Snowflake (NYSE:SNOW) Trading Down 1.6% – Should You Sell?

Shares of Snowflake Inc. (NYSE:SNOW) dropped 1.6% on Monday . The company traded as low as $179.22 and last traded at $180.69. Approximately 2,144,868 shares changed hands during trading, a decline of 68% from the average daily volume of 6,793,408 shares. The stock had previously closed at $183.64.

Analysts Set New Price Targets

Several research firms have commented on SNOW. StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a research report on Thursday, November 28th. Monness Crespi & Hardt increased their target price on Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft increased their target price on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 target price on shares of Snowflake in a research report on Tuesday, November 19th. Finally, JMP Securities reiterated a “market outperform” rating and issued 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, ten have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $183.89.

Snowflake Stock Down 5.1 %

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 has a fifty day moving average price of $135.44 and a two-hundred day moving average price of $129.15. The company has a market cap of $56.63 billion, a P/E ratio of -50.60 and a beta of 1.03.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the sale, the executive vice president now directly owns 691,755 shares in the company, valued at approximately $124,515,900. This trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Benoit Dageville sold 1,946 shares of Snowflake stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the sale, the insider now owns 53,820 shares in the company, valued at $6,156,469.80. This trade represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 292,114 shares of company stock worth $47,587,279. 7.80% of the stock is owned by company insiders.

Institutional Trading of Snowflake

Hedge funds have recently made changes to their positions in the company. LRI Investments LLC raised its stake in shares of Snowflake by 155.6% in the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after buying an additional 112 shares during the period. Groupama Asset Managment purchased a new position in shares of Snowflake in the third quarter valued at $25,000. Wellington Shields Capital Management LLC purchased a new position in shares of Snowflake in the second quarter valued at $27,000. V Square Quantitative Management LLC purchased a new position in shares of Snowflake in the third quarter valued at $30,000. Finally, Fortitude Family Office LLC purchased a new position in shares of Snowflake in the third quarter valued at $34,000. 65.10% of the stock is currently owned by institutional investors.

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.