Snowflake (NYSE:SNOW) Upgraded at Wedbush

Wedbush upgraded shares of Snowflake (NYSE:SNOW) from a neutral rating to an outperform rating in a research note issued to investors on Monday, MarketBeat reports. The firm currently has $190.00 price target on the stock.

Several other research firms have also recently weighed in on SNOW. JMP Securities dropped their price target on shares of Snowflake from $235.00 to $190.00 and set a “market outperform” rating for the company in a research note on Thursday, August 22nd. Argus started coverage on Snowflake in a research report on Tuesday, October 1st. They issued a “hold” rating for the company. Wells Fargo & Company lifted their target price on Snowflake from $125.00 to $150.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Rosenblatt Securities reiterated a “buy” rating and set a $180.00 price target on shares of Snowflake in a report on Tuesday, November 19th. Finally, Monness Crespi & Hardt boosted their price objective on shares of Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.09.

Snowflake Trading Up 1.4 %

Shares of SNOW stock opened at $173.62 on Monday. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72. The company’s 50-day moving average price is $123.68 and its 200-day moving average price is $128.32. The stock has a market cap of $58.20 billion, a price-to-earnings ratio of -51.22 and a beta of 0.83.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 558 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the sale, the executive vice president now owns 759,473 shares in the company, valued at $83,511,651.08. This represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benoit Dageville sold 1,946 shares of Snowflake stock in a transaction 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 completion of the transaction, the insider now owns 53,820 shares in the company, valued at approximately $6,156,469.80. This represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 204,661 shares of company stock valued at $32,004,752 over the last ninety days. Insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. State Street Corp boosted its holdings in shares of Snowflake by 0.8% in the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock valued at $788,755,000 after acquiring an additional 54,909 shares in the last quarter. Geode Capital Management LLC lifted its position in Snowflake by 3.5% in the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock valued at $475,894,000 after purchasing an additional 138,663 shares during the period. Two Sigma Advisers LP lifted its position in Snowflake by 27.9% in the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after purchasing an additional 881,700 shares during the period. Ontario Teachers Pension Plan Board boosted its holdings in 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 valued at $295,459,000 after purchasing an additional 2,559,144 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Snowflake by 11.5% during the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after purchasing an additional 223,936 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

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.