Loop Capital Issues Positive Forecast for Snowflake (NYSE:SNOW) Stock Price

Snowflake (NYSE:SNOW) had its price target lifted by Loop Capital from $185.00 to $205.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently commented on the company. Truist Financial restated a “buy” rating and issued a $210.00 price objective on shares of Snowflake in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft boosted their price target on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. JMP Securities reaffirmed a “market outperform” rating and set a $190.00 price objective on shares of Snowflake in a report on Tuesday, December 3rd. UBS Group reduced their price objective on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Finally, DA Davidson restated a “buy” rating and set a $175.00 target price on shares of Snowflake in a research report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $185.03.

Snowflake Trading Down 2.9 %

NYSE:SNOW opened at $161.44 on Monday. Snowflake has a one year low of $107.13 and a one year high of $237.72. The business has a fifty day moving average price of $143.77 and a 200-day moving average price of $130.59. The firm has a market capitalization of $53.29 billion, a price-to-earnings ratio of -47.62 and a beta of 1.03. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Insider Activity

In other Snowflake news, Director Frank Slootman sold 45,896 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the sale, the director now owns 208,735 shares in the company, valued at approximately $36,749,884.10. The trade was a 18.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total value of $99,882.00. Following the completion of the sale, the executive vice president now owns 690,647 shares in the company, valued at approximately $123,625,813. This represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 292,614 shares of company stock worth $48,389,953. Insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Institutional investors have recently modified their holdings of the stock. Ontario Teachers Pension Plan Board boosted its holdings in Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after buying an additional 2,559,144 shares in the last quarter. Two Sigma Advisers LP boosted its position in Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after purchasing an additional 881,700 shares in the last quarter. AQR Capital Management LLC grew its holdings in Snowflake by 210.0% in the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock valued at $131,656,000 after purchasing an additional 660,168 shares during the period. SG Americas Securities LLC increased its position in shares of Snowflake by 471.9% in the third quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock valued at $87,489,000 after buying an additional 628,511 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of Snowflake by 90.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock worth $170,938,000 after buying an additional 600,469 shares during the period. Hedge funds and other 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.