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

Shares of Snowflake Inc. (NYSE:SNOW) have received an average recommendation of “Moderate Buy” from the thirty-eight research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and twenty-eight have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $187.69.

A number of research analysts have recently commented on SNOW shares. StockNews.com downgraded shares of Snowflake from a “hold” rating to a “sell” rating in a research note on Thursday. Wells Fargo & Company raised shares of Snowflake from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $150.00 to $200.00 in a research report on Tuesday, January 7th. Wedbush downgraded shares of Snowflake from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Royal Bank of Canada boosted their price objective on shares of Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Truist Financial reaffirmed a “buy” rating and issued a $210.00 target price on shares of Snowflake in a research report on Thursday, November 21st.

Insider Buying and Selling at Snowflake

In other news, CRO Christopher William Degnan sold 76,692 shares of Snowflake stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $168.42, for a total value of $12,916,466.64. Following the completion of the transaction, the executive now directly owns 346,741 shares of the company’s stock, valued at approximately $58,398,119.22. The trade was a 18.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 558 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total transaction of $99,882.00. Following the sale, the executive vice president now owns 690,647 shares in the company, valued at approximately $123,625,813. This trade represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 376,904 shares of company stock worth $62,545,855 over the last quarter. 7.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently bought and sold shares of SNOW. Toronto Dominion Bank lifted its holdings in shares of Snowflake by 24.1% in the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after purchasing an additional 7,239 shares during the last quarter. Independent Advisor Alliance lifted its stake in Snowflake by 15.5% in the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after buying an additional 548 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Snowflake by 1.4% during the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after acquiring an additional 7,373 shares during the period. Diversified Trust Co boosted its holdings in shares of Snowflake by 174.8% during the fourth quarter. Diversified Trust Co now owns 4,906 shares of the company’s stock valued at $758,000 after acquiring an additional 3,121 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Snowflake by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,247,511 shares of the company’s stock worth $143,289,000 after acquiring an additional 36,704 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Stock Up 1.6 %

NYSE SNOW opened at $165.96 on Thursday. The business’s 50-day moving average price is $158.33 and its 200 day moving average price is $134.37. 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 twelve month low of $107.13 and a twelve month high of $237.72.

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.