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

Shares of Snowflake Inc. (NYSE:SNOW) have been assigned an average recommendation of “Moderate Buy” from the thirty-eight analysts that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and twenty-seven have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $184.46.

A number of research firms have recently commented on SNOW. Canaccord Genuity Group dropped their price objective on Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Barclays upped their price target on shares of Snowflake from $172.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Hsbc Global Res raised shares of Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. Morgan Stanley reissued an “equal weight” rating and set a $175.00 target price on shares of Snowflake in a research note on Thursday, August 22nd. Finally, Monness Crespi & Hardt lifted their price target on shares of Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st.

Insider Buying and Selling at Snowflake

In related news, CAO Emily Ho sold 2,021 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $173.68, for a total value of $351,007.28. Following the transaction, the chief accounting officer now directly owns 26,874 shares in the company, valued at approximately $4,667,476.32. This trade represents a 6.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the completion of the transaction, the executive vice president now owns 691,755 shares in the company, valued at $124,515,900. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 292,901 shares of company stock worth $48,375,520 over the last three months. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp grew its stake in shares of Snowflake by 0.8% in the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after acquiring an additional 54,909 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Snowflake by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after purchasing an additional 138,663 shares during the period. Two Sigma Advisers LP grew its position in Snowflake by 27.9% in the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after purchasing an additional 881,700 shares during the last quarter. Ontario Teachers Pension Plan Board increased its holdings in shares of 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 period. Finally, Legal & General Group Plc raised its position in shares of Snowflake by 11.5% during the second quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock valued at $293,838,000 after buying an additional 223,936 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Price Performance

NYSE SNOW opened at $164.21 on Friday. The firm has a market capitalization of $54.21 billion, a PE ratio of -48.44 and a beta of 1.03. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake has a 12 month low of $107.13 and a 12 month high of $237.72. The company’s 50 day simple moving average is $142.93 and its 200 day simple moving average is $130.46.

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.