Snowflake (NYSE:SNOW) Now Covered by Macquarie

Macquarie began coverage on shares of Snowflake (NYSE:SNOW) in a report released on Wednesday, MarketBeat.com reports. The brokerage issued a neutral rating and a $160.00 target price on the stock.

A number of other equities analysts also recently commented on SNOW. UBS Group lifted their price objective on shares of Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. Cantor Fitzgerald lifted their price target on shares of Snowflake from $201.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Citigroup increased their price objective on shares of Snowflake from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday. Stifel Nicolaus lifted their target price on Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, Wells Fargo & Company upped their target price on Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Ten investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.05.

Snowflake Trading Up 3.1 %

NYSE:SNOW opened at $154.23 on Wednesday. The company has a market cap of $50.91 billion, a PE ratio of -45.50 and a beta of 1.07. The business’s 50 day moving average is $170.55 and its two-hundred day moving average is $152.08. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake has a 52 week low of $107.13 and a 52 week high of $194.40.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 127,247 shares of Snowflake stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total value of $22,427,283.75. Following the transaction, the director now owns 195,281 shares of the company’s stock, valued at approximately $34,418,276.25. This trade represents a 39.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the sale, the chief financial officer now directly owns 292,610 shares of the company’s stock, valued at $47,756,878.10. This represents a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 491,186 shares of company stock valued at $82,353,709 over the last three months. Company insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Several large investors have recently added to or reduced their stakes in the company. Jennison Associates LLC raised its position in Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after buying an additional 3,662,671 shares during the period. State Street Corp increased its holdings in shares of Snowflake by 0.8% in the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after purchasing an additional 54,909 shares during the period. Norges Bank purchased a new stake in shares of Snowflake in the fourth quarter worth approximately $988,950,000. FMR LLC boosted its holdings in shares of Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after purchasing an additional 2,805,425 shares during the period. Finally, GQG Partners LLC purchased a new position in Snowflake during the fourth quarter valued at approximately $750,572,000. 65.10% of the stock is owned by institutional investors and hedge funds.

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.