Snowflake (NYSE:SNOW) Stock Price Up 1.7% on Analyst Upgrade

Snowflake Inc. (NYSE:SNOW)’s stock price traded up 1.7% on Monday after Jefferies Financial Group raised their price target on the stock from $180.00 to $200.00. Jefferies Financial Group currently has a buy rating on the stock. Snowflake traded as high as $173.40 and last traded at $170.52. 1,857,493 shares were traded during trading, a decline of 73% from the average session volume of 6,780,097 shares. The stock had previously closed at $167.67.

SNOW has been the subject of a number of other research reports. Barclays boosted their price objective on Snowflake from $172.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Monness Crespi & Hardt increased 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. Oppenheimer reissued an “outperform” rating and issued a $180.00 price objective on shares of Snowflake in a research note on Thursday, November 21st. Wells Fargo & Company increased their target price on Snowflake from $125.00 to $150.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Finally, Hsbc Global Res raised 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 given a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $184.46.

Insider Transactions at Snowflake

In other Snowflake news, Director Frank Slootman sold 6,251 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $715,051.89. Following the sale, the director now owns 208,735 shares in the company, valued at $23,877,196.65. This represents a 2.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Emily Ho sold 2,021 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $173.68, for a total value of $351,007.28. Following the transaction, the chief accounting officer now directly owns 26,874 shares of the company’s stock, valued at approximately $4,667,476.32. This represents a 6.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 294,384 shares of company stock worth $47,993,609. 7.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Snowflake by 0.8% during the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after purchasing an additional 54,909 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Snowflake by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock worth $475,894,000 after buying an additional 138,663 shares during the last quarter. Two Sigma Advisers LP boosted its position in shares of Snowflake by 27.9% during the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after acquiring an additional 881,700 shares in the last quarter. Ontario Teachers Pension Plan Board increased its holdings in shares of Snowflake by 19,399.2% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after acquiring an additional 2,559,144 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Snowflake by 11.5% during the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after acquiring an additional 223,936 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Price Performance

The stock has a market capitalization of $56.22 billion, a price-to-earnings ratio of -50.30 and a beta of 1.03. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a fifty day moving average of $138.94 and a 200-day moving average of $129.53.

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.