Snowflake (NYSE:SNOW) Given Buy Rating at Truist Financial

Snowflake (NYSE:SNOW)‘s stock had its “buy” rating reiterated by stock analysts at Truist Financial in a note issued to investors on Thursday,Benzinga reports. They presently have a $225.00 price target on the stock, up from their previous price target of $210.00. Truist Financial’s price objective suggests a potential upside of 25.86% from the stock’s current price.

SNOW has been the subject of a number of other reports. TD Cowen boosted their target price on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Mizuho boosted their price objective on Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Citigroup increased their target price on Snowflake from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday. Rosenblatt Securities boosted their price target on shares of Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $199.22.

Snowflake Trading Up 7.6 %

SNOW opened at $178.78 on Thursday. The company has a fifty day moving average price of $172.79 and a two-hundred day moving average price of $144.94. Snowflake has a 1-year low of $107.13 and a 1-year high of $233.88. The company has a market cap of $59.01 billion, a P/E ratio of -52.80 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.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the sale, the executive vice president now owns 552,930 shares of the company’s stock, valued at $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.87, for a total value of $2,324,662.34. Following the transaction, the executive now owns 308,164 shares in the company, valued at $56,045,786.68. This trade represents a 3.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 371,810 shares of company stock valued at $63,340,544 in the last quarter. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its holdings in shares of Snowflake by 73.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 792 shares of the company’s stock valued at $91,000 after purchasing an additional 335 shares during the last quarter. J.W. Cole Advisors Inc. purchased a new stake in Snowflake during the third quarter valued at about $231,000. Fortitude Family Office LLC purchased a new stake in Snowflake during the third quarter valued at about $34,000. Ayalon Insurance Comp Ltd. grew its stake in shares of Snowflake by 30.1% during the third quarter. Ayalon Insurance Comp Ltd. now owns 19,552 shares of the company’s stock valued at $2,246,000 after buying an additional 4,522 shares during the last quarter. Finally, AM Investment Strategies LLC purchased a new position in shares of Snowflake in the third quarter worth about $233,000. 65.10% of the stock is currently owned by institutional investors.

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.