Snowflake (NYSE:SNOW) Downgraded to “Sell” at StockNews.com

StockNews.com downgraded shares of Snowflake (NYSE:SNOW) from a hold rating to a sell rating in a research report report published on Friday morning.

Several other analysts have also commented on SNOW. Morgan Stanley reaffirmed an equal weight rating and issued a $175.00 price objective (down previously from $230.00) on shares of Snowflake in a research report on Thursday, February 29th. Guggenheim upgraded Snowflake from a sell rating to a neutral rating in a report on Friday, March 15th. Truist Financial lowered their target price on Snowflake from $250.00 to $210.00 and set a buy rating on the stock in a report on Thursday, February 29th. UBS Group raised their price objective on shares of Snowflake from $185.00 to $190.00 and gave the stock a neutral rating in a report on Thursday. Finally, Piper Sandler restated an overweight rating and issued a $240.00 target price on shares of Snowflake in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $200.64.

Snowflake Trading Up 1.0 %

Shares of Snowflake stock traded up $1.58 on Friday, hitting $156.16. 6,026,313 shares of the company traded hands, compared to its average volume of 4,735,169. The company has a market cap of $52.19 billion, a PE ratio of -55.77 and a beta of 0.90. Snowflake has a 52 week low of $138.40 and a 52 week high of $237.72. The stock’s 50 day moving average price is $157.03 and its 200-day moving average price is $180.17.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.05. Snowflake had a negative return on equity of 15.54% and a negative net margin of 30.80%. The firm had revenue of $774.70 million during the quarter, compared to analyst estimates of $759.86 million. As a group, research analysts anticipate that Snowflake will post -1.83 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total value of $241,725.00. Following the transaction, the executive vice president now owns 772,597 shares in the company, valued at approximately $124,504,006.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Benoit Dageville sold 689 shares of Snowflake stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $161.42, for a total value of $111,218.38. Following the completion of the transaction, the insider now owns 70,665 shares in the company, valued at $11,406,744.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christian Kleinerman sold 1,500 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total value of $241,725.00. Following the sale, the executive vice president now directly owns 772,597 shares of the company’s stock, valued at approximately $124,504,006.55. The disclosure for this sale can be found here. Insiders sold a total of 62,380 shares of company stock worth $9,803,625 in the last 90 days. 8.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Snowflake

A number of institutional investors have recently modified their holdings of SNOW. Cigna Investments Inc. New lifted its holdings in Snowflake by 1.6% in the fourth quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock worth $656,000 after acquiring an additional 51 shares during the last quarter. E&G Advisors LP boosted its stake in Snowflake by 3.0% during the fourth quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock worth $352,000 after acquiring an additional 51 shares in the last quarter. Commerce Bank grew its position in shares of Snowflake by 0.8% in the fourth quarter. Commerce Bank now owns 6,138 shares of the company’s stock valued at $1,221,000 after purchasing an additional 51 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Snowflake by 34.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock worth $40,000 after acquiring an additional 52 shares during the period. Finally, Valley National Advisers Inc. boosted its stake in shares of Snowflake by 18.1% during the 4th quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock worth $68,000 after acquiring an additional 53 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.