Snowflake Inc. (NYSE:SNOW) Receives Average Rating of “Moderate Buy” from Brokerages

Snowflake Inc. (NYSE:SNOW) has received a consensus recommendation of “Moderate Buy” from the thirty-nine research firms that are presently covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $205.08.

SNOW has been the subject of several research analyst reports. Evercore ISI upped their price objective on shares of Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Jefferies Financial Group raised their price target on Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Needham & Company LLC boosted their price objective on Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Royal Bank of Canada raised their target price on shares of Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Finally, UBS Group upped their price target on shares of Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th.

Snowflake Stock Up 3.1 %

Shares of NYSE:SNOW opened at $163.36 on Tuesday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a 50 day simple moving average of $172.76 and a 200-day simple moving average of $150.25. The company has a market capitalization of $53.93 billion, a PE ratio of -48.19 and a beta of 1.07. Snowflake has a twelve month low of $107.13 and a twelve month high of $194.40.

Insider Buying and Selling at Snowflake

In other Snowflake 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 value of $2,797,500.00. Following the completion of the transaction, the executive vice president now directly owns 552,930 shares in the company, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frank Slootman sold 100,000 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $155.00, for a total value of $15,500,000.00. Following the sale, the director now owns 195,281 shares in the company, valued at $30,268,555. This trade represents a 33.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 303,968 shares of company stock worth $50,900,550. 7.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Snowflake

Several large investors have recently added to or reduced their stakes in SNOW. Wellington Management Group LLP raised its stake in Snowflake by 1,325.2% during the fourth quarter. Wellington Management Group LLP now owns 108,527 shares of the company’s stock worth $16,758,000 after purchasing an additional 100,912 shares during the period. 111 Capital purchased a new position in shares of Snowflake in the 4th quarter worth $578,000. NorthCrest Asset Manangement LLC grew its position in Snowflake by 12.7% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 7,785 shares of the company’s stock valued at $1,202,000 after acquiring an additional 875 shares during the period. PKO Investment Management Joint Stock Co acquired a new stake in Snowflake during the fourth quarter worth about $2,007,000. Finally, Centaurus Financial Inc. raised its holdings in shares of Snowflake by 15.8% in the 4th quarter. Centaurus Financial Inc. now owns 8,291 shares of the company’s stock worth $1,280,000 after purchasing an additional 1,132 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

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.