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

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

Other analysts have also recently issued reports about the company. Loop Capital upped their price objective on Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Citigroup lowered their price objective on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a research report on Monday, November 18th. Royal Bank of Canada lifted their price objective on shares of Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Monness Crespi & Hardt upped their target price on shares of Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Jefferies Financial Group lifted their price target on Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and an average target price of $188.06.

Snowflake Stock Performance

Shares of Snowflake stock opened at $174.05 on Friday. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The business has a 50-day moving average price of $164.87 and a 200-day moving average price of $135.90.

Insider Activity

In other Snowflake news, Director Frank Slootman sold 45,896 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the completion of the sale, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $36,749,884.10. This represents a 18.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the transaction, the executive vice president now directly owns 706,755 shares in the company, valued at approximately $85,354,801.35. The trade was a 2.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 504,151 shares of company stock worth $84,973,139. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several institutional investors have recently bought and sold shares of SNOW. Groupama Asset Managment acquired a new stake in shares of Snowflake in the 3rd quarter worth $25,000. Perkins Coie Trust Co raised its stake in Snowflake by 136.3% in the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after buying an additional 139 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Snowflake by 1,437.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock worth $38,000 after acquiring an additional 230 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Snowflake during the fourth quarter worth about $38,000. Finally, V Square Quantitative Management LLC acquired a new position in shares of Snowflake during the third quarter valued at about $30,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.