Cantor Fitzgerald Initiates Coverage on Snowflake (NYSE:SNOW)

Equities researchers at Cantor Fitzgerald started coverage on shares of Snowflake (NYSE:SNOW - Get Free Report) in a research report issued on Friday, MarketBeat reports. The brokerage set an "overweight" rating and a $201.00 price target on the stock. Cantor Fitzgerald's price target indicates a potential upside of 17.28% from the company's current price.

Several other equities research analysts have also weighed in on the company. Argus started coverage on Snowflake in a report on Tuesday, October 1st. They issued a "hold" rating for the company. DA Davidson restated a "buy" rating and set a $175.00 price target on shares of Snowflake in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft increased their price objective on Snowflake from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, November 21st. KeyCorp upped their price target on Snowflake from $185.00 to $210.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Finally, Scotiabank raised their price objective on shares of Snowflake from $170.00 to $220.00 and gave the company a "sector outperform" rating in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-nine have issued a buy rating to the company. Based on data from MarketBeat, Snowflake presently has a consensus rating of "Moderate Buy" and a consensus price target of $188.06.

Snowflake Stock Performance

NYSE SNOW traded up $3.74 on Friday, hitting $171.38. 3,177,066 shares of the stock traded hands, compared to its average volume of 4,914,908. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The business's fifty day moving average is $160.11 and its two-hundred day moving average is $134.83. Snowflake has a 12 month low of $107.13 and a 12 month high of $237.72. The firm has a market capitalization of $56.57 billion, a price-to-earnings ratio of -50.56 and a beta of 1.05.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total value of $2,700,000.00. Following the completion of the sale, the executive vice president now directly owns 691,755 shares of the company's stock, valued at approximately $124,515,900. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frank Slootman sold 45,896 shares of the business's stock in a transaction dated 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 transaction, the director now owns 208,735 shares in the company, valued at $36,749,884.10. This represents a 18.02 % 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 Trading of Snowflake

Several large investors have recently bought and sold shares of the company. State Street Corp lifted its stake 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. Geode Capital Management LLC grew its position in shares of Snowflake by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company's stock worth $475,894,000 after buying an additional 138,663 shares during the period. Two Sigma Advisers LP grew its position in shares of Snowflake by 27.9% in the 3rd 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 during the period. Ontario Teachers Pension Plan Board grew its position in shares of Snowflake by 19,399.2% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company's stock worth $295,459,000 after buying an additional 2,559,144 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Snowflake by 11.5% in the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company's stock worth $293,838,000 after acquiring an additional 223,936 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

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.