Snowflake (NYSE:SNOW) Now Covered by Cantor Fitzgerald

Equities research analysts at Cantor Fitzgerald assumed coverage on shares of Snowflake (NYSE:SNOW) in a report issued on Friday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $201.00 price target on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 17.62% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. KeyCorp boosted their target price on shares of Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Royal Bank of Canada boosted their price objective on Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Needham & Company LLC increased their target price on Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Argus started coverage on Snowflake in a report on Tuesday, October 1st. They set a “hold” rating for the company. Finally, Jefferies Financial Group raised their price objective on shares of Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $188.06.

Snowflake Trading Up 1.9 %

Shares of SNOW stock opened at $170.89 on Friday. Snowflake has a 12 month low of $107.13 and a 12 month high of $237.72. The company has a market cap of $56.41 billion, a PE ratio of -50.41 and a beta of 1.05. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The business’s 50 day moving average is $161.11 and its two-hundred day moving average is $135.02.

Insider Activity

In other news, Director Frank Slootman sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the transaction, the director now directly owns 195,281 shares in the company, valued at approximately $30,268,555. This represents a 33.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the sale, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. This represents a 2.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 376,904 shares of company stock worth $62,545,855. 7.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SNOW. Ontario Teachers Pension Plan Board raised its holdings in Snowflake by 19,399.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after purchasing an additional 2,559,144 shares during the last quarter. Two Sigma Advisers LP raised its stake in shares of Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after buying an additional 881,700 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Snowflake by 210.0% in the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock valued at $131,656,000 after buying an additional 660,168 shares during the period. SG Americas Securities LLC boosted its stake in Snowflake by 471.9% in the third quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock valued at $87,489,000 after acquiring an additional 628,511 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in Snowflake by 12,318.3% during the 3rd quarter. International Assets Investment Management LLC now owns 530,883 shares of the company’s stock worth $60,977,000 after acquiring an additional 526,608 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

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.