Snowflake (NYSE:SNOW) Raised to “Hold” at StockNews.com

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

Several other brokerages have also recently issued reports on SNOW. Deutsche Bank Aktiengesellschaft upped their price target on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Mizuho lifted their price objective on shares of Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Wells Fargo & Company upgraded Snowflake from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $150.00 to $200.00 in a report on Tuesday. Barclays upped their target price on shares of Snowflake from $172.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Finally, UBS Group cut their price target on Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.11.

Snowflake Trading Up 1.5 %

SNOW opened at $161.16 on Wednesday. The company’s 50 day moving average is $155.48 and its 200-day moving average is $133.61. The company has a market cap of $53.20 billion, a P/E ratio of -47.54 and a beta of 1.05. Snowflake has a 1-year low of $107.13 and a 1-year high of $237.72. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the transaction, the executive vice president now directly owns 706,755 shares in the company, valued at $85,354,801.35. The trade was a 2.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Slootman sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the completion of the sale, the director now directly owns 195,281 shares in the company, valued at approximately $30,268,555. The trade was 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. 7.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snowflake

A number of institutional investors have recently made changes to their positions in SNOW. Modus Advisors LLC raised its position in Snowflake by 3.9% during the third quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after purchasing an additional 94 shares in the last quarter. Catalyst Private Wealth LLC boosted its stake in 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 buying an additional 104 shares in the last quarter. Clear Creek Financial Management LLC grew its position in Snowflake by 6.7% during the third 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 last quarter. Covestor Ltd raised its position in Snowflake by 16.2% in the 3rd quarter. Covestor Ltd now owns 827 shares of the company’s stock worth $95,000 after purchasing an additional 115 shares during the period. Finally, Alta Wealth Advisors LLC lifted its stake in Snowflake by 3.9% in the third quarter. Alta Wealth Advisors LLC now owns 3,210 shares of the company’s stock worth $369,000 after purchasing an additional 121 shares during 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.