Snowflake (NYSE:SNOW) Upgraded at StockNews.com

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

Several other research analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Jefferies Financial Group lifted their price target on Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Guggenheim restated a “neutral” rating on shares of Snowflake in a report on Thursday. Monness Crespi & Hardt upped their price target on Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Oppenheimer upped their price target on Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $202.92.

Snowflake Price Performance

Shares of SNOW opened at $176.76 on Friday. Snowflake has a 1-year low of $107.13 and a 1-year high of $194.40. The firm has a 50-day simple moving average of $173.19 and a two-hundred day simple moving average of $145.64. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market cap of $58.35 billion, a PE ratio of -52.14 and a beta of 1.07.

Insiders Place Their Bets

In other news, Director Frank Slootman sold 2,218 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $175.00, for a total value of $388,150.00. Following the transaction, the director now owns 208,735 shares in the company, valued at $36,528,625. The trade was a 1.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $174.06, for a total transaction of $2,224,834.92. Following the completion of the transaction, the executive now directly owns 323,731 shares in the company, valued at approximately $56,348,617.86. The trade was a 3.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 312,193 shares of company stock valued at $52,833,048. 7.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently bought and sold shares of SNOW. Allspring Global Investments Holdings LLC grew its holdings in shares of Snowflake by 73.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 792 shares of the company’s stock valued at $91,000 after purchasing an additional 335 shares in the last quarter. J.W. Cole Advisors Inc. purchased a new stake in shares of Snowflake during the third quarter valued at approximately $231,000. AM Investment Strategies LLC bought a new stake in shares of Snowflake in the third quarter worth $233,000. Clear Creek Financial Management LLC boosted its holdings in shares of 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 period. Finally, Pure Financial Advisors LLC bought a new stake in Snowflake in the third quarter worth about $376,000. Hedge funds and other 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.