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

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

A number of other research firms have also recently commented on SNOW. Truist Financial restated a “buy” rating and issued a $210.00 target price on shares of Snowflake in a research note on Thursday, November 21st. Mizuho raised their target price on Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Argus initiated coverage on Snowflake in a research note on Tuesday, October 1st. They issued a “hold” rating for the company. Jefferies Financial Group raised their target price on Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, Piper Sandler raised their price objective on Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.06.

Snowflake Trading Up 1.9 %

SNOW opened at $170.89 on Thursday. The stock has a market cap of $56.41 billion, a PE ratio of -50.41 and a beta of 1.05. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The business has a 50 day moving average of $160.11 and a 200-day moving average of $134.83. Snowflake has a 52 week low of $107.13 and a 52 week high of $237.72.

Insiders Place Their Bets

In other news, CAO Emily Ho sold 2,021 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $173.68, for a total transaction of $351,007.28. Following the transaction, the chief accounting officer now owns 26,874 shares of the company’s stock, valued at approximately $4,667,476.32. This represents a 6.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 558 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total value of $99,882.00. Following the completion of the sale, the executive vice president now owns 690,647 shares of the company’s stock, valued at $123,625,813. The trade was a 0.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 376,904 shares of company stock valued at $62,545,855 over the last ninety days. 7.80% of the stock is owned by insiders.

Institutional Trading of Snowflake

A number of large investors have recently modified their holdings of SNOW. Groupama Asset Managment purchased a new stake in shares of Snowflake in the third quarter valued at approximately $25,000. V Square Quantitative Management LLC purchased a new stake in shares of Snowflake in the third quarter valued at approximately $30,000. Fortitude Family Office LLC purchased a new stake in shares of Snowflake in the third quarter valued at approximately $34,000. Perkins Coie Trust Co boosted its holdings in shares of 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 purchasing an additional 139 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in shares of Snowflake by 81.3% in the third quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock valued at $39,000 after purchasing an additional 152 shares during the period. 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.