Snowflake (NYSE:SNOW) Cut to Sell at StockNews.com

StockNews.com cut shares of Snowflake (NYSE:SNOW) from a hold rating to a sell rating in a research note published on Thursday.

Other research analysts have also issued research reports about the stock. Loop Capital increased their price target on shares of Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. UBS Group decreased their price target on Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Barclays upgraded Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 price target on the stock in a research report on Friday, January 10th. Oppenheimer lifted their price objective on Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, January 13th. Finally, Citigroup lowered their target price on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a report on Monday, November 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $188.06.

Snowflake Stock Up 1.9 %

SNOW opened at $170.89 on Thursday. The company has a market capitalization of $56.41 billion, a P/E ratio of -50.41 and a beta of 1.05. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The firm’s fifty day moving average price is $161.11 and its two-hundred day moving average price is $135.02. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total value of $99,882.00. Following the sale, the executive vice president now owns 690,647 shares of the company’s stock, valued at approximately $123,625,813. This trade represents a 0.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Christopher William Degnan sold 76,692 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the transaction, the executive now directly owns 346,741 shares of the company’s stock, valued at $58,398,119.22. This represents a 18.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 376,904 shares of company stock valued at $62,545,855 over the last quarter. Corporate insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. New Century Financial Group LLC bought a new stake in Snowflake in the 4th quarter valued at $267,000. Spinnaker Investment Group LLC acquired a new stake in shares of Snowflake during the 4th quarter worth about $226,000. IVC Wealth Advisors LLC acquired a new stake in shares of Snowflake during the 4th quarter worth about $244,000. Donoghue Forlines LLC boosted its holdings in shares of Snowflake by 168.1% during the 4th quarter. Donoghue Forlines LLC now owns 12,424 shares of the company’s stock worth $1,918,000 after buying an additional 7,790 shares during the period. Finally, Avior Wealth Management LLC grew its stake in Snowflake by 182.0% in the 4th quarter. Avior Wealth Management LLC now owns 313 shares of the company’s stock valued at $48,000 after buying an additional 202 shares during the last quarter. Institutional investors and hedge funds 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.