Snowflake (NYSE:SNOW) Receives Buy Rating from Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Snowflake (NYSE:SNOWFree Report) in a report released on Thursday morning, Benzinga reports. They currently have a $195.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada decreased their price objective on Snowflake from $226.00 to $183.00 and set an outperform rating for the company in a report on Wednesday. Mizuho decreased their price target on Snowflake from $205.00 to $180.00 and set a buy rating for the company in a report on Wednesday. Robert W. Baird dropped their price objective on shares of Snowflake from $210.00 to $200.00 and set an outperform rating on the stock in a research note on Thursday, May 23rd. UBS Group lifted their target price on shares of Snowflake from $185.00 to $190.00 and gave the company a neutral rating in a report on Thursday, May 23rd. Finally, Needham & Company LLC reissued a buy rating and set a $210.00 price target on shares of Snowflake in a report on Wednesday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $198.92.

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Snowflake Price Performance

Shares of Snowflake stock opened at $132.03 on Thursday. The firm has a fifty day moving average price of $153.84 and a 200 day moving average price of $178.97. Snowflake has a 1 year low of $128.41 and a 1 year high of $237.72.

Insider Activity at Snowflake

In other Snowflake news, EVP Grzegorz Czajkowski sold 683 shares of Snowflake stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $110,249.86. Following the transaction, the executive vice president now directly owns 86,208 shares of the company’s stock, valued at $13,915,695.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Snowflake news, CEO Sridhar Ramaswamy purchased 31,542 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were acquired at an average price of $158.52 per share, with a total value of $5,000,037.84. Following the purchase, the chief executive officer now directly owns 31,542 shares in the company, valued at approximately $5,000,037.84. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Grzegorz Czajkowski sold 683 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $161.42, for a total value of $110,249.86. Following the sale, the executive vice president now directly owns 86,208 shares of the company’s stock, valued at $13,915,695.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 83,880 shares of company stock valued at $12,890,065. 7.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SNOW. Accent Capital Management LLC acquired a new position in shares of Snowflake in the 4th quarter worth approximately $25,000. LRI Investments LLC acquired a new position in Snowflake during the first quarter worth $29,000. Provence Wealth Management Group purchased a new position in shares of Snowflake during the third quarter worth $30,000. Riverview Trust Co acquired a new stake in shares of Snowflake in the first quarter valued at $31,000. Finally, Hartford Financial Management Inc. purchased a new stake in shares of Snowflake in the 1st quarter valued at $32,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

About Snowflake

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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.

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Analyst Recommendations for Snowflake (NYSE:SNOW)

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