Snowflake’s (SNOW) “Neutral” Rating Reaffirmed at Guggenheim

Guggenheim reiterated their neutral rating on shares of Snowflake (NYSE:SNOW) in a report released on Thursday,Benzinga reports.

Several other equities analysts have also issued reports on the company. Truist Financial reiterated a “buy” rating and issued a $225.00 price objective (up from $210.00) on shares of Snowflake in a research report on Thursday. TD Cowen upped their price target on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Jefferies Financial Group increased their price objective on shares of Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Needham & Company LLC boosted their price objective on shares of Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday. Finally, KeyCorp increased their target price on Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.92.

Snowflake Stock Up 4.6 %

NYSE:SNOW opened at $173.78 on Thursday. Snowflake has a 1 year low of $107.13 and a 1 year high of $233.88. The stock has a 50-day moving average price of $172.98 and a two-hundred day moving average price of $145.14. The stock has a market cap of $57.36 billion, a price-to-earnings ratio of -51.26 and a beta of 1.07. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Buying and Selling

In other Snowflake news, Director Frank Slootman sold 2,218 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $175.00, for a total transaction of $388,150.00. Following the completion of the sale, the director now directly owns 208,735 shares in the company, valued at $36,528,625. This trade represents a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $174.06, for a total value of $2,224,834.92. Following the completion of the transaction, the executive now directly owns 323,731 shares in the company, valued at $56,348,617.86. The trade was a 3.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 312,193 shares of company stock valued at $52,833,048. Company insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently modified their holdings of SNOW. Asset Dedication LLC increased its position in Snowflake by 6.8% during the fourth quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after acquiring an additional 59 shares during the period. Quarry LP grew its position in shares of Snowflake by 9.8% during the 4th quarter. Quarry LP now owns 662 shares of the company’s stock worth $102,000 after purchasing an additional 59 shares in the last quarter. Breakwater Capital Group raised its position in shares of Snowflake by 2.2% in the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock valued at $454,000 after buying an additional 62 shares in the last quarter. Gabelli Funds LLC boosted its stake in shares of Snowflake by 3.3% in the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock valued at $317,000 after buying an additional 65 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich grew its position in Snowflake by 0.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock worth $2,077,000 after buying an additional 69 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

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.