Guggenheim Reaffirms “Neutral” Rating for Snowflake (NYSE:SNOW)

Snowflake (NYSE:SNOW)‘s stock had its “neutral” rating reaffirmed by Guggenheim in a research note issued to investors on Thursday,Benzinga reports.

SNOW has been the subject of a number of other reports. Citigroup lifted their price objective on Snowflake from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday. Piper Sandler boosted their price target on shares of Snowflake from $208.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday. Royal Bank of Canada increased their price objective on shares of Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. JMP Securities reaffirmed a “market outperform” rating and set a $190.00 target price on shares of Snowflake in a report on Tuesday, December 3rd. Finally, TD Cowen increased their price target on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $202.92.

Snowflake Stock Up 1.8 %

Shares of SNOW opened at $176.76 on Thursday. The business’s fifty day moving average price is $173.19 and its two-hundred day moving average price is $145.51. The firm has a market capitalization of $58.35 billion, a price-to-earnings ratio of -52.14 and a beta of 1.07. Snowflake has a 52 week low of $107.13 and a 52 week high of $194.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the sale, the executive vice president now owns 552,930 shares in the company, valued at $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frank Slootman sold 2,218 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $175.00, for a total transaction of $388,150.00. Following the transaction, the director now owns 208,735 shares in the company, valued at $36,528,625. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 312,193 shares of company stock worth $52,833,048 over the last ninety days. 7.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Snowflake

Several institutional investors and hedge funds have recently bought and sold shares of the business. Asset Dedication LLC increased its holdings in shares of Snowflake by 6.8% during the 4th quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after acquiring an additional 59 shares during the last quarter. Quarry LP increased its holdings 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 purchasing an additional 59 shares during 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 purchasing an additional 62 shares during the period. Gabelli Funds LLC lifted its stake in shares of Snowflake by 3.3% during the 4th quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock worth $317,000 after buying an additional 65 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Snowflake by 0.6% during the 4th 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 during the period. 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.