Snowflake (NYSE:SNOW) Shares Up 0.8% on Analyst Upgrade

Snowflake Inc. (NYSE:SNOW)’s share price rose 0.8% during mid-day trading on Tuesday after Loop Capital raised their price target on the stock from $185.00 to $205.00. Loop Capital currently has a buy rating on the stock. Snowflake traded as high as $163.69 and last traded at $162.78. Approximately 731,616 shares were traded during trading, a decline of 89% from the average daily volume of 6,747,990 shares. The stock had previously closed at $161.44.

SNOW has been the subject of a number of other research reports. Truist Financial reiterated a “buy” rating and set a $210.00 price objective on shares of Snowflake in a report on Thursday, November 21st. Needham & Company LLC raised their price target on shares of Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Scotiabank raised their target price on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. Royal Bank of Canada lifted their price target on shares of Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, DA Davidson reissued a “buy” rating and issued a $175.00 price objective on shares of Snowflake in a research report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average target price of $185.03.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 30,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the completion of the sale, the executive vice president now directly owns 721,755 shares of the company’s stock, valued at approximately $86,610,600. This trade represents a 3.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank Slootman sold 45,896 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the completion of the transaction, the director now owns 208,735 shares in the company, valued at $36,749,884.10. This represents a 18.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 292,614 shares of company stock worth $48,389,953. 7.80% of the stock is owned by insiders.

Institutional Trading of Snowflake

Institutional investors have recently added to or reduced their stakes in the business. Oddo BHF Asset Management Sas bought a new stake in shares of Snowflake during the 3rd quarter valued at about $12,145,000. Garde Capital Inc. lifted its holdings in Snowflake by 9.5% in the third quarter. Garde Capital Inc. now owns 6,050 shares of the company’s stock worth $695,000 after acquiring an additional 526 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Snowflake by 1.4% during the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after purchasing an additional 7,373 shares during the last quarter. Synovus Financial Corp grew its holdings in shares of Snowflake by 28.6% during the third quarter. Synovus Financial Corp now owns 6,077 shares of the company’s stock valued at $698,000 after purchasing an additional 1,352 shares during the last quarter. Finally, Blankinship & Foster LLC bought a new stake in shares of Snowflake in the 3rd quarter worth approximately $896,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Trading Up 1.0 %

The firm has a market cap of $53.83 billion, a P/E ratio of -48.10 and a beta of 1.02. The firm has a fifty day moving average of $146.23 and a 200-day moving average of $131.25. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

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.