Snowflake (NYSE:SNOW) Trading 0.8% Higher After Analyst Upgrade

Shares of Snowflake Inc. (NYSE:SNOW) shot up 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. 731,616 shares changed hands during trading, a decline of 89% from the average session volume of 6,747,990 shares. The stock had previously closed at $161.44.

A number of other research firms have also weighed in on SNOW. Argus began coverage on shares of Snowflake in a research report on Tuesday, October 1st. They issued a “hold” rating for the company. Monness Crespi & Hardt upped their target price on shares of Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Truist Financial reissued a “buy” rating and set a $210.00 price target on shares of Snowflake in a report on Thursday, November 21st. Scotiabank boosted 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. Finally, JMP Securities reiterated a “market outperform” rating and set a $190.00 target price on shares of Snowflake in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.03.

Insider Transactions at Snowflake

In other Snowflake news, Director Frank Slootman sold 1,712 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total transaction of $306,448.00. Following the transaction, the director now directly owns 205,965 shares in the company, valued at $36,867,735. This trade represents a 0.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Christian Kleinerman sold 861 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $165.31, for a total value of $142,331.91. Following the completion of the sale, the executive vice president now owns 582,930 shares of the company’s stock, valued at $96,364,158.30. This represents a 0.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 292,614 shares of company stock worth $48,389,953. 7.80% of the stock is currently owned by insiders.

Institutional Trading of Snowflake

Institutional investors and hedge funds have recently made changes to their positions in the company. Groupama Asset Managment purchased a new position in Snowflake during the 3rd quarter valued at about $25,000. Wellington Shields Capital Management LLC purchased a new position in Snowflake during the second quarter valued at approximately $27,000. V Square Quantitative Management LLC bought a new position in Snowflake in the third quarter worth approximately $30,000. Fortitude Family Office LLC purchased a new stake in Snowflake during the third quarter worth $34,000. Finally, Larson Financial Group LLC boosted its position in Snowflake by 81.3% during the 3rd 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 currently owned by institutional investors.

Snowflake Price Performance

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 firm has a market capitalization of $53.67 billion, a PE ratio of -47.96 and a beta of 1.03. The stock has a fifty day moving average price of $144.54 and a 200-day moving average price of $130.80.

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.