Snowflake (NYSE:SNOW) Stock Rating Upgraded by Wedbush

Wedbush upgraded shares of Snowflake (NYSE:SNOW) from a neutral rating to an outperform rating in a research note released on Monday, Marketbeat.com reports. Wedbush currently has $190.00 target price on the stock.

Several other research firms also recently commented on SNOW. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Evercore ISI upped their target price on shares of Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. DA Davidson reissued a “buy” rating and set a $175.00 price target on shares of Snowflake in a report on Thursday, October 3rd. Bank of America boosted their price target on Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Finally, TD Cowen increased their price objective on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $181.09.

Snowflake Trading Up 1.4 %

Shares of NYSE SNOW opened at $173.70 on Monday. The stock has a market cap of $58.22 billion, a P/E ratio of -51.24 and a beta of 0.83. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72. The stock has a 50 day moving average of $124.88 and a two-hundred day moving average of $128.64.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 20,514 shares of Snowflake stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $175.26, for a total transaction of $3,595,283.64. Following the completion of the transaction, the director now directly owns 208,735 shares in the company, valued at $36,582,896.10. The trade was a 8.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 in the company, valued at approximately $6,156,469.80. The trade was a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 204,661 shares of company stock valued at $32,004,752 in the last 90 days. 7.80% of the stock is currently owned by insiders.

Institutional Trading of Snowflake

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNOW. State Street Corp grew its stake in Snowflake by 0.8% in the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after acquiring an additional 54,909 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Snowflake by 3.5% during the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock worth $475,894,000 after purchasing an additional 138,663 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of Snowflake by 27.9% in the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after purchasing an additional 881,700 shares during the period. Ontario Teachers Pension Plan Board increased its stake in Snowflake by 19,399.2% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after purchasing an additional 2,559,144 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Snowflake by 11.5% during the second quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after buying an additional 223,936 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

About Snowflake

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.