Snowflake (NYSE:SNOW) Given “Overweight” Rating at Piper Sandler

Snowflake (NYSE:SNOW)‘s stock had its “overweight” rating reissued by stock analysts at Piper Sandler in a research note issued on Tuesday,Benzinga reports. They currently have a $185.00 price objective on the stock. Piper Sandler’s price target would suggest a potential upside of 13.78% from the stock’s previous close.

A number of other equities analysts have also recently commented on SNOW. Loop Capital cut their target price on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Citigroup dropped their price target on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a research report on Monday, November 18th. Canaccord Genuity Group reduced their price target on Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Bank of America lifted their price target on Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Finally, Evercore ISI increased their target price on Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus target price of $184.46.

Snowflake Stock Performance

NYSE:SNOW opened at $162.59 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market capitalization of $53.67 billion, a price-to-earnings ratio of -47.96 and a beta of 1.03. The company’s 50-day moving average is $142.12 and its two-hundred day moving average is $130.22. Snowflake has a 1-year low of $107.13 and a 1-year high of $237.72.

Insider Activity at Snowflake

In other news, insider Benoit Dageville sold 287 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total transaction of $31,974.67. Following the completion of the transaction, the insider now directly owns 53,250 shares in the company, valued at approximately $5,932,582.50. This represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 3,029 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $171.00, for a total transaction of $517,959.00. Following the sale, the executive vice president now owns 684,639 shares of the company’s stock, valued at approximately $117,073,269. This trade represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 292,901 shares of company stock valued at $48,375,520 over the last quarter. 7.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snowflake

Several large investors have recently modified their holdings of the business. Modus Advisors LLC lifted its holdings in shares of Snowflake by 3.9% in the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after acquiring an additional 94 shares during the last quarter. Catalyst Private Wealth LLC raised its position in shares of Snowflake by 3.2% in the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after purchasing an additional 104 shares during the last quarter. LRI Investments LLC increased its holdings in shares of Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 112 shares in the last quarter. Clear Creek Financial Management LLC grew its position in Snowflake by 6.7% in the 3rd quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company’s stock worth $210,000 after purchasing an additional 115 shares during the period. Finally, Covestor Ltd raised its position in Snowflake by 16.2% in the third quarter. Covestor Ltd now owns 827 shares of the company’s stock worth $95,000 after acquiring an additional 115 shares during the period. Hedge funds and other 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.