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Will Snowflake Inc (SNOW) benefit from Wall Street bulls Calls?

Snowflake Inc (NYSE: SNOW) is -21.51% lower on its value in year-to-date trading and has touched a low of $135.26 and a high of $237.72 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The SNOW stock was last observed hovering at around $160.52 in the last trading session, with the day’s loss setting it -4.33%.

Currently trading at $156.19, the stock is -3.55% and -19.51% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.6 million and changing -2.70% at the moment leaves the stock -10.87% off its SMA200. SNOW registered 9.91% gain for a year compared to 6-month gain of 2.24%. The firm has a 50-day simple moving average (SMA 50) of $17.33 and a 200-day simple moving average (SMA200) of -$49.89.

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The stock witnessed a -16.35% loss in the last 1 month and extending the period to 3 months gives it a -21.51%, and is -1.23% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.25% over the week and 3.34% over the month.

Snowflake Inc (SNOW) has around 7004 employees, a market worth around $52.20B and $2.81B in sales. Fwd P/E is 114.33. Profit margin for the company is -29.79%. Distance from 52-week low is 15.47% and -34.30% from its 52-week high. The company has generated returns on investments over the last 12 months (-15.39%).

Snowflake Inc quarterly earnings per share for the current quarter are estimated at $0.18 with sales reaching $786.3M over the same period.The EPS is expected to shrink by -4.05% this year, but quarterly earnings will post 22.20% year-over-year.

Snowflake Inc (SNOW) Top Institutional Holders

1,483 institutions hold shares in Snowflake Inc (SNOW), with institutional investors hold 69.16% of the company’s shares. The shares outstanding are 334.45M, and float is at 307.55M with Short Float at 2.83%. Institutions hold 64.59% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 18.69 million shares valued at $3.29 billion. The investor’s holdings represent 5.67% of the SNOW Shares outstanding. As of Jun 29, 2023, the second largest holder is Altimeter Capital Management, LP with 15.37 million shares valued at $2.7 billion to account for 4.66% of the shares outstanding. The other top investors are Blackrock Inc. which holds 14.09 million shares representing 4.27% and valued at over $2.48 billion, while Morgan Stanley holds 4.04% of the shares totaling 13.34 million with a market value of $2.35 billion.

Snowflake Inc (SNOW) Insider Activity

The most recent transaction is an insider purchase by Ramaswamy Sridhar,the company’sChief Executive Officer. SEC filings show that Ramaswamy Sridhar bought 31,542 shares of the company’s common stock on Mar 25 ’24 at a price of $158.52 per share for a total of $5.0 million. Following the purchase, the insider now owns 31542.0 shares.

Snowflake Inc disclosed in a document filed with the SEC on Mar 19 ’24 that Ho Emily (Chief Accounting Officer) sold a total of 1,968 shares of the company’s common stock. The trade occurred on Mar 19 ’24 and was made at $157.41 per share for $0.31 million. Following the transaction, the insider now directly holds 30425.0 shares of the SNOW stock.

Still, SEC filings show that on Mar 18 ’24, Slootman Frank (CEO and Chairman) disposed off 19,764 shares at an average price of $156.66 for $3.1 million. The insider now directly holds 233,297 shares of Snowflake Inc (SNOW).

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