StockNews.com Downgrades Snowflake (NYSE:SNOW) to Sell

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

Other analysts have also issued reports about the stock. Needham & Company LLC lifted their target price on shares of Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Wells Fargo & Company raised Snowflake from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $150.00 to $200.00 in a report on Tuesday, January 7th. Piper Sandler increased their target price on Snowflake from $185.00 to $208.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Evercore ISI boosted their price target on Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Jefferies Financial Group increased their price objective on Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and an average target price of $188.06.

Snowflake Stock Performance

SNOW opened at $174.05 on Friday. The stock’s 50 day simple moving average is $165.83 and its 200-day simple moving average is $136.13. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a market cap of $57.45 billion, a PE ratio of -51.34 and a beta of 1.05. 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 127,247 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total value of $22,427,283.75. Following the completion of the sale, the director now directly owns 195,281 shares in the company, valued at $34,418,276.25. This represents a 39.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated 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 directly owns 706,755 shares in the company, valued at approximately $85,354,801.35. This represents a 2.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 504,151 shares of company stock valued at $84,973,139 in the last ninety days. 7.80% of the stock is owned by insiders.

Institutional Trading of Snowflake

A number of large investors have recently bought and sold shares of SNOW. Groupama Asset Managment acquired a new stake in shares of Snowflake during the third quarter worth $25,000. Perkins Coie Trust Co grew its holdings in shares of Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after buying an additional 139 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Snowflake by 1,437.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock worth $38,000 after acquiring an additional 230 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Snowflake in the fourth quarter valued at approximately $38,000. Finally, V Square Quantitative Management LLC bought a new stake in shares of Snowflake in the third quarter worth $30,000. 65.10% of the stock is owned by institutional investors.

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.