Snowflake (NYSE:SNOW) Upgraded at Wedbush

Wedbush upgraded shares of Snowflake (NYSE:SNOW) from a neutral rating to an outperform rating in a report published on Monday morning, Marketbeat reports. The brokerage currently has $190.00 price objective on the stock.

Several other equities research analysts have also commented on the company. Mizuho boosted their price target on Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. UBS Group decreased their target price on Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Oppenheimer restated an “outperform” rating and issued a $180.00 price target on shares of Snowflake in a research report on Thursday, November 21st. Scotiabank cut their price target on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 22nd. Finally, Barclays increased their price objective on shares of Snowflake from $142.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $181.09.

Snowflake Trading Up 1.4 %

SNOW stock opened at $173.62 on Monday. The company’s 50-day moving average price is $123.68 and its 200 day moving average price is $128.32. Snowflake has a 52 week low of $107.13 and a 52 week high of $237.72. The company has a market cap of $58.20 billion, a P/E ratio of -51.22 and a beta of 0.83.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the sale, the executive vice president now directly owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. This represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benoit Dageville sold 1,946 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total value of $222,602.94. Following the completion of the sale, the insider now owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. This represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 204,661 shares of company stock worth $32,004,752 over the last three months. 7.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Snowflake

Several institutional investors and hedge funds have recently modified their holdings of SNOW. LRI Investments LLC purchased a new stake in shares of Snowflake during the 1st quarter valued at about $29,000. Wellington Shields Capital Management LLC purchased a new stake in shares of Snowflake during the second quarter valued at approximately $27,000. Groupama Asset Managment acquired a new position in shares of Snowflake during the third quarter worth $25,000. V Square Quantitative Management LLC acquired a new position in shares of Snowflake during the third quarter worth $30,000. Finally, Global Financial Private Client LLC purchased a new position in shares of Snowflake in the first quarter valued at $44,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

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.