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

Snowflake Inc. (NYSE:SNOW) has earned a consensus recommendation of “Moderate Buy” from the thirty-eight research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $187.11.

SNOW has been the subject of a number of research analyst reports. Bank of America upped their price objective on shares of Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Wells Fargo & Company upgraded shares of Snowflake from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $150.00 to $200.00 in a research report on Tuesday. Piper Sandler lifted their price objective on Snowflake from $185.00 to $208.00 and gave the stock an “overweight” rating in a report on Monday. JMP Securities reissued a “market outperform” rating and set a $190.00 target price on shares of Snowflake in a report on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st.

Snowflake Trading Up 1.5 %

Shares of SNOW stock opened at $161.16 on Thursday. Snowflake has a 1-year low of $107.13 and a 1-year high of $237.72. The company has a market cap of $53.20 billion, a price-to-earnings ratio of -47.54 and a beta of 1.05. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a 50 day simple moving average of $154.55 and a 200-day simple moving average of $133.42.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 558 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 transaction of $99,882.00. Following the sale, the executive vice president now directly owns 690,647 shares in the company, valued at $123,625,813. This represents a 0.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Slootman sold 100,000 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the completion of the transaction, the director now owns 195,281 shares of the company’s stock, valued at approximately $30,268,555. This trade represents a 33.87 % 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 valued at $62,545,855. 7.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Snowflake

A number of hedge funds have recently bought and sold shares of SNOW. Toronto Dominion Bank increased its stake in shares of Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after buying an additional 7,239 shares during the period. Independent Advisor Alliance increased its position in shares of Snowflake by 15.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after purchasing an additional 548 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Snowflake by 1.4% in the 3rd quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after purchasing an additional 7,373 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Snowflake by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,247,511 shares of the company’s stock worth $143,289,000 after purchasing an additional 36,704 shares during the last quarter. Finally, Sender Co & Partners Inc. grew its stake in shares of Snowflake by 100.9% during the third quarter. Sender Co & Partners Inc. now owns 8,522 shares of the company’s stock worth $979,000 after purchasing an additional 4,280 shares in the last quarter. 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.