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

Macquarie upgraded shares of Snowflake (NYSE:SNOW) to a hold rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Mizuho boosted their target price on Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Loop Capital boosted their price objective on Snowflake from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Monness Crespi & Hardt upped their price objective on Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Rosenblatt Securities lifted their target price on Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Finally, Oppenheimer increased their price target on shares of Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Ten investment 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’s stock. Based on data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $203.05.

Snowflake Stock Down 9.3 %

Snowflake stock opened at $139.63 on Tuesday. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The firm’s 50-day simple moving average is $169.85 and its 200 day simple moving average is $152.00. The stock has a market cap of $46.09 billion, a PE ratio of -41.19 and a beta of 1.13.

Insider Buying and Selling at Snowflake

In other news, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the sale, the chief financial officer now owns 292,610 shares of the company’s stock, valued at approximately $47,756,878.10. This represents a 50.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 127,247 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the completion of the transaction, the director now owns 195,281 shares in the company, valued at $34,418,276.25. This represents a 39.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 491,186 shares of company stock worth $82,353,709 over the last three months. Company insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Several large investors have recently modified their holdings of SNOW. Stonebridge Financial Group LLC purchased a new stake in Snowflake in the 4th quarter worth approximately $29,000. West Paces Advisors Inc. bought a new position in shares of Snowflake during the fourth quarter valued at approximately $31,000. Spurstone Advisory Services LLC purchased a new stake in Snowflake in the fourth quarter worth $31,000. Capital A Wealth Management LLC bought a new stake in Snowflake in the fourth quarter valued at $31,000. Finally, Carolinas Wealth Consulting LLC purchased a new position in Snowflake during the 4th quarter valued at $32,000. 65.10% of the stock is owned by 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.