Snowflake Inc. (NYSE:SNOW) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Snowflake Inc. (NYSE:SNOW) have been assigned an average recommendation of “Moderate Buy” from the thirty-eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and twenty-seven have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $183.89.

A number of research analysts have recently issued reports on SNOW shares. UBS Group reduced their price objective on Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. StockNews.com downgraded shares of Snowflake from a “hold” rating to a “sell” rating in a research note on Thursday, November 28th. Barclays raised their price target on shares of Snowflake from $172.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Jefferies Financial Group upped their price objective on shares of Snowflake from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, HSBC raised Snowflake from a “reduce” rating to a “hold” rating and upped their price target for the company from $119.00 to $121.00 in a research report on Friday, August 23rd.

Insider Activity

In other Snowflake news, Director Frank Slootman sold 6,251 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $715,051.89. Following the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $23,877,196.65. This trade represents a 2.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 3,029 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $346,487.31. Following the sale, the executive vice president now directly owns 753,464 shares of the company’s stock, valued at $86,188,746.96. The trade was a 0.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 294,384 shares of company stock valued at $47,993,609 over the last ninety days. 7.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. increased its holdings in Snowflake by 103.9% in the 2nd quarter. Blue Trust Inc. now owns 524 shares of the company’s stock worth $71,000 after acquiring an additional 267 shares in the last quarter. OFI Invest Asset Management grew its position in shares of Snowflake by 441.5% during the second quarter. OFI Invest Asset Management now owns 1,083 shares of the company’s stock worth $137,000 after purchasing an additional 883 shares in the last quarter. Means Investment CO. Inc. lifted its holdings in shares of Snowflake by 2.3% in the second quarter. Means Investment CO. Inc. now owns 13,129 shares of the company’s stock worth $1,774,000 after buying an additional 292 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Snowflake by 17.8% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 127,790 shares of the company’s stock worth $17,263,000 after acquiring an additional 19,324 shares during the last quarter. Finally, First Pacific Financial bought a new position in shares of Snowflake during the 2nd quarter valued at about $826,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Down 1.4 %

Shares of NYSE SNOW opened at $167.67 on Friday. The stock has a market capitalization of $55.35 billion, a P/E ratio of -49.46 and a beta of 1.03. Snowflake has a one year low of $107.13 and a one year high of $237.72. The firm’s 50 day simple moving average is $138.94 and its two-hundred day simple moving average is $129.66. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

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.