Loop Capital Issues Positive Forecast for Snowflake (NYSE:SNOW) Stock Price

Snowflake (NYSE:SNOW) had its price target lifted by Loop Capital from $185.00 to $205.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. Argus assumed coverage on Snowflake in a research note on Tuesday, October 1st. They issued a “hold” rating for the company. Piper Sandler reiterated an “overweight” rating and set a $185.00 target price on shares of Snowflake in a research report on Tuesday, December 17th. UBS Group decreased their price target on Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 price target on shares of Snowflake in a research note on Tuesday, November 19th. Finally, Jefferies Financial Group increased their price objective on shares of Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $185.03.

Snowflake Price Performance

Shares of Snowflake stock opened at $163.06 on Monday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $53.83 billion, a price-to-earnings ratio of -48.10 and a beta of 1.02. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72. The company has a 50-day simple moving average of $146.23 and a two-hundred day simple moving average of $131.25.

Insider Buying and Selling at Snowflake

In related news, Director Frank Slootman sold 45,896 shares of Snowflake stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the completion of the transaction, the director now owns 208,735 shares of the company’s stock, valued at $36,749,884.10. This trade represents a 18.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christian Kleinerman sold 861 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $165.31, for a total transaction of $142,331.91. Following the sale, the executive vice president now directly owns 582,930 shares in the company, valued at $96,364,158.30. This trade represents a 0.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 292,614 shares of company stock worth $48,389,953. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several large investors have recently added to or reduced their stakes in the business. State Street Corp boosted its stake in Snowflake by 0.8% during the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after acquiring an additional 54,909 shares in the last quarter. Geode Capital Management LLC boosted its stake in Snowflake by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after purchasing an additional 138,663 shares during the last quarter. Two Sigma Advisers LP grew its holdings in Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after buying an additional 881,700 shares in the last quarter. Ontario Teachers Pension Plan Board raised its holdings in shares of Snowflake by 19,399.2% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after purchasing an additional 2,559,144 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Snowflake by 11.5% in the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock valued at $293,838,000 after buying an additional 223,936 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

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.