Snowflake (NYSE:SNOW) Rating Lowered to “Sell” at StockNews.com

Snowflake (NYSE:SNOW) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

A number of other equities analysts also recently commented on the stock. Truist Financial restated a “buy” rating and set a $210.00 price objective on shares of Snowflake in a research report on Thursday, November 21st. Loop Capital increased their price objective on Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Monness Crespi & Hardt boosted their target price on shares of Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Barclays upgraded shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 price target for the company in a report on Friday, January 10th. Finally, Wedbush downgraded shares of Snowflake from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.69.

Snowflake Price Performance

Snowflake stock opened at $165.96 on Thursday. 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 business has a 50 day simple moving average of $158.33 and a 200-day simple moving average of $134.37. Snowflake has a 12 month low of $107.13 and a 12 month high of $237.72. The stock has a market capitalization of $54.78 billion, a PE ratio of -48.96 and a beta of 1.05.

Insider Buying and Selling

In other news, CAO Emily Ho sold 2,021 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $173.68, for a total transaction 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 $4,667,476.32. This represents a 6.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total value of $2,700,000.00. Following the completion of the transaction, the executive vice president now directly owns 691,755 shares in the company, valued at $124,515,900. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 376,904 shares of company stock worth $62,545,855. 7.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snowflake

A number of large investors have recently modified their holdings of the company. Breakwater Capital Group grew its holdings in shares of Snowflake by 2.2% during the 4th quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after purchasing an additional 62 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its position in Snowflake by 31.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock valued at $59,000 after buying an additional 90 shares in the last quarter. Modus Advisors LLC grew its stake in Snowflake by 3.9% during the third quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after buying an additional 94 shares during the period. Catalyst Private Wealth LLC increased its position in shares of Snowflake by 3.2% in the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after acquiring an additional 104 shares in the last quarter. Finally, Clear Creek Financial Management LLC raised its stake in shares of Snowflake by 6.7% in the 3rd quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company’s stock valued at $210,000 after acquiring an additional 115 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

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.