Snowflake (NYSE:SNOW) Upgraded at Wedbush

Wedbush upgraded shares of Snowflake (NYSE:SNOW) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group upped their target price on shares of Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Oppenheimer raised their price target on shares of Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, January 13th. DA Davidson reiterated a “buy” rating and issued a $175.00 price objective on shares of Snowflake in a research note on Thursday, October 3rd. Barclays upgraded Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research note on Friday, January 10th. Finally, Rosenblatt Securities restated a “buy” rating and set a $180.00 price target on shares of Snowflake in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $188.06.

Snowflake Stock Down 1.5 %

Snowflake stock opened at $174.77 on Tuesday. Snowflake has a 52-week low of $107.13 and a 52-week high of $237.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a 50 day moving average price of $163.96 and a two-hundred day moving average price of $135.63. The firm has a market cap of $57.69 billion, a price-to-earnings ratio of -51.56 and a beta of 1.05.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction 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 $85,354,801.35. The trade was a 2.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Slootman sold 45,896 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the sale, the director now directly owns 208,735 shares in the company, valued at $36,749,884.10. This represents a 18.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 504,151 shares of company stock worth $84,973,139. 7.80% of the stock is owned by corporate insiders.

Institutional Trading of Snowflake

Institutional investors and hedge funds have recently modified their holdings of the stock. Caprock Group LLC increased its position in shares of Snowflake by 5.5% in the fourth quarter. Caprock Group LLC now owns 4,036 shares of the company’s stock valued at $623,000 after acquiring an additional 211 shares during the last quarter. Oak Harvest Investment Services bought a new position in Snowflake in the fourth quarter valued at approximately $2,370,000. Calton & Associates Inc. bought a new stake in shares of Snowflake during the 4th quarter worth approximately $401,000. OLD National Bancorp IN acquired a new stake in shares of Snowflake in the 4th quarter valued at approximately $244,000. Finally, General Catalyst Group Management LLC acquired a new stake in shares of Snowflake in the 4th quarter valued at approximately $40,931,000. 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.