Snowflake Inc. (NYSE:SNOW) Given Average Rating of “Moderate Buy” by Analysts

Snowflake Inc. (NYSE:SNOW) has earned an average rating of “Moderate Buy” from the thirty-nine brokerages that are covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation, thirty have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $203.83.

Several analysts recently issued reports on the company. Wells Fargo & Company upped their target price on Snowflake from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Stifel Nicolaus increased their price objective on Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Guggenheim restated a “neutral” rating on shares of Snowflake in a report on Thursday, February 27th. Scotiabank increased their price target on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. Finally, Monness Crespi & Hardt boosted their price objective on shares of Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th.

Snowflake Stock Down 2.9 %

Shares of SNOW stock opened at $146.29 on Tuesday. The firm’s fifty day moving average price is $171.49 and its two-hundred day moving average price is $151.82. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake has a 1 year low of $107.13 and a 1 year high of $194.40. The firm has a market capitalization of $48.29 billion, a P/E ratio of -43.15 and a beta of 1.07.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 1,783 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $262,528.92. Following the completion of the sale, the director now owns 192,511 shares of the company’s stock, valued at approximately $28,345,319.64. This represents a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the transaction, the executive vice president now owns 552,930 shares in the company, valued at $103,121,445. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 503,968 shares of company stock worth $84,363,550. 7.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Snowflake

A number of hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Snowflake by 1,325.2% in the 4th quarter. Wellington Management Group LLP now owns 108,527 shares of the company’s stock worth $16,758,000 after acquiring an additional 100,912 shares in the last quarter. 111 Capital acquired a new stake in Snowflake during the fourth quarter worth approximately $578,000. NorthCrest Asset Manangement LLC lifted its stake in Snowflake by 12.7% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 7,785 shares of the company’s stock valued at $1,202,000 after buying an additional 875 shares during the period. PKO Investment Management Joint Stock Co acquired a new position in Snowflake in the fourth quarter valued at approximately $2,007,000. Finally, Centaurus Financial Inc. boosted its holdings in shares of Snowflake by 15.8% during the 4th quarter. Centaurus Financial Inc. now owns 8,291 shares of the company’s stock worth $1,280,000 after buying an additional 1,132 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

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.