Loop Capital Issues Positive Forecast for Snowflake (NYSE:SNOW) Stock Price

Snowflake (NYSE:SNOW) had its price objective raised by Loop Capital from $205.00 to $215.00 in a report published on Thursday,Benzinga reports. Loop Capital currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Oppenheimer raised their price target on Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday. Cantor Fitzgerald raised their target price on shares of Snowflake from $201.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday. Royal Bank of Canada boosted their price target on shares of Snowflake from $210.00 to $221.00 and gave the stock an “outperform” rating in a research note on Thursday. Bank of America raised their target price on Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Finally, StockNews.com raised shares of Snowflake from a “sell” rating to a “hold” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $202.92.

Snowflake Stock Up 4.6 %

Shares of SNOW opened at $173.78 on Thursday. The business’s fifty day moving average price is $172.98 and its two-hundred day moving average price is $145.14. The firm has a market capitalization of $57.36 billion, a price-to-earnings ratio of -51.26 and a beta of 1.07. Snowflake has a 52 week low of $107.13 and a 52 week high of $233.88. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Insiders Place Their Bets

In other news, Director Frank Slootman sold 100,000 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the sale, the director now directly owns 195,281 shares in the company, valued at approximately $30,268,555. The trade was a 33.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the transaction, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at $103,121,445. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 312,193 shares of company stock valued at $52,833,048 in the last 90 days. Corporate insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Several large investors have recently modified their holdings of the business. Asset Dedication LLC grew its stake in shares of Snowflake by 6.8% in the fourth quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after purchasing an additional 59 shares during the last quarter. Quarry LP lifted its holdings in Snowflake by 9.8% during the 4th quarter. Quarry LP now owns 662 shares of the company’s stock worth $102,000 after buying an additional 59 shares during the period. Breakwater Capital Group lifted its holdings in Snowflake by 2.2% during the 4th quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after buying an additional 62 shares during the period. Gabelli Funds LLC grew its position in shares of Snowflake by 3.3% in the 4th quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock valued at $317,000 after buying an additional 65 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Snowflake by 0.6% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock valued at $2,077,000 after buying an additional 69 shares during the period. 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.