Analysts Set Snowflake Inc. (NYSE:SNOW) Price Target at $171.59

Snowflake Inc. (NYSE:SNOW) has been given a consensus recommendation of “Moderate Buy” by the thirty-eight brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and twenty-six have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $180.23.

A number of research analysts recently weighed in on SNOW shares. Mizuho increased their price objective on shares of Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a research report on Thursday. Stifel Nicolaus reduced their price objective on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a research report on Monday, August 19th. Argus assumed coverage on Snowflake in a research report on Tuesday, October 1st. They issued a “hold” rating on the stock. StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $175.00 price objective on shares of Snowflake in a report on Thursday, August 22nd.

Insider Buying and Selling

In other news, insider Benoit Dageville sold 1,946 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $222,602.94. Following the transaction, the insider now directly owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. This trade represents a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frank Slootman sold 1,606 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of the sale, the director now owns 218,246 shares of the company’s stock, valued at $23,998,330.16. The trade was a 0.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 59,538 shares of company stock valued at $7,061,544. Insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

A number of hedge funds have recently added to or reduced their stakes in the business. ProShare Advisors LLC boosted its stake in shares of Snowflake by 26.1% during the first quarter. ProShare Advisors LLC now owns 1,424 shares of the company’s stock valued at $230,000 after purchasing an additional 295 shares in the last quarter. Covestor Ltd boosted its position in Snowflake by 25.0% during the 1st quarter. Covestor Ltd now owns 350 shares of the company’s stock valued at $57,000 after acquiring an additional 70 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Snowflake by 21.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 12,634 shares of the company’s stock valued at $2,042,000 after acquiring an additional 2,191 shares during the period. UniSuper Management Pty Ltd raised its position in shares of Snowflake by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 4,000 shares of the company’s stock worth $646,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Lake Street Advisors Group LLC bought a new stake in Snowflake during the first quarter valued at about $454,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Down 2.3 %

Shares of NYSE SNOW opened at $167.44 on Wednesday. The firm’s 50-day moving average price is $120.06 and its 200-day moving average price is $127.80. Snowflake has a 52-week low of $107.13 and a 52-week high of $237.72.

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.