Snowflake (NYSE:SNOW) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Snowflake (NYSE:SNOW) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

A number of other equities research analysts have also recently issued reports on the stock. JMP Securities reissued a “market outperform” rating and set a $190.00 target price on shares of Snowflake in a report on Tuesday, December 3rd. Monness Crespi & Hardt boosted their price target on shares of Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday. Barclays boosted their price target on shares of Snowflake from $190.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday. KeyCorp boosted their price target on shares of Snowflake from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Truist Financial restated a “buy” rating and set a $225.00 price target (up from $210.00) on shares of Snowflake in a research report on Thursday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus target price of $202.92.

Snowflake Trading Up 1.8 %

Shares of SNOW stock opened at $176.76 on Friday. The company’s fifty day simple moving average is $173.19 and its two-hundred day simple moving average is $145.51. 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 stock has a market capitalization of $58.35 billion, a price-to-earnings ratio of -52.14 and a beta of 1.07.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 127,247 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the completion of the sale, the director now directly owns 195,281 shares in the company, valued at approximately $34,418,276.25. This represents a 39.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the sale, the executive vice president now owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 312,193 shares of company stock worth $52,833,048. Company insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Institutional investors have recently modified their holdings of the company. Norges Bank purchased a new stake in Snowflake in the fourth quarter worth about $988,950,000. GQG Partners LLC purchased a new stake in Snowflake in the fourth quarter worth about $750,572,000. Jennison Associates LLC lifted its holdings in Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after buying an additional 3,662,671 shares during the period. FMR LLC lifted its holdings in Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after buying an additional 2,805,425 shares during the period. Finally, Ontario Teachers Pension Plan Board lifted its holdings in 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 worth $295,459,000 after buying an additional 2,559,144 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

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.