Snowflake (NYSE:SNOW) Shares Up 0.1% After Analyst Upgrade

Snowflake Inc. (NYSE:SNOW) traded up 0.1% during mid-day trading on Friday after KeyCorp raised their price target on the stock from $185.00 to $210.00. KeyCorp currently has an overweight rating on the stock. Snowflake traded as high as $186.90 and last traded at $183.17. 1,580,412 shares were traded during trading, a decline of 77% from the average session volume of 6,801,513 shares. The stock had previously closed at $183.06.

Other equities analysts have also issued research reports about the company. Scotiabank cut their target price on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 22nd. TD Cowen lifted their price objective on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Wells Fargo & Company increased their target price 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. Morgan Stanley reaffirmed an “equal weight” rating and set a $175.00 price target on shares of Snowflake in a research report on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.80.

Insider Activity at Snowflake

In other news, insider Benoit Dageville sold 1,946 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $114.39, for a total transaction of $222,602.94. Following the transaction, the insider now owns 53,820 shares of the company’s stock, valued at approximately $6,156,469.80. The trade was a 3.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the sale, the executive vice president now owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. The trade was a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 294,278 shares of company stock valued at $47,825,233. 7.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Independent Advisor Alliance raised its stake in shares of Snowflake by 15.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock valued at $468,000 after acquiring an additional 548 shares during the period. SG Americas Securities LLC raised its position in Snowflake by 77.0% in the second quarter. SG Americas Securities LLC now owns 133,186 shares of the company’s stock valued at $17,992,000 after purchasing an additional 57,960 shares during the period. Mather Group LLC. lifted its stake in Snowflake by 223.6% during the second quarter. Mather Group LLC. now owns 906 shares of the company’s stock worth $122,000 after purchasing an additional 626 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Snowflake by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,247,511 shares of the company’s stock valued at $143,289,000 after buying an additional 36,704 shares in the last quarter. Finally, Great Valley Advisor Group Inc. increased its stake in Snowflake by 74.6% during the second quarter. Great Valley Advisor Group Inc. now owns 11,799 shares of the company’s stock worth $1,594,000 after purchasing an additional 5,042 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Stock Up 0.1 %

The firm has a market cap of $61.40 billion, a PE ratio of -54.03 and a beta of 1.03. The business has a 50-day moving average price of $131.51 and a two-hundred day moving average price of $129.20. The company has a quick ratio of 1.58, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

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.