Snowflake (NYSE:SNOW) Receives Buy Rating from Truist Financial

Truist Financial restated their buy rating on shares of Snowflake (NYSE:SNOW) in a report released on Thursday,Benzinga reports. Truist Financial currently has a $210.00 price target on the stock.

Several other equities research analysts also recently issued reports on SNOW. Morgan Stanley reiterated an “equal weight” rating and set a $175.00 price target on shares of Snowflake in a report on Thursday, August 22nd. Rosenblatt Securities reissued a “buy” rating and set a $180.00 price objective on shares of Snowflake in a report on Tuesday, November 19th. HSBC upgraded Snowflake from a “reduce” rating to a “hold” rating and increased their price objective for the stock from $119.00 to $121.00 in a research report on Friday, August 23rd. StockNews.com raised shares of Snowflake from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Monness Crespi & Hardt upped their target price on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $180.23.

Snowflake Trading Down 2.3 %

NYSE:SNOW opened at $167.44 on Thursday. The stock has a market capitalization of $56.13 billion, a price-to-earnings ratio of -49.39 and a beta of 0.83. Snowflake has a 12 month low of $107.13 and a 12 month high of $237.72. The firm has a fifty day simple moving average of $120.06 and a two-hundred day simple moving average of $127.80.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the sale, the executive vice president now owns 706,755 shares in the company, valued at approximately $85,354,801.35. This represents a 2.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Benoit Dageville sold 287 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total transaction of $31,974.67. Following the completion of the transaction, the insider now directly owns 53,250 shares in the company, valued at approximately $5,932,582.50. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,538 shares of company stock valued at $7,061,544. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC increased its holdings in Snowflake by 26.1% in the 1st quarter. ProShare Advisors LLC now owns 1,424 shares of the company’s stock valued at $230,000 after acquiring an additional 295 shares during the last quarter. Covestor Ltd raised its position in Snowflake by 25.0% in the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock worth $57,000 after purchasing an additional 70 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of Snowflake by 21.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 12,634 shares of the company’s stock worth $2,042,000 after acquiring an additional 2,191 shares during the last quarter. UniSuper Management Pty Ltd grew its stake in Snowflake by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 4,000 shares of the company’s stock worth $646,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Snowflake by 372.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 226,153 shares of the company’s stock valued at $36,546,000 after purchasing an additional 178,253 shares in the last quarter. 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.