Snowflake (NYSE:SNOW) Upgraded by Macquarie to Hold Rating

Snowflake (NYSE:SNOW - Get Free Report) was upgraded by Macquarie to a "hold" rating in a report released on Tuesday, April 1st,Zacks.com reports.

A number of other brokerages also recently weighed in on SNOW. Citigroup boosted their target price on shares of Snowflake from $230.00 to $235.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. Scotiabank increased their price objective on Snowflake from $170.00 to $220.00 and gave the company a "sector outperform" rating in a research report on Monday, December 9th. Barclays upped their target price on shares of Snowflake from $190.00 to $203.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. Guggenheim reissued a "neutral" rating on shares of Snowflake in a research note on Thursday, February 27th. Finally, Mizuho boosted their target price on Snowflake from $195.00 to $205.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Snowflake presently has an average rating of "Moderate Buy" and an average price target of $201.84.

Snowflake Price Performance

SNOW stock traded down $1.23 during trading on Tuesday, hitting $132.28. 1,898,089 shares of the stock traded hands, compared to its average volume of 6,409,683. The company has a 50 day simple moving average of $165.98 and a 200 day simple moving average of $152.83. Snowflake has a one year low of $107.13 and a one year high of $194.40. The stock has a market cap of $43.67 billion, a price-to-earnings ratio of -39.17 and a beta of 1.13. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

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Insider Activity at Snowflake

In related news, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the sale, the director now owns 26,375 shares in the company, valued at $3,408,968.75. This represents a 1.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the sale, the chief financial officer now owns 292,610 shares of the company's stock, valued at approximately $47,756,878.10. The trade was a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 491,589 shares of company stock worth $82,405,796 in the last quarter. 7.80% of the stock is owned by insiders.

Institutional Trading of Snowflake

Several hedge funds have recently modified their holdings of SNOW. Stonebridge Financial Group LLC acquired a new position in shares of Snowflake during the fourth quarter worth approximately $29,000. West Paces Advisors Inc. bought a new stake in Snowflake in the 4th quarter worth about $31,000. Spurstone Advisory Services LLC purchased a new stake in Snowflake in the 4th quarter valued at about $31,000. Capital A Wealth Management LLC purchased a new position in shares of Snowflake in the 4th quarter worth approximately $31,000. Finally, Carolinas Wealth Consulting LLC bought a new position in shares of Snowflake in the fourth quarter valued at approximately $32,000. 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.