Snowflake (NYSE:SNOW) Lowered to Sell Rating by StockNews.com

StockNews.com lowered shares of Snowflake (NYSE:SNOW) from a hold rating to a sell rating in a research note published on Thursday.

A number of other research firms have also recently weighed in on SNOW. Oppenheimer reiterated an “outperform” rating and set a $180.00 price target on shares of Snowflake in a report on Thursday, November 21st. UBS Group dropped their price target on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Citigroup decreased their price objective on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a report on Monday, November 18th. Wells Fargo & Company lifted their target price on shares of Snowflake from $125.00 to $150.00 and gave the company an “equal weight” rating in a report on Thursday, November 21st. Finally, 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. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $181.09.

Snowflake Trading Up 0.6 %

Shares of SNOW opened at $174.80 on Thursday. Snowflake has a 12-month low of $107.13 and a 12-month high of $237.72. The firm has a market capitalization of $58.59 billion, a P/E ratio of -51.56 and a beta of 0.83. The firm has a 50-day moving average price of $126.17 and a 200 day moving average price of $128.27.

Insider Activity at Snowflake

In related news, CAO Emily Ho sold 2,021 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $173.68, for a total value of $351,007.28. Following the completion of the sale, the chief accounting officer now directly owns 26,874 shares in the company, valued at approximately $4,667,476.32. The trade was a 6.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 204,661 shares of company stock valued at $32,004,752. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. LRI Investments LLC grew its stake in shares of Snowflake by 155.6% in the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after buying an additional 112 shares in the last quarter. Groupama Asset Managment acquired a new stake in Snowflake in the third quarter valued at approximately $25,000. Wellington Shields Capital Management LLC acquired a new stake in Snowflake in the second quarter valued at approximately $27,000. V Square Quantitative Management LLC acquired a new position in shares of Snowflake during the third quarter worth $30,000. Finally, Fortitude Family Office LLC purchased a new position in shares of Snowflake in the third quarter valued at $34,000. 65.10% of the stock is 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.