Snowflake’s (SNOW) “Neutral” Rating Reiterated at Guggenheim

Guggenheim reiterated their neutral rating on shares of Snowflake (NYSE:SNOW) in a report issued on Thursday,Benzinga reports.

Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus boosted their price target on shares of Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Cantor Fitzgerald began coverage on shares of Snowflake in a research report on Friday, January 17th. They issued an “overweight” rating and a $201.00 price target for the company. Citigroup lifted their price objective on shares of Snowflake from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Finally, Wolfe Research raised shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 target price for the company in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $202.92.

Snowflake Price Performance

Shares of SNOW opened at $176.76 on Thursday. Snowflake has a 1-year low of $107.13 and a 1-year high of $194.40. The stock has a market cap of $58.35 billion, a PE ratio of -52.14 and a beta of 1.07. 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 fifty day moving average price of $173.19 and a 200 day moving average price of $145.64.

Insider Activity

In related news, CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $174.06, for a total transaction of $2,224,834.92. Following the sale, the executive now owns 323,731 shares in the company, valued at approximately $56,348,617.86. This trade represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 2,218 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $175.00, for a total transaction of $388,150.00. Following the sale, the director now owns 208,735 shares in the company, valued at approximately $36,528,625. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 312,193 shares of company stock worth $52,833,048 over the last ninety days. 7.80% of the stock is currently owned by insiders.

Institutional Trading of Snowflake

Hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank boosted its position in Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after acquiring an additional 7,239 shares during the last quarter. Prospect Financial Services LLC acquired a new stake in Snowflake during the fourth quarter worth approximately $288,000. Independent Advisor Alliance raised its stake in Snowflake by 15.5% during the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after purchasing an additional 548 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in Snowflake by 1.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock worth $104,028,000 after purchasing an additional 8,857 shares during the period. Finally, Bourgeon Capital Management LLC purchased a new position in Snowflake during the fourth quarter worth approximately $5,851,000. Institutional investors and hedge funds 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.