Snowflake (NYSE:SNOW) Earns Neutral Rating from Guggenheim

Snowflake (NYSE:SNOW)‘s stock had its “neutral” rating restated by equities research analysts at Guggenheim in a research report issued to clients and investors on Thursday,Benzinga reports.

Other research analysts have also issued research reports about the company. UBS Group reduced their price target on Snowflake from $265.00 to $250.00 and set a “buy” rating on the stock in a research note on Wednesday, August 13th. Royal Bank Of Canada increased their target price on Snowflake from $236.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 4th. Morgan Stanley initiated coverage on Snowflake in a research report on Tuesday, June 24th. They issued an “overweight” rating and a $262.00 target price on the stock. HSBC lowered Snowflake from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Finally, Jefferies Financial Group increased their target price on Snowflake from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and an average price target of $255.53.

Snowflake Stock Performance

SNOW opened at $238.69 on Thursday. The stock has a market cap of $79.69 billion, a P/E ratio of -57.51 and a beta of 1.22. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.58 and a quick ratio of 1.58. The stock’s 50 day simple moving average is $211.41 and its 200 day simple moving average is $185.91. Snowflake has a 1-year low of $107.13 and a 1-year high of $249.99.

Insiders Place Their Bets

In related news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $208.69, for a total value of $84,102.07. Following the completion of the transaction, the director directly owned 26,136 shares in the company, valued at approximately $5,454,321.84. This trade represents a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Teresa Briggs sold 1,146 shares of Snowflake stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $217.74, for a total value of $249,530.04. Following the completion of the transaction, the director owned 4,474 shares of the company’s stock, valued at $974,168.76. This trade represents a 20.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,226,909 shares of company stock valued at $719,343,881 over the last ninety days. Insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

A number of hedge funds have recently bought and sold shares of SNOW. Goldman Sachs Group Inc. boosted its stake in Snowflake by 22.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company’s stock valued at $524,293,000 after acquiring an additional 650,775 shares during the period. CenterBook Partners LP acquired a new position in Snowflake in the first quarter valued at approximately $2,381,000. Berkshire Capital Holdings Inc. boosted its stake in Snowflake by 71,500.0% in the first quarter. Berkshire Capital Holdings Inc. now owns 7,160 shares of the company’s stock valued at $1,047,000 after acquiring an additional 7,150 shares during the period. Lyell Wealth Management LP boosted its stake in Snowflake by 5.1% in the first quarter. Lyell Wealth Management LP now owns 60,685 shares of the company’s stock valued at $8,870,000 after acquiring an additional 2,955 shares during the period. Finally, ORG Wealth Partners LLC acquired a new position in Snowflake in the first quarter valued at approximately $898,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.