Snowflake (NYSE:SNOW) Lowered to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Snowflake (NYSE:SNOW) from a hold rating to a sell rating in a research note issued to investors on Thursday.

A number of other equities research analysts have also commented on SNOW. DA Davidson reiterated a “buy” rating and issued a $175.00 target price on shares of Snowflake in a research report on Thursday, October 3rd. Robert W. Baird lowered their price objective on Snowflake from $200.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Bank of America upped their price objective on Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. UBS Group lowered their price objective on Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Finally, KeyCorp upped their price objective on Snowflake from $150.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $181.09.

Snowflake Stock Up 1.4 %

Shares of NYSE SNOW opened at $173.70 on Thursday. The business’s 50 day moving average price is $124.88 and its 200 day moving average price is $128.64. The firm has a market cap of $58.22 billion, a P/E ratio of -51.24 and a beta of 0.83. Snowflake has a 52 week low of $107.13 and a 52 week high of $237.72.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 20,514 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $175.26, for a total transaction of $3,595,283.64. Following the completion of the transaction, the director now directly owns 208,735 shares in the company, valued at approximately $36,582,896.10. This represents a 8.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Christopher William Degnan sold 76,692 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $168.42, for a total value of $12,916,466.64. Following the transaction, the executive now owns 346,741 shares of the company’s stock, valued at approximately $58,398,119.22. This represents a 18.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 204,661 shares of company stock worth $32,004,752. 7.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. boosted its holdings in Snowflake by 1.4% during the 3rd quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after acquiring an additional 7,373 shares during the period. Synovus Financial Corp boosted its holdings in Snowflake by 28.6% during the 3rd quarter. Synovus Financial Corp now owns 6,077 shares of the company’s stock valued at $698,000 after acquiring an additional 1,352 shares during the period. Blankinship & Foster LLC purchased a new position in Snowflake during the 3rd quarter valued at about $896,000. Wilmington Savings Fund Society FSB boosted its holdings in Snowflake by 50.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,659 shares of the company’s stock valued at $535,000 after acquiring an additional 1,559 shares during the period. Finally, Sanctuary Advisors LLC boosted its holdings in Snowflake by 2.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 25,328 shares of the company’s stock valued at $2,909,000 after acquiring an additional 514 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

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.