Snowflake (NYSE:SNOW) Upgraded by BTIG Research to “Buy” Rating

BTIG Research upgraded shares of Snowflake (NYSE:SNOW) from a neutral rating to a buy rating in a research note published on Thursday, Marketbeat.com reports. BTIG Research currently has $220.00 price target on the stock.

Other research analysts have also issued research reports about the company. Citigroup decreased their price objective on Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a report on Monday, November 18th. Loop Capital raised their price objective on Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a report on Monday, December 23rd. JMP Securities restated a “market outperform” rating and issued a $190.00 price objective on shares of Snowflake in a report on Tuesday, December 3rd. Wedbush upgraded Snowflake from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 21st. Finally, KeyCorp lifted their price target on Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $192.08.

Snowflake Stock Performance

Shares of SNOW stock opened at $185.35 on Thursday. The stock’s fifty day moving average is $172.68 and its two-hundred day moving average is $143.31. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $235.66.

Insider Activity

In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total value of $2,700,000.00. Following the completion of the transaction, the executive vice president now owns 691,755 shares in the company, valued at approximately $124,515,900. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Emily Ho sold 2,021 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $173.68, for a total value of $351,007.28. Following the sale, the chief accounting officer now owns 26,874 shares of the company’s stock, valued at approximately $4,667,476.32. The trade was a 6.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 394,345 shares of company stock worth $67,286,835. 7.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Snowflake

Several institutional investors have recently added to or reduced their stakes in SNOW. Blue Trust Inc. lifted its stake in Snowflake by 168.5% during the third quarter. Blue Trust Inc. now owns 1,407 shares of the company’s stock worth $162,000 after purchasing an additional 883 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Snowflake by 73.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 792 shares of the company’s stock worth $91,000 after purchasing an additional 335 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Snowflake by 449.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 720 shares of the company’s stock worth $83,000 after purchasing an additional 589 shares during the last quarter. Signaturefd LLC lifted its stake in Snowflake by 13.0% during the third quarter. Signaturefd LLC now owns 2,161 shares of the company’s stock worth $248,000 after purchasing an additional 248 shares during the last quarter. Finally, Waldron Private Wealth LLC purchased a new stake in Snowflake during the third quarter worth approximately $40,000. 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.