By otakuyassine3@gmail.com 
Snowflake (NYSE:SNOW – Get Free Report) was downgraded by analysts at Wedbush from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.
Other analysts have also recently issued research reports about the company. Monness Crespi & Hardt lifted their price objective on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Piper Sandler reissued an “overweight” rating and set a $185.00 price objective on shares of Snowflake in a research note on Tuesday. Hsbc Global Res raised Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. Needham & Company LLC increased their target price on Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, StockNews.com cut Snowflake from a “hold” rating to a “sell” rating in a report on Thursday, November 28th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $184.46.
Get Our Latest Stock Analysis on Snowflake
Snowflake Price Performance
Shares of NYSE:SNOW opened at $164.21 on Wednesday. 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’s fifty day moving average price is $142.93 and its two-hundred day moving average price is $130.46. The stock has a market cap of $54.21 billion, a PE ratio of -48.44 and a beta of 1.03. Snowflake has a one year low of $107.13 and a one year high of $237.72.
Insider Transactions at Snowflake
In other news, insider Benoit Dageville sold 287 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $111.41, for a total value of $31,974.67. Following the completion of the sale, the insider now directly owns 53,250 shares in the company, valued at approximately $5,932,582.50. The trade was a 0.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christian Kleinerman sold 3,029 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $171.00, for a total value of $517,959.00. Following the transaction, the executive vice president now owns 684,639 shares in the company, valued at $117,073,269. This trade represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 292,901 shares of company stock valued at $48,375,520. Insiders own 7.80% of the company’s stock.
Institutional Trading of Snowflake
A number of institutional investors and hedge funds have recently modified their holdings of SNOW. State Street Corp raised its stake in Snowflake by 0.8% during the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after acquiring an additional 54,909 shares during the period. Geode Capital Management LLC raised its position in shares of Snowflake by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock worth $475,894,000 after purchasing an additional 138,663 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of Snowflake by 27.9% in the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after purchasing an additional 881,700 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its position in Snowflake by 19,399.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after purchasing an additional 2,559,144 shares during the period. Finally, Legal & General Group Plc grew its stake in Snowflake by 11.5% during the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after buying an additional 223,936 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.
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.
See Also
Receive News & Ratings for Snowflake Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Snowflake and related companies with MarketBeat.com’s FREE daily email newsletter.