Snowflake (NYSE:SNOW) Upgraded by Wells Fargo & Company to “Overweight” Rating

Wells Fargo & Company upgraded shares of Snowflake (NYSE:SNOW) from an equal weight rating to an overweight rating in a research note released on Tuesday, Marketbeat reports. They currently have $200.00 price objective on the stock, up from their previous price objective of $150.00.

Other equities research analysts have also issued research reports about the stock. UBS Group decreased their target price 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. Evercore ISI boosted their target price on Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Jefferies Financial Group lifted their price target on Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 16th. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 price target on shares of Snowflake in a research note on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $187.11.

Snowflake Trading Down 2.6 %

NYSE:SNOW opened at $158.85 on Tuesday. The stock has a market cap of $52.44 billion, a PE ratio of -46.86 and a beta of 1.05. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock’s 50-day moving average is $153.71 and its two-hundred day moving average is $133.22.

Insider Buying and Selling

In related news, Director Frank Slootman sold 45,896 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the transaction, the director now owns 208,735 shares in the company, valued at $36,749,884.10. The trade was a 18.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total transaction of $99,882.00. Following the completion of the sale, the executive vice president now owns 690,647 shares in the company, valued at approximately $123,625,813. This trade represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 406,904 shares of company stock worth $66,145,855. Corporate insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

A number of institutional investors and hedge funds have recently made changes to their positions in SNOW. Ontario Teachers Pension Plan Board boosted its position in shares of Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after buying an additional 2,559,144 shares during the last quarter. Two Sigma Advisers LP raised its stake in 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 during the period. AQR Capital Management LLC boosted its position in shares of Snowflake by 210.0% in the second quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock worth $131,656,000 after purchasing an additional 660,168 shares during the period. SG Americas Securities LLC raised its position in shares of Snowflake by 471.9% during the third quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock valued at $87,489,000 after buying an additional 628,511 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in Snowflake by 90.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock worth $170,938,000 after purchasing an additional 600,469 shares in the last quarter. 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.