Snowflake Inc. (NYSE:SNOW) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Snowflake Inc. (NYSE:SNOW) has received an average rating of “Moderate Buy” from the thirty-nine research firms that are currently covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation, thirty have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $205.08.

A number of equities analysts have recently commented on SNOW shares. BTIG Research upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a research note on Thursday, February 20th. Wedbush set a $210.00 price target on Snowflake in a research report on Wednesday, January 22nd. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a research report on Thursday, February 27th. Canaccord Genuity Group increased their price objective on Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Finally, Monness Crespi & Hardt boosted their target price on shares of Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 27th.

Snowflake Stock Performance

Shares of SNOW opened at $150.60 on Tuesday. The stock has a market capitalization of $49.71 billion, a price-to-earnings ratio of -44.42 and a beta of 1.07. Snowflake has a 12 month low of $107.13 and a 12 month high of $194.40. The firm has a fifty day simple moving average of $171.99 and a 200 day simple moving average of $151.30. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Activity

In other Snowflake news, Director Frank Slootman sold 127,247 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the completion of the transaction, the director now directly owns 195,281 shares in the company, valued at $34,418,276.25. The trade was a 39.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Scarpelli sold 300,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the sale, the chief financial officer now owns 292,610 shares of the company’s stock, valued at $47,756,878.10. The trade was a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 603,968 shares of company stock worth $99,863,550. 7.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Snowflake

A number of institutional investors have recently modified their holdings of the business. Wellington Management Group LLP increased its position in Snowflake by 1,325.2% during the 4th quarter. Wellington Management Group LLP now owns 108,527 shares of the company’s stock worth $16,758,000 after purchasing an additional 100,912 shares in the last quarter. 111 Capital bought a new stake in shares of Snowflake during the fourth quarter worth $578,000. NorthCrest Asset Manangement LLC increased its holdings in shares of Snowflake by 12.7% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 7,785 shares of the company’s stock worth $1,202,000 after buying an additional 875 shares in the last quarter. PKO Investment Management Joint Stock Co bought a new position in shares of Snowflake in the 4th quarter valued at $2,007,000. Finally, Centaurus Financial Inc. boosted its holdings in shares of Snowflake by 15.8% during the 4th quarter. Centaurus Financial Inc. now owns 8,291 shares of the company’s stock valued at $1,280,000 after acquiring an additional 1,132 shares in the last quarter. Institutional investors and hedge funds 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.