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

Snowflake (NYSE:SNOW) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Several other brokerages also recently commented on SNOW. TD Cowen boosted their target price on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Wells Fargo & Company boosted their price objective on shares of Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday. JMP Securities reiterated a “market outperform” rating and set a $190.00 price target on shares of Snowflake in a report on Tuesday, December 3rd. Cantor Fitzgerald upped their target price on shares of Snowflake from $201.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Piper Sandler increased their price objective on shares of Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.92.

Snowflake Price Performance

NYSE:SNOW opened at $176.76 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a fifty day simple moving average of $173.19 and a 200 day simple moving average of $145.64. 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 PE ratio of -52.14 and a beta of 1.07.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 100,000 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the transaction, the director now owns 195,281 shares of the company’s stock, valued at approximately $30,268,555. This represents a 33.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Emily Ho sold 1,508 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total value of $246,060.36. Following the completion of the sale, the chief accounting officer now owns 44,760 shares of the company’s stock, valued at $7,303,489.20. This represents a 3.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 312,193 shares of company stock valued at $52,833,048 in the last three months. Corporate insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Institutional investors and hedge funds have recently made changes to their positions in the company. Groupama Asset Managment acquired a new stake in Snowflake during the 3rd quarter worth about $25,000. Stonebridge Financial Group LLC bought a new position in shares of Snowflake in the fourth quarter worth $29,000. West Paces Advisors Inc. purchased a new stake in Snowflake during the fourth quarter valued at about $31,000. Spurstone Advisory Services LLC purchased a new stake in shares of Snowflake during the fourth quarter worth about $31,000. Finally, Capital A Wealth Management LLC bought a new position in shares of Snowflake during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds 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.