Snowflake (NYSE:SNOW) Given Buy Rating at Truist Financial

Truist Financial reissued their buy rating on shares of Snowflake (NYSE:SNOW) in a report issued on Thursday morning,Benzinga reports. They currently have a $225.00 target price on the stock, up from their prior target price of $210.00.

A number of other analysts also recently issued reports on SNOW. TD Cowen lifted their price objective on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Piper Sandler lifted their price objective on shares of Snowflake from $208.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday. Jefferies Financial Group lifted their price objective on shares of Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 21st. BTIG Research raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a report on Thursday, February 20th. Finally, Monness Crespi & Hardt lifted their price objective on shares of Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.92.

Snowflake Stock Up 1.8 %

SNOW opened at $176.76 on Thursday. Snowflake has a one year low of $107.13 and a one year high of $194.40. 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 firm has a market capitalization of $58.35 billion, a P/E ratio of -52.14 and a beta of 1.07. The company has a fifty day moving average price of $173.19 and a 200-day moving average price of $145.64.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred 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 transaction, the executive vice president now owns 552,930 shares of the company’s stock, valued at $103,121,445. The trade was a 2.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the completion of the transaction, the executive now directly owns 308,164 shares in the company, valued at approximately $56,045,786.68. The trade was a 3.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 312,193 shares of company stock valued at $52,833,048. Company insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Several large investors have recently bought and sold shares of SNOW. Allspring Global Investments Holdings LLC grew its position in Snowflake by 73.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 792 shares of the company’s stock worth $91,000 after purchasing an additional 335 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new stake in Snowflake during the 3rd quarter valued at approximately $231,000. Fortitude Family Office LLC acquired a new stake in Snowflake during the 3rd quarter valued at approximately $34,000. Ayalon Insurance Comp Ltd. lifted its stake in Snowflake by 30.1% during the 3rd quarter. Ayalon Insurance Comp Ltd. now owns 19,552 shares of the company’s stock valued at $2,246,000 after acquiring an additional 4,522 shares during the period. Finally, AM Investment Strategies LLC acquired a new stake in Snowflake during the 3rd quarter valued at approximately $233,000. Hedge funds and other institutional investors 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.