Snowflake (NYSE:SNOW) Rating Lowered to Sell at StockNews.com

Snowflake (NYSE:SNOW) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

Several other research firms have also recently weighed in on SNOW. Deutsche Bank Aktiengesellschaft boosted 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. Monness Crespi & Hardt boosted their price objective on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Barclays raised Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a research report on Friday, January 10th. Wedbush cut Snowflake from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, TD Cowen upped their price target on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-nine have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $188.06.

Snowflake Trading Up 1.9 %

Shares of Snowflake stock opened at $170.89 on Thursday. The stock has a fifty day simple moving average of $160.11 and a 200 day simple moving average of $134.83. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake has a 12-month low of $107.13 and a 12-month high of $237.72. The company has a market capitalization of $56.41 billion, a P/E ratio of -50.41 and a beta of 1.05.

Insider Activity

In related news, CAO Emily Ho sold 2,021 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $173.68, for a total transaction of $351,007.28. Following the completion of the sale, the chief accounting officer now directly owns 26,874 shares in the company, valued at $4,667,476.32. This represents a 6.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the sale, the executive vice president now owns 706,755 shares of the company’s stock, valued at $85,354,801.35. This represents a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 376,904 shares of company stock worth $62,545,855. 7.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snowflake

Several institutional investors have recently bought and sold shares of the stock. New Century Financial Group LLC purchased a new stake in Snowflake during the 4th quarter valued at about $267,000. Spinnaker Investment Group LLC purchased a new stake in Snowflake in the 4th quarter worth approximately $226,000. IVC Wealth Advisors LLC purchased a new stake in Snowflake in the 4th quarter worth approximately $244,000. Donoghue Forlines LLC lifted its holdings in Snowflake by 168.1% in the 4th quarter. Donoghue Forlines LLC now owns 12,424 shares of the company’s stock worth $1,918,000 after buying an additional 7,790 shares during the period. Finally, Avior Wealth Management LLC lifted its holdings in Snowflake by 182.0% in the 4th quarter. Avior Wealth Management LLC now owns 313 shares of the company’s stock worth $48,000 after buying an additional 202 shares during the period. 65.10% of the stock is currently 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.