Snowflake (NYSE:SNOW) Now Covered by Analysts at Cantor Fitzgerald

Research analysts at Cantor Fitzgerald started coverage on shares of Snowflake (NYSE:SNOW) in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $201.00 price target on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 19.71% from the stock’s previous close.

SNOW has been the subject of several other reports. Royal Bank of Canada lifted their price objective on shares of Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Wedbush downgraded Snowflake from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. StockNews.com cut Snowflake from a “hold” rating to a “sell” rating in a report on Thursday. Barclays raised Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a report on Friday, January 10th. Finally, Wells Fargo & Company raised Snowflake from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $150.00 to $200.00 in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $188.06.

Snowflake Trading Up 1.3 %

Snowflake stock opened at $167.90 on Friday. The stock has a 50-day moving average price of $160.11 and a 200 day moving average price of $134.83. The company has a market capitalization of $55.43 billion, a price-to-earnings ratio of -49.53 and a beta of 1.05. Snowflake has a 52 week low of $107.13 and a 52 week high of $237.72. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Activity at Snowflake

In other news, CRO Christopher William Degnan sold 76,692 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the transaction, the executive now owns 346,741 shares of the company’s stock, valued at approximately $58,398,119.22. The trade was a 18.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total transaction of $99,882.00. Following the sale, the executive vice president now owns 690,647 shares of the company’s stock, valued at approximately $123,625,813. The trade was a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 376,904 shares of company stock valued at $62,545,855. Corporate insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Several hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Snowflake by 26.3% in the second quarter. Dimensional Fund Advisors LP now owns 268,985 shares of the company’s stock valued at $36,332,000 after acquiring an additional 56,027 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Snowflake by 3.2% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,865 shares of the company’s stock valued at $792,000 after purchasing an additional 180 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Snowflake by 1.1% during the 2nd quarter. Amalgamated Bank now owns 21,368 shares of the company’s stock worth $2,887,000 after purchasing an additional 241 shares during the period. Blair William & Co. IL increased its position in shares of Snowflake by 2.3% during the 2nd quarter. Blair William & Co. IL now owns 39,095 shares of the company’s stock worth $5,281,000 after purchasing an additional 889 shares during the last quarter. Finally, Intech Investment Management LLC raised its holdings in Snowflake by 2.8% in the 2nd quarter. Intech Investment Management LLC now owns 18,922 shares of the company’s stock valued at $2,556,000 after buying an additional 522 shares during the period. Hedge funds and other 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.