Snowflake (NYSE:SNOW) Lowered to “Sell” Rating by StockNews.com

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

Several other research firms also recently issued reports on SNOW. DA Davidson restated a “buy” rating and set a $175.00 target price on shares of Snowflake in a research report on Thursday, October 3rd. Piper Sandler increased their price objective on Snowflake from $185.00 to $208.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Jefferies Financial Group lifted their target price on Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 16th. Evercore ISI increased their price target on shares of Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Mizuho raised their price objective on shares of Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, eight have given 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, the company presently has an average rating of “Moderate Buy” and an average target price of $188.06.

Snowflake Stock Performance

SNOW traded down $0.89 during trading hours on Friday, hitting $174.05. The stock had a trading volume of 2,940,883 shares, compared to its average volume of 4,811,950. 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. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The company’s fifty day simple moving average is $164.87 and its 200 day simple moving average is $135.90.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 127,247 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were 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 of the company’s stock, valued at approximately $34,418,276.25. This trade represents a 39.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Christopher William Degnan sold 76,692 shares of the stock in a transaction dated 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 completion of the transaction, the executive now directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 504,151 shares of company stock worth $84,973,139. Company insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several hedge funds have recently made changes to their positions in the company. Groupama Asset Managment bought a new stake in Snowflake during the 3rd quarter valued at about $25,000. V Square Quantitative Management LLC purchased a new stake in shares of Snowflake during the third quarter valued at approximately $30,000. Fortitude Family Office LLC bought a new stake in shares of Snowflake during the third quarter valued at approximately $34,000. Perkins Coie Trust Co raised its holdings in Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after acquiring an additional 139 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in Snowflake in the 4th quarter valued at approximately $38,000. 65.10% of the stock is currently 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.