Snowflake Sees Unusually High Options Volume (NYSE:SNOW)

Snowflake Inc. (NYSE:SNOW - Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Investors bought 86,533 call options on the company. This represents an increase of approximately 51% compared to the typical volume of 57,241 call options.

Insider Activity at Snowflake

In related news, CAO Emily Ho sold 2,599 shares of Snowflake stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $210.07, for a total transaction of $545,971.93. Following the completion of the transaction, the chief accounting officer now directly owns 37,763 shares of the company's stock, valued at approximately $7,932,873.41. The trade was a 6.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction on Friday, April 4th. The stock was sold at an average price of $129.25, for a total value of $52,087.75. Following the transaction, the director now directly owns 26,375 shares of the company's stock, valued at $3,408,968.75. This trade represents a 1.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 594,638 shares of company stock worth $121,002,038 over the last 90 days. Company insiders own 6.80% of the company's stock.

Institutional Trading of Snowflake

A number of hedge funds and other institutional investors have recently made changes to their positions in SNOW. Opal Wealth Advisors LLC bought a new stake in Snowflake in the first quarter worth about $26,000. CVA Family Office LLC raised its holdings in shares of Snowflake by 80.0% in the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock worth $29,000 after purchasing an additional 88 shares in the last quarter. West Paces Advisors Inc. acquired a new stake in Snowflake during the fourth quarter valued at approximately $31,000. Spurstone Advisory Services LLC bought a new stake in Snowflake during the fourth quarter worth approximately $31,000. Finally, Capital A Wealth Management LLC acquired a new position in Snowflake in the fourth quarter worth approximately $31,000. 65.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SNOW has been the subject of a number of analyst reports. Guggenheim reissued a "neutral" rating on shares of Snowflake in a research report on Thursday, February 27th. Morgan Stanley started coverage on Snowflake in a report on Tuesday. They issued an "overweight" rating and a $262.00 price target for the company. Jefferies Financial Group raised their price objective on Snowflake from $220.00 to $250.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Wall Street Zen raised Snowflake from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. Finally, Scotiabank reiterated an "outperform" rating on shares of Snowflake in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-four have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $225.22.

Snowflake Stock Performance

SNOW stock traded up $9.39 during midday trading on Tuesday, reaching $223.10. The company had a trading volume of 7,200,279 shares, compared to its average volume of 5,444,209. The firm has a market capitalization of $74.48 billion, a PE ratio of -52.99 and a beta of 1.21. The stock has a 50 day moving average price of $184.50 and a 200 day moving average price of $172.08. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $224.61. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94.

Snowflake (NYSE:SNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Snowflake had a negative net margin of 36.43% and a negative return on equity of 37.75%. The company's revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 earnings per share. Analysts anticipate that Snowflake will post -2.36 earnings per share for the current year.

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.

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