Snowflake Inc. (NYSE:SNOW) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Snowflake Inc. (NYSE:SNOW) have received an average rating of “Moderate Buy” from the thirty-eight brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-seven have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $181.09.

Several research analysts have commented on the company. Morgan Stanley reissued an “equal weight” rating and set a $175.00 target price on shares of Snowflake in a research note on Thursday, August 22nd. Stifel Nicolaus lowered their target price on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Wedbush raised Snowflake from a “neutral” rating to an “outperform” rating and set a $190.00 target price for the company in a research note on Monday. Mizuho boosted their target price on Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Loop Capital lowered their target price on Snowflake from $225.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st.

Insider Buying and Selling at Snowflake

In other news, CRO Christopher William Degnan sold 76,692 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the completion of the sale, the executive now directly owns 346,741 shares of the company’s stock, valued at $58,398,119.22. This trade represents a 18.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frank Slootman sold 1,606 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the sale, the director now directly owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. This represents a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 182,126 shares of company stock worth $28,058,461. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Large investors have recently made changes to their positions in the business. LRI Investments LLC increased its position in shares of Snowflake by 155.6% during the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 112 shares during the last quarter. Groupama Asset Managment purchased a new stake in Snowflake in the 3rd quarter worth about $25,000. Wellington Shields Capital Management LLC purchased a new stake in Snowflake in the 2nd quarter worth about $27,000. V Square Quantitative Management LLC purchased a new stake in Snowflake in the 3rd quarter worth about $30,000. Finally, Fortitude Family Office LLC purchased a new stake in Snowflake in the 3rd quarter worth about $34,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Down 0.1 %

SNOW opened at $171.19 on Wednesday. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72. The company has a 50-day simple moving average of $122.43 and a 200 day simple moving average of $128.01.

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.