Snowflake (NYSE:SNOW) Stock Rating Upgraded by 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 morning, Marketbeat reports. They currently have $190.00 target price on the stock.

SNOW has been the subject of several other research reports. Stifel Nicolaus decreased their price objective on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a report on Monday, August 19th. StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. UBS Group reduced their price objective on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Mizuho raised their price target on shares of Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Royal Bank of Canada upped their price target on shares of Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $181.09.

Snowflake Trading Up 2.5 %

SNOW stock opened at $171.60 on Monday. The stock has a market cap of $57.52 billion, a P/E ratio of -50.62 and a beta of 0.83. The stock’s fifty day simple moving average is $121.23 and its two-hundred day simple moving average is $127.91. Snowflake has a 1-year low of $107.13 and a 1-year high of $237.72.

Insider Activity

In other Snowflake news, Director Frank Slootman sold 45,896 shares of Snowflake stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the completion of the sale, the director now directly owns 208,735 shares of the company’s stock, valued at $36,749,884.10. The trade was a 18.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Christopher William Degnan sold 76,692 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $168.42, for a total value of $12,916,466.64. Following the transaction, the executive now directly owns 346,741 shares in the company, valued at $58,398,119.22. The trade was a 18.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 182,126 shares of company stock valued at $28,058,461. 7.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Snowflake

A number of large investors have recently bought and sold shares of SNOW. LRI Investments LLC raised its position in shares of Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after acquiring an additional 112 shares in the last quarter. Groupama Asset Managment bought a new stake in shares of Snowflake in the 3rd quarter valued at about $25,000. Wellington Shields Capital Management LLC purchased a new position in shares of Snowflake in the 2nd quarter worth approximately $27,000. V Square Quantitative Management LLC bought a new position in shares of Snowflake during the 3rd quarter worth approximately $30,000. Finally, Fortitude Family Office LLC purchased a new stake in Snowflake during the third quarter valued at approximately $34,000. 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.