Snowflake (NYSE:SNOW) Upgraded at BTIG Research

BTIG Research upgraded shares of Snowflake (NYSE:SNOW) from a neutral rating to a buy rating in a research note released on Thursday, MarketBeat Ratings reports. BTIG Research currently has $220.00 target price on the stock.

A number of other equities analysts have also commented on SNOW. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a research note on Tuesday, February 18th. TD Cowen increased their price objective on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Wolfe Research upgraded shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective for the company in a research report on Tuesday, February 18th. Piper Sandler boosted their price objective on shares of Snowflake from $185.00 to $208.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, Jefferies Financial Group lifted their price target on shares of Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $193.43.

Snowflake Stock Performance

NYSE SNOW opened at $177.79 on Thursday. Snowflake has a 1-year low of $107.13 and a 1-year high of $235.66. The company has a 50 day moving average of $172.88 and a 200-day moving average of $143.96. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a market cap of $58.69 billion, a price-to-earnings ratio of -52.45 and a beta of 1.07.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 20,514 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $175.26, for a total value of $3,595,283.64. Following the sale, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $36,582,896.10. This represents a 8.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were 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 owns 552,930 shares of the company’s stock, valued at $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 394,345 shares of company stock worth $67,286,835 over the last ninety days. 7.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Snowflake

A number of institutional investors have recently bought and sold shares of SNOW. Stonebridge Financial Group LLC acquired a new position in shares of Snowflake during the 4th quarter worth approximately $29,000. West Paces Advisors Inc. bought a new position in Snowflake during the fourth quarter worth $31,000. Spurstone Advisory Services LLC acquired a new position in shares of Snowflake in the fourth quarter valued at $31,000. Colonial Trust Co SC bought a new position in shares of Snowflake in the fourth quarter valued at about $33,000. Finally, Quadrant Capital Group LLC lifted its stake in shares of Snowflake by 74.6% during the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company’s stock worth $33,000 after buying an additional 91 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

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.