Snowflake (NYSE:SNOW) Given Market Outperform Rating at JMP Securities

Snowflake (NYSE:SNOW)‘s stock had its “market outperform” rating reissued by JMP Securities in a research report issued on Tuesday,Benzinga reports. They presently have a $190.00 price objective on the stock. JMP Securities’ price target indicates a potential upside of 10.79% from the company’s previous close.

A number of other research analysts also recently issued reports on SNOW. Loop Capital cut their target price on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Wedbush raised shares of Snowflake from a “neutral” rating to an “outperform” rating and set a $190.00 target price for the company in a report on Monday, November 25th. Mizuho raised their price target on Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Canaccord Genuity Group dropped their price objective on Snowflake from $215.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Finally, Monness Crespi & Hardt raised their target price on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $181.09.

Snowflake Stock Performance

SNOW traded down $0.93 during mid-day trading on Tuesday, reaching $171.49. The stock had a trading volume of 606,333 shares, compared to its average volume of 6,776,108. The stock has a market capitalization of $57.48 billion, a P/E ratio of -50.62 and a beta of 1.02. Snowflake has a 52 week low of $107.13 and a 52 week high of $237.72. The firm’s fifty day simple moving average is $126.17 and its two-hundred day simple moving average is $128.27.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 59,617 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $176.25, for a total transaction of $10,507,496.25. Following the completion of the transaction, the director now owns 208,735 shares of the company’s stock, valued at approximately $36,789,543.75. The trade was a 22.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Christopher William Degnan sold 76,692 shares of the firm’s stock in a transaction dated 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 directly owns 346,741 shares in the company, valued at $58,398,119.22. This trade represents a 18.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 264,278 shares of company stock valued at $42,512,248 in the last quarter. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

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