On March 16, 2023 at 13:15:30 ET an unusually large $4,750.00K block of Call contracts in Snowflake (SNOW) was bought, with a strike price of $160.00 / share, expiring in 309 days (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 1.73 sigmas above the mean, placing it in the 95.94 percentile of all recent large trades made in SNOW options.
This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 31.99% Upside
As of March 15, 2023, the average one-year price target for Snowflake is $184.23. The forecasts range from a low of $106.05 to a high of $525.00. The average price target represents an increase of 31.99% from its latest reported closing price of $139.58.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Snowflake is $2,094MM, an increase of 1.37%. The projected annual non-GAAP EPS is $0.23.
What is the Fund Sentiment?
There are 1501 funds or institutions reporting positions in Snowflake. This is a decrease of 10 owner(s) or 0.66% in the last quarter. Average portfolio weight of all funds dedicated to SNOW is 0.70%, a decrease of 18.12%. Total shares owned by institutions decreased in the last three months by 0.84% to 240,766K shares. The put/call ratio of SNOW is 0.93, indicating a bullish outlook.
What are Large Shareholders Doing?
Altimeter Capital Management holds 15,369K shares representing 4.78% ownership of the company. In it’s prior filing, the firm reported owning 17,002K shares, representing a decrease of 10.62%. The firm decreased its portfolio allocation in SNOW by 2.26% over the last quarter.
Sc Us holds 13,634K shares representing 4.24% ownership of the company. In it’s prior filing, the firm reported owning 13,845K shares, representing a decrease of 1.55%. The firm decreased its portfolio allocation in SNOW by 61.25% over the last quarter.
ICONIQ Capital holds 11,422K shares representing 3.55% ownership of the company. In it’s prior filing, the firm reported owning 14,423K shares, representing a decrease of 26.27%. The firm decreased its portfolio allocation in SNOW by 20.14% over the last quarter.
Capital Research Global Investors holds 8,528K shares representing 2.65% ownership of the company. In it’s prior filing, the firm reported owning 8,216K shares, representing an increase of 3.66%. The firm decreased its portfolio allocation in SNOW by 19.36% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 8,271K shares representing 2.57% ownership of the company. In it’s prior filing, the firm reported owning 8,064K shares, representing an increase of 2.50%. The firm decreased its portfolio allocation in SNOW by 20.01% over the last quarter.
Snowflake Background Information
(This description is provided by the company.)
Snowflake Inc. is a cloud computing-based data warehousing company based in San Mateo, California. It was founded in July 2012 and was publicly launched in October 2014 after two years in stealth mode. The company’s name was chosen as a tribute to the founders’ love of winter sports.
This article originally appeared on Fintel
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