Interest in Snowflake Inc. (NYSE:SNOW) Drops By 18.4%

Snowflake Inc. (NYSE:SNOW) was the recipient of a significant decrease in short interest in 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 trading volume of 6,460,000 shares, the short-interest ratio is presently 1.6 days.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SNOW shares. Loop Capital upped their price target on Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Jefferies Financial Group raised their target price on Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. DA Davidson reaffirmed a “buy” rating and set a $175.00 target price on shares of Snowflake in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Oppenheimer upped their price objective on Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $188.06.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. This represents a 2.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank Slootman sold 45,896 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total transaction 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. This trade represents a 18.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 504,151 shares of company stock worth $84,973,139 over the last three months. Company insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

A number of institutional investors have recently made changes to their positions in SNOW. PUREfi Wealth LLC bought a new stake in shares of Snowflake during the fourth quarter valued at about $205,000. ABC Arbitrage SA acquired a new stake in Snowflake during the fourth quarter valued at $1,491,000. Chevy Chase Trust Holdings LLC raised its position in Snowflake by 4.2% during the fourth quarter. Chevy Chase Trust Holdings LLC now owns 221,166 shares of the company’s stock valued at $34,150,000 after acquiring an additional 8,878 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in shares of Snowflake by 240.2% during the 4th quarter. V Square Quantitative Management LLC now owns 888 shares of the company’s stock valued at $139,000 after acquiring an additional 627 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in Snowflake by 4.0% during the 4th quarter. Asset Management One Co. Ltd. now owns 118,225 shares of the company’s stock worth $18,756,000 after acquiring an additional 4,597 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Trading Down 1.7 %

NYSE:SNOW traded down $3.02 during mid-day trading on Thursday, reaching $179.86. The company’s stock had a trading volume of 3,928,178 shares, compared to its average volume of 5,114,036. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72. The company’s fifty day simple moving average is $169.02 and its two-hundred day simple moving average is $137.06. The stock has a market cap of $59.37 billion, a P/E ratio of -53.08 and a beta of 1.05. 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 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.