Snowflake (NYSE:SNOW) Given Market Outperform Rating at JMP Securities

Snowflake (NYSE:SNOW)‘s stock had its “market outperform” rating reiterated by JMP Securities in a research report issued on Tuesday,Benzinga reports. They currently have a $201.00 price objective on the stock. JMP Securities’ target price would indicate a potential upside of 10.33% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Rosenblatt Securities restated a “buy” rating and issued a $205.00 price target on shares of Snowflake in a report on Monday. KeyCorp decreased their price objective on shares of Snowflake from $220.00 to $192.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. UBS Group increased their price objective on shares of Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Daiwa America upgraded shares of Snowflake to a “strong-buy” rating in a report on Tuesday, April 1st. Finally, Daiwa Capital Markets initiated coverage on shares of Snowflake in a research note on Tuesday, April 1st. They set a “buy” rating and a $210.00 price objective on the stock. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $201.00.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $182.19 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake has a 1-year low of $107.13 and a 1-year high of $194.40. The company has a market capitalization of $60.14 billion, a P/E ratio of -53.60 and a beta of 1.11. The firm’s 50 day simple moving average is $156.24 and its two-hundred day simple moving average is $162.11.

Insider Activity at Snowflake

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $168.01, for a total transaction of $67,708.03. Following the transaction, the director now directly owns 25,972 shares in the company, valued at $4,363,555.72. This represents a 1.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the completion of the sale, the executive vice president now directly owns 594,975 shares in the company, valued at approximately $102,186,956.25. This trade represents a 2.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 356,963 shares of company stock valued at $58,204,058 in the last ninety days. Insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ilmarinen Mutual Pension Insurance Co grew its position in Snowflake by 220.0% in the first quarter. Ilmarinen Mutual Pension Insurance Co now owns 48,000 shares of the company’s stock worth $7,016,000 after acquiring an additional 33,000 shares in the last quarter. Bayforest Capital Ltd acquired a new position in shares of Snowflake in the 1st quarter valued at $387,000. Zurich Insurance Group Ltd FI bought a new stake in shares of Snowflake in the 1st quarter worth about $41,355,000. Meiji Yasuda Life Insurance Co grew its holdings in shares of Snowflake by 10.2% in the 1st quarter. Meiji Yasuda Life Insurance Co now owns 8,774 shares of the company’s stock worth $1,282,000 after purchasing an additional 809 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its holdings in Snowflake by 7.7% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,361 shares of the company’s stock worth $930,000 after acquiring an additional 456 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.