Snowflake (NYSE:SNOW) Downgraded to Sell Rating by StockNews.com

StockNews.com cut shares of Snowflake (NYSE:SNOW) from a hold rating to a sell rating in a report published on Thursday morning.

Other research analysts also recently issued reports about the company. Barclays upgraded Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 price target for the company in a research note on Friday, January 10th. Truist Financial restated a “buy” rating and set a $210.00 target price on shares of Snowflake in a report on Thursday, November 21st. Citigroup cut their price target on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a research note on Monday, November 18th. Jefferies Financial Group boosted their price objective on shares of Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-eight have given a buy rating to the company. According to data from MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and an average price target of $187.69.

Snowflake Price Performance

Shares of NYSE SNOW opened at $167.90 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The business has a 50-day moving average of $159.22 and a 200-day moving average of $134.60. The stock has a market capitalization of $55.43 billion, a price-to-earnings ratio of -49.53 and a beta of 1.05. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

Insider Activity

In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $157.24, for a total transaction of $2,009,841.68. Following the completion of the transaction, the executive now directly owns 311,999 shares in the company, valued at $49,058,722.76. The trade was a 3.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Slootman sold 100,000 shares of the company’s stock in a transaction 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 owns 195,281 shares of the company’s stock, valued at approximately $30,268,555. This represents a 33.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 376,904 shares of company stock worth $62,545,855. 7.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Snowflake

Hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in Snowflake by 26.3% in the second quarter. Dimensional Fund Advisors LP now owns 268,985 shares of the company’s stock valued at $36,332,000 after purchasing an additional 56,027 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Snowflake by 3.2% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,865 shares of the company’s stock valued at $792,000 after buying an additional 180 shares during the period. Amalgamated Bank raised its holdings in Snowflake by 1.1% in the 2nd quarter. Amalgamated Bank now owns 21,368 shares of the company’s stock valued at $2,887,000 after buying an additional 241 shares during the last quarter. Blair William & Co. IL boosted its position in Snowflake by 2.3% during the 2nd quarter. Blair William & Co. IL now owns 39,095 shares of the company’s stock worth $5,281,000 after buying an additional 889 shares during the period. Finally, Elo Mutual Pension Insurance Co grew its holdings in Snowflake by 7.9% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 27,599 shares of the company’s stock worth $3,728,000 after acquiring an additional 2,024 shares during the last quarter. 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.