Snowflake (NYSE:SNOW) Now Covered by Analysts at Daiwa Capital Markets

Daiwa Capital Markets initiated coverage on shares of Snowflake (NYSE:SNOW) in a report published on Tuesday, MarketBeat reports. The brokerage issued a buy rating and a $210.00 target price on the stock.

Several other analysts have also recently commented on the company. BTIG Research upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a research report on Thursday, February 20th. Barclays upped their target price on shares of Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Monness Crespi & Hardt raised 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. JMP Securities restated a “market outperform” rating and set a $190.00 price target on shares of Snowflake in a research report on Tuesday, December 3rd. Finally, Stifel Nicolaus increased their price objective on shares of Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Nine investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $204.14.

Snowflake Price Performance

NYSE:SNOW opened at $149.56 on Tuesday. The stock has a 50 day moving average of $171.02 and a two-hundred day moving average of $152.07. Snowflake has a 12 month low of $107.13 and a 12 month high of $194.40. The firm has a market cap of $49.37 billion, a P/E ratio of -44.12 and a beta of 1.07. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Activity

In related news, EVP Christian Kleinerman sold 685 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total transaction of $100,859.40. Following the sale, the executive vice president now directly owns 622,611 shares in the company, valued at approximately $91,673,243.64. This represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total transaction of $2,009,841.68. Following the completion of the transaction, the executive now owns 311,999 shares of the company’s stock, valued at $49,058,722.76. This represents a 3.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 503,968 shares of company stock worth $84,363,550. Corporate insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank increased its holdings in shares of Snowflake by 24.1% in the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after acquiring an additional 7,239 shares during the last quarter. Prospect Financial Services LLC purchased a new position in Snowflake in the fourth quarter valued at approximately $288,000. Sumitomo Mitsui Trust Group Inc. raised its holdings 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 in the last quarter. Bourgeon Capital Management LLC purchased a new stake in shares of Snowflake during the 4th quarter worth approximately $5,851,000. Finally, Stephens Consulting LLC boosted its holdings in shares of Snowflake by 7,407.4% in the 4th quarter. Stephens Consulting LLC now owns 2,027 shares of the company’s stock valued at $313,000 after buying an additional 2,000 shares in 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.