StockNews.com Upgrades Snowflake (NYSE:SNOW) to Hold

StockNews.com upgraded shares of Snowflake (NYSE:SNOW) from a sell rating to a hold rating in a report published on Wednesday.

Several other equities analysts have also recently weighed in on the company. KeyCorp raised their price target on Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Monness Crespi & Hardt raised their target price on shares of Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Citigroup reduced their price target 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. Bank of America increased their price objective on shares of Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Finally, Mizuho boosted their target price on shares of Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $187.11.

Snowflake Stock Up 1.5 %

SNOW opened at $161.16 on Wednesday. Snowflake has a 52 week low of $107.13 and a 52 week high of $237.72. 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 firm has a 50-day simple moving average of $154.55 and a two-hundred day simple moving average of $133.42. The company has a market capitalization of $53.20 billion, a PE ratio of -47.54 and a beta of 1.05.

Insider Activity at Snowflake

In other news, 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 value of $8,080,449.76. Following the completion of the sale, the director now owns 208,735 shares in the company, valued at approximately $36,749,884.10. The trade was a 18.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the sale, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at $85,354,801.35. The trade was a 2.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 376,904 shares of company stock worth $62,545,855. Company insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Large investors have recently bought and sold shares of the business. Groupama Asset Managment purchased a new position in shares of Snowflake in the 3rd quarter valued at $25,000. V Square Quantitative Management LLC bought a new stake in Snowflake during the third quarter valued at about $30,000. Fortitude Family Office LLC purchased a new position in Snowflake in the third quarter valued at about $34,000. Larson Financial Group LLC raised its holdings in Snowflake by 81.3% in the third quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock worth $39,000 after purchasing an additional 152 shares in the last quarter. Finally, Waldron Private Wealth LLC bought a new position in Snowflake in the third quarter worth about $40,000. Institutional investors 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.