Snowflake (NYSE:SNOW) Trading Up 0.8% Following Analyst Upgrade

Snowflake Inc. (NYSE:SNOW)’s stock price was up 0.8% during 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. Approximately 731,616 shares were traded during trading, a decline of 89% from the average daily volume of 6,747,990 shares. The stock had previously closed at $161.44.

Several other research analysts also recently weighed in on SNOW. Needham & Company LLC boosted their target price on Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Wells Fargo & Company increased their price objective on shares of Snowflake from $125.00 to $150.00 and gave the company an “equal weight” rating in a research report on Thursday, November 21st. Oppenheimer restated an “outperform” rating and set a $180.00 price target on shares of Snowflake in a research note on Thursday, November 21st. Evercore ISI boosted their price objective on shares of Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, DA Davidson reaffirmed a “buy” rating and set a $175.00 price target on shares of Snowflake in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.03.

Insider Activity

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total value of $2,700,000.00. Following the transaction, the executive vice president now owns 691,755 shares in the company, valued at approximately $124,515,900. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frank Slootman sold 1,712 shares of Snowflake 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 sale, the director now directly owns 205,965 shares in the company, valued at approximately $36,867,735. This trade represents a 0.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 292,614 shares of company stock worth $48,389,953 over the last quarter. 7.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Ontario Teachers Pension Plan Board grew its position in shares of Snowflake by 19,399.2% in 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 purchasing an additional 2,559,144 shares in the last quarter. Two Sigma Advisers LP boosted its stake in Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after buying an additional 881,700 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Snowflake by 210.0% in the 2nd quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock worth $131,656,000 after acquiring an additional 660,168 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Snowflake by 471.9% during the 3rd quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock worth $87,489,000 after acquiring an additional 628,511 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in shares of Snowflake by 90.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,265,367 shares of the company’s stock valued at $170,938,000 after acquiring an additional 600,469 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Price Performance

The stock has a market cap of $53.67 billion, a PE ratio of -47.96 and a beta of 1.03. The stock’s fifty day moving average is $144.54 and its 200-day moving average is $130.80. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

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.