Snowflake (NYSE:SNOW) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Snowflake (NYSE:SNOW) from an equal weight rating to an overweight rating in a report issued on Tuesday morning, MarketBeat.com reports. They currently have $200.00 price target on the stock, up from their prior price target of $150.00.

Several other research analysts also recently issued reports on SNOW. Piper Sandler boosted their price objective on shares of Snowflake from $185.00 to $208.00 and gave the stock an “overweight” rating in a report on Monday. UBS Group cut their price target on Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Mizuho lifted their price objective on Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Evercore ISI boosted their price objective on Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $187.11.

Snowflake Trading Up 1.5 %

Shares of SNOW stock opened at $161.16 on Tuesday. The firm has a market capitalization 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 firm’s fifty day simple moving average is $155.48 and its 200 day simple moving average is $133.61. 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 other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Christopher William Degnan sold 76,692 shares of Snowflake stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the sale, the executive now owns 346,741 shares of the company’s stock, valued at approximately $58,398,119.22. This represents a 18.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 376,904 shares of company stock valued at $62,545,855. 7.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Modus Advisors LLC boosted its stake in Snowflake by 3.9% during the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after acquiring an additional 94 shares during the last quarter. Catalyst Private Wealth LLC boosted its position in shares of Snowflake by 3.2% during the third quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after purchasing an additional 104 shares in the last quarter. Clear Creek Financial Management LLC grew its holdings in shares of Snowflake by 6.7% in the 3rd quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company’s stock valued at $210,000 after buying an additional 115 shares during the period. Covestor Ltd increased its position in shares of Snowflake by 16.2% in the 3rd quarter. Covestor Ltd now owns 827 shares of the company’s stock valued at $95,000 after buying an additional 115 shares in the last quarter. Finally, Alta Wealth Advisors LLC raised its stake in Snowflake by 3.9% during the 3rd quarter. Alta Wealth Advisors LLC now owns 3,210 shares of the company’s stock worth $369,000 after buying an additional 121 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

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.