Snowflake (NYSE:SNOW) Earns Overweight Rating from Piper Sandler

Piper Sandler reissued their overweight rating on shares of Snowflake (NYSE:SNOW) in a report published on Thursday,Benzinga reports. The firm currently has a $185.00 price target on the stock, up from their prior price target of $165.00.

Other research analysts have also issued research reports about the stock. Monness Crespi & Hardt raised their price objective on shares of Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a report on Thursday. Canaccord Genuity Group cut their price target on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Bank of America reduced their price objective on shares of Snowflake from $200.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. DA Davidson reaffirmed a “buy” rating and set a $175.00 target price on shares of Snowflake in a research report on Thursday, October 3rd. Finally, Loop Capital reduced their price target on Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $180.23.

Snowflake Stock Down 2.3 %

Shares of SNOW opened at $167.44 on Thursday. The stock has a market cap of $56.13 billion, a PE ratio of -49.39 and a beta of 0.83. Snowflake has a 12-month low of $107.13 and a 12-month high of $237.72. The business has a 50-day simple moving average of $120.06 and a two-hundred day simple moving average of $127.80.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of the transaction, the director now directly owns 218,246 shares of the company’s stock, valued at $23,998,330.16. This represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Benoit Dageville sold 287 shares of Snowflake stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total value of $31,974.67. Following the sale, the insider now owns 53,250 shares in the company, valued at $5,932,582.50. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock valued at $7,061,544 over the last ninety days. 7.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Westside Investment Management Inc. grew its position in shares of Snowflake by 47.4% during the 3rd quarter. Westside Investment Management Inc. now owns 12,344 shares of the company’s stock valued at $1,438,000 after acquiring an additional 3,971 shares during the period. Rehmann Capital Advisory Group lifted its stake in Snowflake by 10.9% in the third quarter. Rehmann Capital Advisory Group now owns 1,932 shares of the company’s stock valued at $222,000 after purchasing an additional 190 shares during the last quarter. Sunbelt Securities Inc. grew its holdings in Snowflake by 2.6% during the third quarter. Sunbelt Securities Inc. now owns 5,535 shares of the company’s stock valued at $636,000 after purchasing an additional 142 shares during the period. Toronto Dominion Bank increased its position in Snowflake by 24.1% in the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after buying an additional 7,239 shares during the last quarter. Finally, Shaolin Capital Management LLC bought a new stake in shares of Snowflake in the third quarter valued at $345,000. Institutional investors own 65.10% of the company’s stock.

About Snowflake

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.