Snowflake’s (SNOW) Neutral Rating Reiterated at Guggenheim

Snowflake (NYSE:SNOW)‘s stock had its “neutral” rating reissued by research analysts at Guggenheim in a report issued on Thursday,Benzinga reports.

Other equities research analysts also recently issued reports about the stock. UBS Group lifted their price objective on shares of Snowflake from $155.00 to $190.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. BTIG Research upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research report on Thursday, February 20th. Loop Capital boosted their target price on shares of Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Wells Fargo & Company boosted their target price on shares of Snowflake from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, Cantor Fitzgerald started coverage on shares of Snowflake in a research report on Friday, January 17th. They set an “overweight” rating and a $201.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.35.

Snowflake Stock Performance

Shares of NYSE:SNOW traded up $16.31 on Thursday, hitting $182.50. 11,179,000 shares of the company were exchanged, compared to its average volume of 5,611,323. Snowflake has a 1-year low of $107.13 and a 1-year high of $233.88. The stock’s 50 day moving average price is $172.79 and its 200 day moving average price is $144.94. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $60.24 billion, a P/E ratio of -53.92 and a beta of 1.07.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’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 owns 552,930 shares of the company’s stock, valued at $103,121,445. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Emily Ho sold 1,508 shares of Snowflake stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total transaction of $246,060.36. Following the sale, the chief accounting officer now directly owns 44,760 shares of the company’s stock, valued at approximately $7,303,489.20. This trade represents a 3.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 371,810 shares of company stock worth $63,340,544. Insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Several institutional investors and hedge funds have recently modified their holdings of the business. Groupama Asset Managment acquired a new stake in shares of Snowflake in the third quarter worth $25,000. Stonebridge Financial Group LLC bought a new position in Snowflake during the 4th quarter valued at $29,000. West Paces Advisors Inc. bought a new position in Snowflake during the 4th quarter valued at $31,000. Spurstone Advisory Services LLC bought a new position in Snowflake during the 4th quarter valued at $31,000. Finally, Capital A Wealth Management LLC bought a new position in Snowflake during the 4th quarter valued at $31,000. 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.