Snowflake (NYSE:SNOW) Stock Rating Upgraded by Wedbush

Wedbush upgraded shares of Snowflake (NYSE:SNOW) from a neutral rating to an outperform rating in a research report sent to investors on Monday morning, Marketbeat Ratings reports. Wedbush currently has $190.00 price objective on the stock.

A number of other equities analysts have also recently commented on SNOW. Piper Sandler reissued an “overweight” rating and set a $185.00 target price (up previously from $165.00) on shares of Snowflake in a report on Thursday, November 21st. Robert W. Baird reduced their price objective on Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Jefferies Financial Group lifted their target price on shares of Snowflake from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Oppenheimer reiterated an “outperform” rating and issued a $180.00 target price on shares of Snowflake in a research report on Thursday, November 21st. Finally, Hsbc Global Res upgraded shares of Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $181.09.

Snowflake Stock Up 1.4 %

SNOW opened at $173.70 on Monday. The company has a market cap of $58.22 billion, a PE ratio of -51.24 and a beta of 0.83. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72. The company has a 50-day moving average price of $124.88 and a 200 day moving average price of $128.64.

Insider Buying and Selling

In related news, CAO Emily Ho sold 2,021 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $173.68, for a total transaction of $351,007.28. Following the sale, the chief accounting officer now directly owns 26,874 shares in the company, valued at approximately $4,667,476.32. This represents a 6.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the transaction, the director now owns 218,246 shares of the company’s stock, valued at $23,998,330.16. This represents a 0.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 204,661 shares of company stock valued at $32,004,752 in the last ninety days. Company insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Large investors have recently modified their holdings of the company. LRI Investments LLC raised its position in shares of Snowflake by 155.6% during the 2nd quarter. LRI Investments LLC now owns 184 shares of the company’s stock worth $25,000 after acquiring an additional 112 shares in the last quarter. Groupama Asset Managment purchased a new position in Snowflake in the third quarter valued at approximately $25,000. Wellington Shields Capital Management LLC acquired a new stake in Snowflake during the second quarter worth approximately $27,000. V Square Quantitative Management LLC purchased a new stake in shares of Snowflake during the 3rd quarter worth approximately $30,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Snowflake in the 3rd quarter valued at $34,000. 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.