Snowflake (NYSE:SNOW) Upgraded at StockNews.com

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

Several other equities research analysts have also commented on the stock. KeyCorp boosted their target price on shares of Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Piper Sandler lifted their price objective on Snowflake from $185.00 to $208.00 and gave the stock an “overweight” rating in a report on Monday. UBS Group decreased their target price on Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Wedbush cut shares of Snowflake from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Oppenheimer restated an “outperform” rating and set a $180.00 target price on shares of Snowflake in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.11.

Snowflake Stock Performance

NYSE SNOW traded up $2.32 on Wednesday, hitting $161.16. 5,405,773 shares of the company’s stock were exchanged, compared to its average volume of 4,587,531. The firm has a market cap of $53.20 billion, a price-to-earnings ratio of -47.54 and a beta of 1.05. The firm’s 50-day moving average price is $154.55 and its two-hundred day moving average price is $133.42. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Insider Activity at Snowflake

In related news, CRO Christopher William Degnan sold 76,692 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the completion of the sale, the executive now directly owns 346,741 shares of the company’s stock, valued at approximately $58,398,119.22. This trade represents a 18.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $1,811,550.00. Following the completion of the transaction, the executive vice president now owns 706,755 shares in the company, valued at $85,354,801.35. This represents a 2.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 406,904 shares of company stock worth $66,145,855. Corporate insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

A number of hedge funds and other institutional investors have recently modified their holdings of SNOW. Toronto Dominion Bank raised its stake in shares of Snowflake by 24.1% in the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after purchasing an additional 7,239 shares in the last quarter. Independent Advisor Alliance increased its holdings in Snowflake by 15.5% in the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after buying an additional 548 shares during the last quarter. Franklin Resources Inc. raised its stake in Snowflake by 1.4% during the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after buying an additional 7,373 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Snowflake by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,247,511 shares of the company’s stock worth $143,289,000 after buying an additional 36,704 shares during the last quarter. Finally, Sender Co & Partners Inc. grew its position in shares of Snowflake by 100.9% in the 3rd quarter. Sender Co & Partners Inc. now owns 8,522 shares of the company’s stock worth $979,000 after acquiring an additional 4,280 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other 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.