Snowflake (NYSE:SNOW) Receives “Outperform” Rating from Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of Snowflake (NYSE:SNOW) in a research report released on Thursday morning,Benzinga reports. Oppenheimer currently has a $180.00 target price on the stock.

A number of other equities analysts have also weighed in on the company. Evercore ISI upped their target price on Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday. KeyCorp boosted their price target on shares of Snowflake from $150.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday. Scotiabank cut their target price on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 22nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $175.00 price target on shares of Snowflake in a research report on Thursday, August 22nd. Finally, StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $180.23.

Snowflake Stock Performance

Snowflake stock opened at $167.44 on Thursday. Snowflake has a 52-week low of $107.13 and a 52-week high of $237.72. The stock’s 50 day moving average price is $120.06 and its two-hundred day moving average price is $127.80. The stock has a market capitalization of $56.13 billion, a price-to-earnings ratio of -49.39 and a beta of 0.83.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated 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 sale, the executive vice president now owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. The trade was a 2.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frank Slootman sold 6,251 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $715,051.89. Following the completion of the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $23,877,196.65. The trade was a 2.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,538 shares of company stock worth $7,061,544. Company insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Hedge funds and other institutional investors have recently modified their holdings of the business. LRI Investments LLC bought a new stake in shares of Snowflake in the 1st quarter worth approximately $29,000. Wellington Shields Capital Management LLC bought a new stake in Snowflake during the 2nd quarter valued at about $27,000. Groupama Asset Managment purchased a new position in Snowflake in the third quarter worth about $25,000. V Square Quantitative Management LLC purchased a new stake in shares of Snowflake during the third quarter valued at approximately $30,000. Finally, Global Financial Private Client LLC purchased a new position in Snowflake in the 1st quarter worth approximately $44,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

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.