Snowflake (NYSE:SNOW) Receives Overweight Rating from Piper Sandler

Piper Sandler reissued their overweight rating on shares of Snowflake (NYSE:SNOW) in a research note issued to investors on Tuesday morning,Benzinga reports. Piper Sandler currently has a $185.00 price objective on the stock.

A number of other equities analysts also recently commented on SNOW. Stifel Nicolaus reduced their price objective on Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. Rosenblatt Securities restated a “buy” rating and set a $180.00 price target on shares of Snowflake in a report on Tuesday, November 19th. Argus began coverage on Snowflake in a research report on Tuesday, October 1st. They issued a “hold” rating on the stock. Hsbc Global Res upgraded shares of Snowflake from a “moderate sell” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Evercore ISI increased their target price on shares of Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.46.

Snowflake Price Performance

Snowflake stock opened at $170.83 on Tuesday. Snowflake has a 52-week low of $107.13 and a 52-week high of $237.72. The firm has a market capitalization of $56.39 billion, a price-to-earnings ratio of -50.39 and a beta of 1.03. 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 company has a fifty day simple moving average of $141.26 and a 200-day simple moving average of $130.00.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total value of $2,700,000.00. Following the completion of the sale, the executive vice president now owns 691,755 shares in the company, valued at approximately $124,515,900. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 1,712 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total value of $306,448.00. Following the completion of the sale, the director now directly owns 205,965 shares of the company’s stock, valued at $36,867,735. The trade was a 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 283,158 shares of company stock valued at $46,709,467 in the last ninety days. Insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently made changes to their positions in SNOW. Blue Trust Inc. grew its position in Snowflake by 103.9% in the 2nd quarter. Blue Trust Inc. now owns 524 shares of the company’s stock valued at $71,000 after buying an additional 267 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Snowflake by 17.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 127,790 shares of the company’s stock valued at $17,263,000 after buying an additional 19,324 shares during the period. Fifth Third Bancorp boosted its stake in shares of Snowflake by 9.3% in the second quarter. Fifth Third Bancorp now owns 3,336 shares of the company’s stock valued at $451,000 after buying an additional 285 shares in the last quarter. PSI Advisors LLC boosted its position in shares of Snowflake by 87.3% during the 2nd quarter. PSI Advisors LLC now owns 429 shares of the company’s stock worth $58,000 after purchasing an additional 200 shares in the last quarter. Finally, Boothe Investment Group Inc. acquired a new position in shares of Snowflake during the 2nd quarter worth $3,691,000. Hedge funds and other institutional investors 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.