Snowflake (NYSE:SNOW) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Snowflake (NYSE:SNOW) from a sell rating to a hold rating in a report released on Wednesday morning.

Several other equities analysts have also recently issued reports on SNOW. Needham & Company LLC lifted their price objective on shares of Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Scotiabank upped their price target on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. Rosenblatt Securities restated a “buy” rating and issued a $180.00 target price on shares of Snowflake in a report on Tuesday, November 19th. Argus initiated coverage on Snowflake in a report on Tuesday, October 1st. They set a “hold” rating for the company. Finally, Wedbush lowered shares of Snowflake from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $187.11.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $162.65 on Wednesday. Snowflake has a 1 year low of $107.13 and a 1 year high of $237.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a fifty day moving average price of $156.42 and a two-hundred day moving average price of $133.87. The firm has a market cap of $53.69 billion, a P/E ratio of -47.98 and a beta of 1.05.

Insider Activity at Snowflake

In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total transaction of $2,009,841.68. Following the transaction, the executive now owns 311,999 shares of the company’s stock, valued at $49,058,722.76. The trade was a 3.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Slootman sold 100,000 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 376,904 shares of company stock worth $62,545,855 in the last quarter. Corporate insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Several institutional investors and hedge funds have recently bought and sold shares of the business. RMR Wealth Builders acquired a new position in Snowflake in the 4th quarter valued at about $216,000. ORG Partners LLC raised its stake in Snowflake by 7.4% in the 4th quarter. ORG Partners LLC now owns 2,761 shares of the company’s stock worth $426,000 after purchasing an additional 190 shares in the last quarter. Fulton Bank N.A. acquired a new position in shares of Snowflake during the 4th quarter worth approximately $216,000. Diversified Trust Co grew its position in Snowflake by 174.8% during the fourth quarter. Diversified Trust Co now owns 4,906 shares of the company’s stock worth $758,000 after buying an additional 3,121 shares in the last quarter. Finally, Doliver Advisors LP raised its holdings in Snowflake by 268.7% in the 4th quarter. Doliver Advisors LP now owns 8,262 shares of the company’s stock valued at $1,276,000 after acquiring an additional 6,021 shares in the last quarter. 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.