Snowflake (NYSE:SNOW) Upgraded to “Hold” at StockNews.com

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

A number of other brokerages have also recently commented on SNOW. Piper Sandler lifted their target price on shares of Snowflake from $185.00 to $208.00 and gave the stock an “overweight” rating in a research report on Monday. Mizuho lifted their price objective on Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. KeyCorp boosted their target price on Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Monness Crespi & Hardt raised their price target on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Oppenheimer reiterated an “outperform” rating and issued a $180.00 price objective on shares of Snowflake in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $187.11.

Snowflake Stock Up 1.5 %

Shares of NYSE SNOW opened at $161.16 on Wednesday. The stock has a market capitalization of $53.20 billion, a P/E ratio of -47.54 and a beta of 1.05. Snowflake has a one year low of $107.13 and a one year high of $237.72. The firm’s 50 day simple moving average is $154.55 and its two-hundred day simple moving average is $133.42. 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 Buying and Selling at Snowflake

In other Snowflake news, CAO Emily Ho sold 2,021 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $173.68, for a total value of $351,007.28. Following the completion of the sale, the chief accounting officer now owns 26,874 shares in the company, valued at $4,667,476.32. This represents a 6.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Frank Slootman sold 45,896 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $176.06, for a total value of $8,080,449.76. Following the completion of the transaction, the director now directly owns 208,735 shares in the company, valued at $36,749,884.10. This trade represents a 18.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 376,904 shares of company stock worth $62,545,855 in the last three months. 7.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Snowflake

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fulton Bank N.A. bought a new position in Snowflake in the 4th quarter worth $216,000. Diversified Trust Co lifted its position in shares of Snowflake by 174.8% in the fourth quarter. Diversified Trust Co now owns 4,906 shares of the company’s stock valued at $758,000 after acquiring an additional 3,121 shares in the last quarter. Doliver Advisors LP boosted its stake in shares of Snowflake by 268.7% in the fourth quarter. Doliver Advisors LP now owns 8,262 shares of the company’s stock worth $1,276,000 after acquiring an additional 6,021 shares during the period. Nordea Investment Management AB grew its position in shares of Snowflake by 2.3% during the fourth quarter. Nordea Investment Management AB now owns 23,911 shares of the company’s stock worth $3,682,000 after purchasing an additional 536 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new stake in Snowflake during the 4th quarter valued at approximately $1,390,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

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.