Cantor Fitzgerald Begins Coverage on Snowflake (NYSE:SNOW)

Equities researchers at Cantor Fitzgerald began coverage on shares of Snowflake (NYSE:SNOW) in a research report issued on Friday,Briefing.com Automated Import reports. The brokerage set an “overweight” rating and a $201.00 price target on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 19.71% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. DA Davidson reiterated a “buy” rating and issued a $175.00 target price on shares of Snowflake in a report on Thursday, October 3rd. Jefferies Financial Group increased their target price on shares of Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Oppenheimer lifted their price target on shares of Snowflake from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday. Citigroup reduced their price objective on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. Finally, Needham & Company LLC raised their price objective on shares of Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-nine have given a buy rating to the company. Based on data from MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $188.06.

Snowflake Trading Up 1.3 %

SNOW opened at $167.90 on Friday. The stock has a 50-day moving average of $160.11 and a 200 day moving average of $134.83. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake has a 12 month low of $107.13 and a 12 month high of $237.72. The firm has a market cap of $55.43 billion, a P/E ratio of -49.53 and a beta of 1.05.

Insider Buying and Selling

In other Snowflake news, Director Frank Slootman sold 100,000 shares of Snowflake stock in a transaction on Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the transaction, the director now directly owns 195,281 shares of the company’s stock, valued at approximately $30,268,555. The trade was a 33.87 % decrease in their ownership of the stock. 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 stock in a transaction 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 sale, the executive vice president now owns 690,647 shares of the company’s stock, valued at approximately $123,625,813. This represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 376,904 shares of company stock worth $62,545,855 in the last three months. 7.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNOW. Breakwater Capital Group boosted its holdings in Snowflake by 2.2% in the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after acquiring an additional 62 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Snowflake by 31.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock worth $59,000 after purchasing an additional 90 shares in the last quarter. Modus Advisors LLC boosted its stake in Snowflake by 3.9% in the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after purchasing an additional 94 shares in the last quarter. Catalyst Private Wealth LLC grew its position in Snowflake by 3.2% during the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after purchasing an additional 104 shares during the last quarter. Finally, Clear Creek Financial Management LLC increased its stake in Snowflake by 6.7% during the 3rd quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company’s stock valued at $210,000 after purchasing an additional 115 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other 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.