Snowflake (NYSE:SNOW) Research Coverage Started at Macquarie

Macquarie initiated coverage on shares of Snowflake (NYSE:SNOW) in a research report released on Wednesday morning, Marketbeat.com reports. The firm issued a neutral rating and a $160.00 price objective on the stock.

A number of other research analysts have also commented on the stock. Scotiabank raised their price objective on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. Wedbush set a $210.00 price target on Snowflake in a research report on Wednesday, January 22nd. Truist Financial cut their price objective on Snowflake from $225.00 to $210.00 and set a “buy” rating for the company in a report on Monday, March 31st. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Finally, KeyCorp upped their price target on shares of Snowflake from $210.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Ten equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and an average price target of $203.05.

Snowflake Stock Down 6.8 %

Snowflake stock opened at $130.41 on Wednesday. Snowflake has a 52 week low of $107.13 and a 52 week high of $194.40. The stock has a market cap of $43.05 billion, a price-to-earnings ratio of -38.47 and a beta of 1.13. The company’s 50-day moving average price is $168.97 and its two-hundred day moving average price is $152.12. 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 Activity at Snowflake

In other news, CFO Michael Scarpelli sold 300,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at approximately $47,756,878.10. The trade was a 50.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the sale, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 491,186 shares of company stock valued at $82,353,709. Insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Several large investors have recently made changes to their positions in SNOW. Asset Dedication LLC boosted its holdings in Snowflake by 6.8% in the 4th quarter. Asset Dedication LLC now owns 922 shares of the company’s stock valued at $142,000 after purchasing an additional 59 shares during the period. Quarry LP lifted its stake in shares of Snowflake by 9.8% in the fourth quarter. Quarry LP now owns 662 shares of the company’s stock valued at $102,000 after buying an additional 59 shares during the period. Breakwater Capital Group grew its position in Snowflake by 2.2% during the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after buying an additional 62 shares in the last quarter. Gabelli Funds LLC grew its position in Snowflake by 3.3% during the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock worth $317,000 after buying an additional 65 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake 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 valued at $2,077,000 after acquiring an additional 69 shares during the period. 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.