Snowflake (NYSE:SNOW) Stock Rating Lowered by StockNews.com

Snowflake (NYSE:SNOW - Get Free Report) was downgraded by investment analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued to investors on Thursday.

Other research analysts have also issued research reports about the stock. Wedbush lowered shares of Snowflake from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Oppenheimer raised their price objective on Snowflake from $180.00 to $200.00 and gave the stock an "outperform" rating in a research note on Monday. DA Davidson reiterated a "buy" rating and issued a $175.00 target price on shares of Snowflake in a research report on Thursday, October 3rd. Needham & Company LLC increased their price target on shares of Snowflake from $160.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, November 21st. Finally, UBS Group decreased their price objective on shares of Snowflake from $155.00 to $125.00 and set a "neutral" rating for the company in a research note on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $187.69.

Snowflake Stock Up 1.3 %

NYSE:SNOW traded up $2.19 during trading hours on Thursday, reaching $167.90. The company's stock had a trading volume of 4,427,135 shares, compared to its average volume of 5,100,596. 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 company has a market capitalization of $55.43 billion, a P/E ratio of -49.53 and a beta of 1.05. The stock has a 50 day moving average price of $159.22 and a two-hundred day moving average price of $134.60. Snowflake has a 12 month low of $107.13 and a 12 month high of $237.72.

Insider Activity at Snowflake

In other Snowflake news, Director Frank Slootman sold 1,712 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total transaction of $306,448.00. Following the sale, the director now directly owns 205,965 shares in the company, valued at $36,867,735. This represents a 0.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the transaction, the executive vice president now owns 706,755 shares of the company's stock, valued at approximately $85,354,801.35. This trade represents a 2.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 376,904 shares of company stock worth $62,545,855. Insiders own 7.80% of the company's stock.

Institutional Investors Weigh In On Snowflake

Several institutional investors have recently modified their holdings of SNOW. Groupama Asset Managment purchased a new stake in Snowflake during the third quarter worth approximately $25,000. V Square Quantitative Management LLC acquired a new position in shares of Snowflake in the 3rd quarter valued at $30,000. Fortitude Family Office LLC purchased a new position in shares of Snowflake in the 3rd quarter valued at $34,000. Perkins Coie Trust Co raised its stake in Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock worth $37,000 after acquiring an additional 139 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in 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 acquiring an additional 152 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

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.