Snowflake (NYSE:SNOW) Upgraded at StockNews.com

StockNews.com upgraded shares of Snowflake (NYSE:SNOW) from a sell rating to a hold rating in a research report released on Tuesday morning.

Several other research analysts have also commented on the company. Bank of America raised their price objective on Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Wolfe Research raised Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 target price on the stock in a research report on Tuesday. Mizuho lifted their target price on Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Jefferies Financial Group lifted their target price on Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Wedbush raised Snowflake from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $192.08.

Snowflake Price Performance

Shares of Snowflake stock opened at $185.35 on Tuesday. Snowflake has a twelve month low of $107.13 and a twelve month high of $235.66. The stock has a market capitalization of $61.18 billion, a P/E ratio of -54.68 and a beta of 1.07. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The business’s fifty day moving average price is $172.68 and its 200 day moving average price is $143.31.

Insider Buying and Selling

In related news, 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 transaction of $351,007.28. Following the sale, the chief accounting officer now owns 26,874 shares of the company’s stock, valued at $4,667,476.32. The trade was a 6.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank Slootman sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $155.00, for a total value of $15,500,000.00. Following the sale, the director now directly owns 195,281 shares in the company, valued at approximately $30,268,555. The trade was a 33.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 394,345 shares of company stock valued at $67,286,835 over the last quarter. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Toronto Dominion Bank lifted its position in shares of Snowflake by 9.2% during the 4th quarter. Toronto Dominion Bank now owns 40,655 shares of the company’s stock valued at $6,278,000 after acquiring an additional 3,429 shares during the last quarter. Cache Advisors LLC purchased a new stake in shares of Snowflake in the fourth quarter valued at $3,716,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Snowflake in the fourth quarter valued at $208,000. Vise Technologies Inc. purchased a new stake in shares of Snowflake in the fourth quarter valued at $213,000. Finally, Pinnacle Investment Management Ltd purchased a new stake in shares of Snowflake in the fourth quarter valued at $3,088,000. Institutional investors and hedge funds 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.