This Is What Whales Are Betting On Snowflake
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Snowflake (NYSE:SNOW) by a large investor or institution, as indicated by unusual options activity. The sentiment among these big-money traders is 17% bullish and 82% bearish. The targeted price range for Snowflake over the last 3 months is $155.0 to $210.0. Several financial institutions have maintained or downgraded their ratings on Snowflake, with price targets ranging from $180 to $215.
July 14, 2023 | 6:03 pm
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Unusual options activity indicates a significant bearish stance on Snowflake. The sentiment among big-money traders is largely bearish, and price targets from financial institutions range from $180 to $215.
The bearish stance taken by a large investor or institution, as indicated by the unusual options activity, could potentially drive the stock price down in the short term. The largely bearish sentiment among big-money traders further supports this. Additionally, the price targets set by various financial institutions, while higher than the current price, are within the range targeted by the whales, indicating that they also expect limited upside potential.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100