Snowflake (NYSE:SNOW) Lowered to Sell Rating by StockNews.com

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

A number of other brokerages also recently commented on SNOW. Needham & Company LLC lifted their target price 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. Monness Crespi & Hardt lifted their price target on shares of Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. TD Cowen increased their price objective on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. DA Davidson reissued a “buy” rating and set a $175.00 target price on shares of Snowflake in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company raised Snowflake from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $150.00 to $200.00 in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $187.69.

Snowflake Stock Up 1.6 %

NYSE SNOW opened at $165.96 on Thursday. The business’s fifty day simple moving average is $158.33 and its 200-day simple moving average is $134.37. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a market cap of $54.78 billion, a PE ratio of -48.96 and a beta of 1.05. Snowflake has a 52 week low of $107.13 and a 52 week high of $237.72.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 45,896 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $176.06, for a total value of $8,080,449.76. Following the transaction, the director now owns 208,735 shares in the company, valued at approximately $36,749,884.10. This represents a 18.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the sale, the executive vice president now owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. The trade was a 2.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 376,904 shares of company stock worth $62,545,855 over the last ninety days. Corporate insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

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

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.