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

Snowflake Inc. (NYSE:SNOW) has been assigned an average recommendation of “Moderate Buy” from the forty-one analysts that are currently covering the company, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $201.76.

SNOW has been the topic of a number of research analyst reports. DA Davidson cut their target price on Snowflake from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. KeyCorp reduced their price objective on shares of Snowflake from $220.00 to $192.00 and set an “overweight” rating for the company in a research note on Thursday. Guggenheim reiterated a “neutral” rating on shares of Snowflake in a research report on Thursday, February 27th. Jefferies Financial Group cut their price target on shares of Snowflake from $220.00 to $190.00 and set a “buy” rating for the company in a report on Monday, March 31st. Finally, Bank of America boosted their price objective on Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th.

Snowflake Trading Down 1.9 %

SNOW opened at $143.34 on Friday. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The firm has a market capitalization of $47.32 billion, a PE ratio of -42.28 and a beta of 1.13. 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 company’s 50-day moving average is $159.07 and its 200 day moving average is $154.35.

Insider Activity at Snowflake

In other Snowflake news, Director Frank Slootman sold 127,247 shares of Snowflake stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total value of $22,427,283.75. Following the completion of the transaction, the director now directly owns 195,281 shares of the company’s stock, valued at $34,418,276.25. This trade represents a 39.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the sale, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 491,589 shares of company stock valued at $82,405,796 in the last 90 days. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several hedge funds have recently added to or reduced their stakes in the business. Prospect Financial Services LLC purchased a new position in Snowflake during the fourth quarter worth about $288,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Snowflake by 1.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock worth $104,028,000 after purchasing an additional 8,857 shares during the period. Bourgeon Capital Management LLC acquired a new position in Snowflake during the fourth quarter worth about $5,851,000. Stephens Consulting LLC raised its holdings in Snowflake by 7,407.4% in the 4th quarter. Stephens Consulting LLC now owns 2,027 shares of the company’s stock valued at $313,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Kirtland Hills Capital Management LLC increased its stake in shares of Snowflake by 40.1% during the 4th quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company’s stock valued at $2,458,000 after acquiring an additional 4,559 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

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.