Snowflake (NYSE:SNOW) Upgraded to “Hold” at Macquarie

Snowflake (NYSE:SNOW) was upgraded by stock analysts at Macquarie to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other research analysts have also weighed in on the company. Truist Financial decreased their target price on Snowflake from $225.00 to $210.00 and set a “buy” rating on the stock in a report on Monday. Royal Bank of Canada upped their price target on shares of Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. UBS Group boosted their price objective on Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. BTIG Research upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research note on Thursday, February 20th. Finally, Jefferies Financial Group dropped their price target on Snowflake from $220.00 to $190.00 and set a “buy” rating for the company in a report on Monday. Ten analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $203.05.

Snowflake Stock Performance

Shares of SNOW stock opened at $139.63 on Tuesday. 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 company has a fifty day moving average price of $169.85 and a two-hundred day moving average price of $152.00. The stock has a market cap of $46.09 billion, a P/E ratio of -41.19 and a beta of 1.13. Snowflake has a one year low of $107.13 and a one year high of $194.40.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 1,783 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $262,528.92. Following the completion of the transaction, the director now owns 192,511 shares in the company, valued at $28,345,319.64. This trade represents a 0.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the sale, the executive vice president now directly owns 552,930 shares in the company, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 491,186 shares of company stock worth $82,353,709 over the last quarter. 7.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Snowflake

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Stonebridge Financial Group LLC bought a new position in Snowflake in the fourth quarter valued at $29,000. West Paces Advisors Inc. purchased a new stake in shares of Snowflake during the fourth quarter valued at approximately $31,000. Spurstone Advisory Services LLC purchased a new stake in Snowflake during the 4th quarter valued at $31,000. Capital A Wealth Management LLC purchased a new stake in Snowflake in the fourth quarter worth about $31,000. Finally, Carolinas Wealth Consulting LLC bought a new position in shares of Snowflake in the 4th quarter worth approximately $32,000. 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.