Brokerages Set Snowflake Inc. (NYSE:SNOW) Target Price at $183.89

Shares of Snowflake Inc. (NYSE:SNOW) have been given an average recommendation of “Moderate Buy” by the thirty-eight analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $184.46.

A number of equities analysts have recently issued reports on the stock. Argus assumed coverage on shares of Snowflake in a research note on Tuesday, October 1st. They issued a “hold” rating for the company. Royal Bank of Canada raised their price target on shares of Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. DA Davidson reiterated a “buy” rating and issued a $175.00 price objective on shares of Snowflake in a research note on Thursday, October 3rd. Hsbc Global Res upgraded Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. Finally, KeyCorp upped their price target on Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $164.21 on Friday. The firm has a market capitalization of $54.21 billion, a price-to-earnings ratio of -48.44 and a beta of 1.03. Snowflake has a one year low of $107.13 and a one year high of $237.72. The business has a fifty day simple moving average of $142.93 and a 200 day simple moving average of $130.46. 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 Snowflake news, CRO Christopher William Degnan sold 76,692 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $168.42, for a total value of $12,916,466.64. Following the completion of the sale, the executive now owns 346,741 shares of the company’s stock, valued at approximately $58,398,119.22. This represents a 18.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the transaction, the executive vice president now directly owns 691,755 shares in the company, valued at approximately $124,515,900. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 292,901 shares of company stock worth $48,375,520. 7.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Snowflake

Large investors have recently modified their holdings of the business. LRI Investments LLC raised its holdings in Snowflake by 155.6% during the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after buying an additional 112 shares during the period. Groupama Asset Managment bought a new stake in Snowflake in the 3rd quarter valued at $25,000. Wellington Shields Capital Management LLC acquired a new position in Snowflake in the 2nd quarter worth $27,000. V Square Quantitative Management LLC bought a new position in Snowflake during the 3rd quarter worth about $30,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Snowflake in the 3rd quarter valued at about $34,000. 65.10% of the stock is currently owned by institutional investors.

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.