Macquarie Begins Coverage on Snowflake (NYSE:SNOW)

Macquarie began coverage on shares of Snowflake (NYSE:SNOW) in a research note released on Wednesday morning, MarketBeat.com reports. The brokerage issued a neutral rating and a $160.00 price target on the stock.

Several other research analysts have also commented on SNOW. Monness Crespi & Hardt increased their price target on shares of Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Scotiabank upped their price objective on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. Mizuho raised their target price on Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Loop Capital upped their price target on Snowflake from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Truist Financial cut their price objective on Snowflake from $225.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday. Ten analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $203.05.

Snowflake Trading Up 3.1 %

Shares of NYSE SNOW opened at $154.23 on Wednesday. The business has a 50 day simple moving average of $170.55 and a 200 day simple moving average of $152.08. Snowflake has a 52 week low of $107.13 and a 52 week high of $194.40. The stock has a market cap of $50.91 billion, a price-to-earnings ratio of -45.50 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 685 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $100,859.40. Following the transaction, the executive vice president now directly owns 622,611 shares of the company’s stock, valued at $91,673,243.64. The trade was a 0.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Scarpelli sold 300,000 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the sale, the chief financial officer now directly owns 292,610 shares of the company’s stock, valued at $47,756,878.10. This represents a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 491,186 shares of company stock valued at $82,353,709. 7.80% of the stock is owned by insiders.

Institutional Trading of Snowflake

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Neville Rodie & Shaw Inc. grew its holdings in Snowflake by 30.5% during the 1st quarter. Neville Rodie & Shaw Inc. now owns 2,610 shares of the company’s stock worth $381,000 after acquiring an additional 610 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Snowflake by 77.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 337 shares of the company’s stock valued at $49,000 after purchasing an additional 147 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Snowflake by 1,325.2% during the fourth quarter. Wellington Management Group LLP now owns 108,527 shares of the company’s stock valued at $16,758,000 after purchasing an additional 100,912 shares during the last quarter. 111 Capital acquired a new stake in shares of Snowflake in the fourth quarter valued at approximately $578,000. Finally, NorthCrest Asset Manangement LLC raised its position in Snowflake by 12.7% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 7,785 shares of the company’s stock worth $1,202,000 after purchasing an additional 875 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.