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 research report report published on Friday morning.

Several other research firms have also issued reports on SNOW. Cantor Fitzgerald lifted their target price on shares of Snowflake from $201.00 to $228.00 and gave the company an “overweight” rating in a report on Thursday. Evercore ISI lifted their target price on shares of Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Mizuho lifted their target price on shares of Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. JMP Securities reissued a “market outperform” rating and set a $190.00 price target on shares of Snowflake in a research report on Tuesday, December 3rd. Finally, Oppenheimer raised their price target on shares of Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.92.

Snowflake Price Performance

SNOW stock opened at $176.76 on Friday. The firm has a 50 day moving average price of $173.19 and a 200-day moving average price of $145.51. Snowflake has a 52-week low of $107.13 and a 52-week high of $194.40. The firm has a market capitalization of $58.35 billion, a price-to-earnings ratio of -52.14 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Insider Transactions at Snowflake

In related news, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $174.06, for a total transaction of $2,224,834.92. Following the transaction, the executive now owns 323,731 shares in the company, valued at approximately $56,348,617.86. The trade was a 3.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total transaction of $99,882.00. Following the transaction, the executive vice president now owns 690,647 shares in the company, valued at approximately $123,625,813. This trade represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 312,193 shares of company stock worth $52,833,048 in the last 90 days. 7.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Toronto Dominion Bank lifted its stake in Snowflake by 24.1% in the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after purchasing an additional 7,239 shares in the last quarter. Prospect Financial Services LLC purchased a new stake in Snowflake in the 4th quarter worth $288,000. Independent Advisor Alliance lifted its stake in Snowflake by 15.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after purchasing an additional 548 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Snowflake by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock worth $104,028,000 after purchasing an additional 8,857 shares in the last quarter. Finally, Bourgeon Capital Management LLC purchased a new stake in Snowflake in the 4th quarter worth $5,851,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.