Snowflake (NYSE:SNOW) Upgraded by Daiwa America to Strong-Buy Rating

Snowflake (NYSE:SNOW) was upgraded by Daiwa America to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

SNOW has been the topic of a number of other research reports. Truist Financial cut their price objective on shares of Snowflake from $225.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday. UBS Group boosted their price target on shares of Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Macquarie started coverage on Snowflake in a report on Wednesday. They issued a “neutral” rating and a $160.00 price objective for the company. Rosenblatt Securities upped their target price on Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Finally, Jefferies Financial Group decreased their price target on Snowflake from $220.00 to $190.00 and set a “buy” rating for the company in a research note on Monday. Ten investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $203.05.

Snowflake Trading Up 3.1 %

NYSE SNOW opened at $154.23 on Tuesday. Snowflake has a 52 week low of $107.13 and a 52 week high of $194.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The stock’s 50 day moving average price is $170.55 and its two-hundred day moving average price is $152.08. The stock has a market capitalization of $50.91 billion, a price-to-earnings ratio of -45.50 and a beta of 1.07.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at $47,756,878.10. This trade represents a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 491,186 shares of company stock valued at $82,353,709. Company insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Large investors have recently bought and sold shares of the company. Groupama Asset Managment acquired a new stake in Snowflake in the third quarter valued at $25,000. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake in the 4th quarter valued at about $29,000. West Paces Advisors Inc. acquired a new stake in shares of Snowflake in the fourth quarter valued at about $31,000. Spurstone Advisory Services LLC bought a new position in shares of Snowflake during the fourth quarter worth about $31,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of Snowflake in the fourth quarter worth approximately $31,000. 65.10% of the stock is currently owned by institutional investors.

About Snowflake

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.