Cantor Fitzgerald Begins Coverage on Snowflake (NYSE:SNOW)

Cantor Fitzgerald initiated coverage on shares of Snowflake (NYSE:SNOW) in a report released on Friday morning, MarketBeat Ratings reports. The firm issued an overweight rating and a $201.00 target price on the stock.

A number of other research analysts also recently issued reports on the company. Mizuho upped their price objective on Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Wedbush lowered shares of Snowflake from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Citigroup lowered their price objective on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. Monness Crespi & Hardt increased their target price on shares of Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Piper Sandler lifted their price target on shares of Snowflake from $185.00 to $208.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $188.06.

Snowflake Price Performance

Shares of NYSE SNOW opened at $170.89 on Friday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $56.41 billion, a PE ratio of -50.41 and a beta of 1.05. The stock’s 50 day moving average price is $160.11 and its 200-day moving average price is $134.83. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72.

Insiders Place Their Bets

In related news, Director Frank Slootman sold 1,712 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total value of $306,448.00. Following the sale, the director now directly owns 205,965 shares of the company’s stock, valued at $36,867,735. This trade represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the transaction, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at $85,354,801.35. The trade was a 2.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 376,904 shares of company stock valued at $62,545,855 in the last ninety days. Company insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Hedge funds have recently made changes to their positions in the business. Ontario Teachers Pension Plan Board boosted its holdings in Snowflake by 19,399.2% in 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 acquiring an additional 2,559,144 shares in the last quarter. Two Sigma Advisers LP boosted its stake in shares of Snowflake by 27.9% during the 3rd 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. AQR Capital Management LLC increased its position in shares of Snowflake by 210.0% during the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock valued at $131,656,000 after buying an additional 660,168 shares during the period. SG Americas Securities LLC raised its stake in Snowflake by 471.9% in the third quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock worth $87,489,000 after buying an additional 628,511 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in Snowflake by 12,318.3% in the third quarter. International Assets Investment Management LLC now owns 530,883 shares of the company’s stock worth $60,977,000 after buying an additional 526,608 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

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.