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Guggenheim reiterated their neutral rating on shares of Snowflake (NYSE:SNOW – Free Report) in a research report released on Thursday,Benzinga reports.
Other analysts have also issued research reports about the company. JMP Securities reissued a “market outperform” rating and set a $260.00 price objective on shares of Snowflake in a report on Tuesday. Citigroup reiterated an “outperform” rating on shares of Snowflake in a research note on Thursday. Stifel Nicolaus boosted their price target on shares of Snowflake from $210.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, May 22nd. CICC Research initiated coverage on shares of Snowflake in a report on Friday, June 20th. They set an “outperform” rating and a $225.00 price objective for the company. Finally, KeyCorp lifted their target price on shares of Snowflake from $250.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $255.53.
View Our Latest Analysis on SNOW
Snowflake Stock Up 20.2%
SNOW stock opened at $240.84 on Thursday. Snowflake has a twelve month low of $107.13 and a twelve month high of $249.99. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The company has a market cap of $80.41 billion, a PE ratio of -58.03 and a beta of 1.22. The business’s 50-day simple moving average is $210.88 and its 200 day simple moving average is $185.53.
Insider Transactions at Snowflake
In other news, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $211.35, for a total value of $10,638,936.30. Following the completion of the transaction, the director owned 37,796 shares in the company, valued at approximately $7,988,184.60. The trade was a 57.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frank Slootman sold 424,852 shares of the stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $219.35, for a total value of $93,191,286.20. Following the sale, the director owned 165,507 shares in the company, valued at approximately $36,303,960.45. This trade represents a 71.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,516,826 shares of company stock worth $555,691,052. Company insiders own 6.80% of the company’s stock.
Hedge Funds Weigh In On Snowflake
A number of institutional investors and hedge funds have recently bought and sold shares of SNOW. Trust Co. of Toledo NA OH bought a new stake in shares of Snowflake during the second quarter worth $25,000. Avion Wealth raised its holdings in shares of Snowflake by 76.6% in the second quarter. Avion Wealth now owns 113 shares of the company’s stock valued at $25,000 after buying an additional 49 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in Snowflake during the 1st quarter worth about $26,000. CVA Family Office LLC grew its holdings in Snowflake by 80.0% during the 1st quarter. CVA Family Office LLC now owns 198 shares of the company’s stock worth $29,000 after acquiring an additional 88 shares during the last quarter. Finally, Rossby Financial LCC increased its position in Snowflake by 4,233.3% in the 2nd quarter. Rossby Financial LCC now owns 130 shares of the company’s stock valued at $29,000 after acquiring an additional 127 shares in the last quarter. Institutional investors and hedge funds 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.
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