Snowflake (NYSE:SNOW) Rating Lowered to Sell at StockNews.com

StockNews.com lowered shares of Snowflake (NYSE:SNOW) from a hold rating to a sell rating in a research note published on Thursday.

Several other research analysts have also weighed in on SNOW. Bank of America raised their price objective on shares of Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Wedbush upgraded Snowflake from a “neutral” rating to an “outperform” rating and set a $190.00 price target for the company in a research note on Monday, November 25th. Barclays increased their target price on Snowflake from $142.00 to $172.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Oppenheimer reiterated an “outperform” rating and issued a $180.00 price target on shares of Snowflake in a report on Thursday, November 21st. Finally, Loop Capital reduced their price target on shares of Snowflake from $225.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and a consensus price target of $181.09.

Snowflake Trading Up 0.6 %

SNOW stock opened at $174.80 on Thursday. The firm has a 50 day simple moving average of $126.17 and a 200-day simple moving average of $128.27. The company has a market capitalization of $58.59 billion, a P/E ratio of -51.56 and a beta of 0.83. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72.

Insider Buying and Selling

In other news, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the transaction, the executive vice president now owns 759,473 shares in the company, valued at approximately $83,511,651.08. The trade was a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Benoit Dageville sold 1,946 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the sale, the insider now directly owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. This represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 204,661 shares of company stock valued at $32,004,752. 7.80% of the stock is owned by corporate insiders.

Institutional Trading of Snowflake

A number of institutional investors have recently added to or reduced their stakes in the business. Modus Advisors LLC raised its stake in shares of Snowflake by 3.9% in the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock valued at $286,000 after acquiring an additional 94 shares in the last quarter. Catalyst Private Wealth LLC boosted its holdings in shares of Snowflake by 3.2% during the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after buying an additional 104 shares during the period. EverSource Wealth Advisors LLC grew its stake in Snowflake by 30.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 465 shares of the company’s stock valued at $72,000 after buying an additional 108 shares during the last quarter. LRI Investments LLC grew its stake in Snowflake by 155.6% in the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after buying an additional 112 shares during the last quarter. Finally, Hoylecohen LLC lifted its position in Snowflake by 2.7% during the 2nd quarter. Hoylecohen LLC now owns 4,357 shares of the company’s stock worth $589,000 after acquiring an additional 115 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.