Snowflake (NYSE:SNOW) Upgraded by Cantor Fitzgerald to Strong-Buy Rating

Cantor Fitzgerald upgraded shares of Snowflake (NYSE:SNOW) to a strong-buy rating in a research note released on Thursday morning, MarketBeat reports. Cantor Fitzgerald currently has $201.00 price objective on the stock.

SNOW has been the topic of several other research reports. JMP Securities reiterated a “market outperform” rating and issued a $190.00 price target on shares of Snowflake in a research note on Tuesday, December 3rd. Monness Crespi & Hardt upped their target price on Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Bank of America lifted their price target on shares of Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. KeyCorp increased their price objective on shares of Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Oppenheimer raised their price objective on shares of Snowflake from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.06.

Snowflake Stock Performance

Shares of SNOW stock opened at $170.89 on Thursday. 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 company’s fifty day moving average price is $160.11 and its two-hundred day moving average price is $134.83. The firm has a market capitalization of $56.41 billion, a P/E ratio of -50.41 and a beta of 1.05. Snowflake has a 12 month low of $107.13 and a 12 month high of $237.72.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total transaction of $99,882.00. Following the transaction, the executive vice president now owns 690,647 shares in the company, valued at $123,625,813. This trade represents a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Slootman sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $155.00, for a total value of $15,500,000.00. Following the sale, the director now directly owns 195,281 shares in the company, valued at approximately $30,268,555. The trade was a 33.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 376,904 shares of company stock worth $62,545,855 over the last ninety days. 7.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SNOW. Groupama Asset Managment bought a new position in shares of Snowflake during the 3rd quarter valued at about $25,000. V Square Quantitative Management LLC bought a new stake in shares of Snowflake in the 3rd quarter worth approximately $30,000. Fortitude Family Office LLC acquired a new stake in Snowflake during the third quarter valued at approximately $34,000. Perkins Coie Trust Co boosted its holdings in Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after buying an additional 139 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in Snowflake by 81.3% in the third quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock worth $39,000 after buying an additional 152 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

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.