Snowflake (NYSE:SNOW) Given Neutral Rating at Guggenheim

Snowflake (NYSE:SNOW)‘s stock had its “neutral” rating reissued by equities researchers at Guggenheim in a research note issued on Thursday,Benzinga reports.

SNOW has been the topic of a number of other reports. Oppenheimer raised their price target on shares of Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday. Needham & Company LLC increased their price objective on shares of Snowflake from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday. StockNews.com raised shares of Snowflake from a “sell” rating to a “hold” rating in a report on Tuesday, February 18th. Wolfe Research raised shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective on the stock in a report on Tuesday, February 18th. Finally, Wedbush set a $210.00 price objective on shares of Snowflake in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $200.35.

Snowflake Stock Performance

Shares of Snowflake stock traded up $16.31 during trading hours on Thursday, reaching $182.50. The company’s stock had a trading volume of 11,179,000 shares, compared to its average volume of 5,611,323. The company’s 50 day simple moving average is $172.79 and its 200 day simple moving average is $144.94. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake has a one year low of $107.13 and a one year high of $233.88. The stock has a market cap of $60.24 billion, a P/E ratio of -53.92 and a beta of 1.07.

Insider Activity

In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $174.06, for a total transaction of $2,224,834.92. Following the completion of the sale, the executive now owns 323,731 shares of the company’s stock, valued at $56,348,617.86. This trade represents a 3.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frank Slootman sold 127,247 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the completion of the transaction, the director now owns 195,281 shares in the company, valued at approximately $34,418,276.25. This represents a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 371,810 shares of company stock valued at $63,340,544. 7.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Snowflake

Several institutional investors and hedge funds have recently modified their holdings of the stock. Asset Dedication LLC increased its holdings in shares of Snowflake by 6.8% in the fourth quarter. Asset Dedication LLC now owns 922 shares of the company’s stock valued at $142,000 after purchasing an additional 59 shares during the last quarter. Quarry LP increased its holdings in shares of Snowflake by 9.8% in the fourth quarter. Quarry LP now owns 662 shares of the company’s stock valued at $102,000 after purchasing an additional 59 shares during the last quarter. Breakwater Capital Group increased its holdings in shares of Snowflake by 2.2% in the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock valued at $454,000 after purchasing an additional 62 shares during the last quarter. Gabelli Funds LLC increased its holdings in shares of Snowflake by 3.3% in the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock valued at $317,000 after purchasing an additional 65 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Snowflake by 0.6% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock valued at $2,077,000 after purchasing an additional 69 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.