Snowflake Inc. (NYSE:SNOW) Given Average Rating of “Moderate Buy” by Analysts

Shares of Snowflake Inc. (NYSE:SNOW) have been assigned a consensus rating of “Moderate Buy” from the thirty-eight brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $181.09.

Several brokerages have commented on SNOW. KeyCorp raised their target price on Snowflake from $150.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. UBS Group cut their target price on Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Citigroup cut their target price on Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a research note on Monday, November 18th. Hsbc Global Res upgraded Snowflake from a “moderate sell” rating to a “hold” rating in a research note on Friday, August 23rd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $180.00 target price on shares of Snowflake in a research note on Tuesday, November 19th.

Snowflake Price Performance

Shares of SNOW opened at $171.19 on Wednesday. The business has a 50-day moving average of $122.43 and a 200 day moving average of $128.01. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 558 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the transaction, the executive vice president now directly owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. The trade was a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Slootman sold 45,896 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $176.06, for a total value of $8,080,449.76. Following the completion of the sale, the director now directly owns 208,735 shares in the company, valued at approximately $36,749,884.10. The trade was a 18.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 182,126 shares of company stock valued at $28,058,461 in the last ninety days. Company insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNOW. State Street Corp boosted its holdings in Snowflake by 0.8% in the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after acquiring an additional 54,909 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Snowflake by 3.5% in the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock worth $475,894,000 after acquiring an additional 138,663 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after purchasing an additional 881,700 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its holdings in shares of Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after purchasing an additional 2,559,144 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Snowflake by 11.5% during the second quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock valued at $293,838,000 after purchasing an additional 223,936 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

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.