Snowflake (NYSE:SNOW) Stock Price Up 1.7% Following Analyst Upgrade

Snowflake Inc. (NYSE:SNOW) shares shot up 1.7% during trading on Monday after Jefferies Financial Group raised their price target on the stock from $180.00 to $200.00. Jefferies Financial Group currently has a buy rating on the stock. Snowflake traded as high as $173.40 and last traded at $170.52. 1,857,493 shares traded hands during trading, a decline of 73% from the average session volume of 6,780,097 shares. The stock had previously closed at $167.67.

Several other research firms have also weighed in on SNOW. Royal Bank of Canada boosted their target price on shares of Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Stifel Nicolaus decreased their price objective on Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a report on Monday, August 19th. KeyCorp raised their target price on Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $175.00 price target on shares of Snowflake in a research note on Thursday, August 22nd. Finally, HSBC raised Snowflake from a “reduce” rating to a “hold” rating and raised their price objective for the stock from $119.00 to $121.00 in a research report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and an average target price of $184.46.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total value of $99,882.00. Following the sale, the executive vice president now owns 690,647 shares of the company’s stock, valued at approximately $123,625,813. The trade was a 0.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Benoit Dageville sold 287 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $111.41, for a total value of $31,974.67. Following the completion of the sale, the insider now directly owns 53,250 shares of the company’s stock, valued at $5,932,582.50. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 283,158 shares of company stock worth $46,709,467. 7.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently bought and sold shares of SNOW. LRI Investments LLC grew its position in Snowflake by 155.6% during the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after buying an additional 112 shares during the period. Wellington Shields Capital Management LLC acquired a new stake in shares of Snowflake in the 2nd quarter worth approximately $27,000. Groupama Asset Managment acquired a new stake in shares of Snowflake in the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC purchased a new position in Snowflake in the 3rd quarter valued at approximately $30,000. Finally, Fortitude Family Office LLC acquired a new position in Snowflake during the third quarter worth $34,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Stock Performance

The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The company has a market capitalization of $56.39 billion, a PE ratio of -50.39 and a beta of 1.03. The stock has a 50-day simple moving average of $141.26 and a 200 day simple moving average of $130.00.

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.