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

Shares of Snowflake Inc. (NYSE:SNOW) have earned a consensus rating of “Moderate Buy” from the thirty-eight brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-six have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $184.46.

Several analysts recently issued reports on the company. StockNews.com lowered Snowflake from a “hold” rating to a “sell” rating in a report on Thursday, November 28th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 target price on shares of Snowflake in a research report on Tuesday, November 19th. Oppenheimer reissued an “outperform” rating and issued a $180.00 price objective on shares of Snowflake in a report on Thursday, November 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $185.00 price target on shares of Snowflake in a research note on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st.

Snowflake Trading Up 1.3 %

SNOW opened at $166.29 on Friday. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72. The firm’s fifty day moving average is $143.77 and its two-hundred day moving average is $130.62. The firm has a market cap of $54.89 billion, a PE ratio of -49.05 and a beta of 1.03. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Insider Activity

In related news, EVP Christian Kleinerman sold 861 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total value of $95,924.01. Following the completion of the transaction, the executive vice president now directly owns 751,755 shares of the company’s stock, valued at $83,753,024.55. This trade represents a 0.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frank Slootman sold 6,714 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $171.00, for a total transaction of $1,148,094.00. Following the completion of the sale, the director now directly owns 196,454 shares in the company, valued at approximately $33,593,634. The trade was a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 292,901 shares of company stock valued at $48,375,520. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its holdings in Snowflake by 24.1% in the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after purchasing an additional 7,239 shares during the last quarter. Independent Advisor Alliance increased its position in Snowflake by 15.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after acquiring an additional 548 shares during the period. Franklin Resources Inc. raised its stake in shares of Snowflake by 1.4% during the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after purchasing an additional 7,373 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Snowflake by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,247,511 shares of the company’s stock valued at $143,289,000 after acquiring an additional 36,704 shares in the last quarter. Finally, Sender Co & Partners Inc. boosted its stake in Snowflake by 100.9% during the 3rd quarter. Sender Co & Partners Inc. now owns 8,522 shares of the company’s stock valued at $979,000 after purchasing an additional 4,280 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.