Macquarie Begins Coverage on Snowflake (NYSE:SNOW)

Equities research analysts at Macquarie assumed coverage on shares of Snowflake (NYSE:SNOW) in a report released on Wednesday,Benzinga reports. The firm set a “neutral” rating and a $160.00 price target on the stock. Macquarie’s price target would suggest a potential upside of 6.98% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Loop Capital raised their price objective on Snowflake from $205.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Truist Financial decreased their price target on Snowflake from $225.00 to $210.00 and set a “buy” rating for the company in a research note on Monday. Mizuho upped their price objective on Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a report on Friday, February 28th. 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. Ten analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $203.05.

Snowflake Stock Up 2.3 %

Snowflake stock opened at $149.56 on Wednesday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake has a 1-year low of $107.13 and a 1-year high of $194.40. The company has a fifty day simple moving average of $171.02 and a 200 day simple moving average of $152.07. The company has a market cap of $49.37 billion, a P/E ratio of -44.12 and a beta of 1.07.

Insider Activity

In other Snowflake news, Director Frank Slootman sold 127,247 shares of the stock in a transaction dated 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 sale, the director now directly owns 195,281 shares in the company, valued at $34,418,276.25. This represents a 39.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael Scarpelli sold 300,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the transaction, 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. Over the last ninety days, insiders sold 503,968 shares of company stock worth $84,363,550. Corporate insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Large investors have recently made changes to their positions in the company. Groupama Asset Managment bought a new stake in Snowflake during the third quarter worth $25,000. Stonebridge Financial Group LLC acquired a new position in shares of Snowflake during the 4th quarter worth $29,000. West Paces Advisors Inc. bought a new stake in shares of Snowflake during the 4th quarter worth $31,000. Spurstone Advisory Services LLC acquired a new stake in Snowflake in the fourth quarter valued at about $31,000. Finally, Capital A Wealth Management LLC bought a new position in Snowflake in the fourth quarter valued at about $31,000. Institutional investors and hedge funds 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.