Snowflake (NYSE:SNOW) Shares Up 0.8% Following Analyst Upgrade

Snowflake Inc. (NYSE:SNOW) shares rose 0.8% during mid-day trading on Tuesday after Loop Capital raised their price target on the stock from $185.00 to $205.00. Loop Capital currently has a buy rating on the stock. Snowflake traded as high as $163.69 and last traded at $162.78. Approximately 731,616 shares were traded during trading, a decline of 89% from the average daily volume of 6,747,990 shares. The stock had previously closed at $161.44.

Several other research firms have also recently weighed in on SNOW. Argus assumed coverage on shares of Snowflake in a research report on Tuesday, October 1st. They set a “hold” rating on the stock. Wells Fargo & Company raised their price target on Snowflake from $125.00 to $150.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Barclays upped their price objective on Snowflake from $172.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Citigroup decreased their price objective on Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a report on Monday, November 18th. Finally, UBS Group cut their target price on Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus target price of $185.03.

Insider Transactions at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were 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 in the company, valued at $85,354,801.35. The trade was a 2.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Christopher William Degnan sold 76,692 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $168.42, for a total value of $12,916,466.64. Following the transaction, the executive now owns 346,741 shares of the company’s stock, valued at approximately $58,398,119.22. The trade was a 18.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 292,614 shares of company stock valued at $48,389,953 over the last 90 days. Company 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 business. Cambridge Investment Research Advisors Inc. raised its holdings in Snowflake by 14.2% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 40,735 shares of the company’s stock valued at $5,503,000 after buying an additional 5,061 shares during the period. Harbour Investments Inc. boosted its stake in shares of Snowflake by 11.7% during the 2nd quarter. Harbour Investments Inc. now owns 4,280 shares of the company’s stock worth $578,000 after purchasing an additional 449 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Snowflake during the 2nd quarter worth about $59,000. Banco Santander S.A. grew its holdings in Snowflake by 42.1% during the 2nd quarter. Banco Santander S.A. now owns 7,365 shares of the company’s stock valued at $995,000 after purchasing an additional 2,182 shares during the last quarter. Finally, Ameritas Advisory Services LLC raised its position in Snowflake by 11.9% in the 2nd quarter. Ameritas Advisory Services LLC now owns 3,973 shares of the company’s stock worth $537,000 after purchasing an additional 422 shares during the period. 65.10% of the stock is currently owned by institutional investors.

Snowflake Trading Up 1.0 %

The company’s 50 day simple moving average is $144.54 and its 200-day simple moving average is $130.80. The firm has a market cap of $53.83 billion, a P/E ratio of -48.10 and a beta of 1.02. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

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.