Snowflake Inc. (NYSE:SNOW - Get Free Report) fell 2.9% during trading on Monday . The stock traded as low as $161.16 and last traded at $161.43. 1,436,386 shares were traded during mid-day trading, a decline of 79% from the average session volume of 6,754,512 shares. The stock had previously closed at $166.29.
Several equities research analysts have issued reports on the stock. Rosenblatt Securities reiterated a "buy" rating and set a $180.00 price objective on shares of Snowflake in a research note on Tuesday, November 19th. Argus began coverage on shares of Snowflake in a research report on Tuesday, October 1st. They set a "hold" rating for the company. Jefferies Financial Group raised their price objective on Snowflake from $180.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, December 16th. Scotiabank increased their price objective on shares of Snowflake from $170.00 to $220.00 and gave the company a "sector outperform" rating in a research report on Monday, December 9th. Finally, Evercore ISI lifted their target price on Snowflake from $170.00 to $190.00 and gave the stock an "outperform" rating in a research report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $185.03.
Read Our Latest Analysis on Snowflake
The firm has a 50-day moving average of $143.77 and a 200 day moving average of $130.59. 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 stock has a market capitalization of $53.52 billion, a price-to-earnings ratio of -47.83 and a beta of 1.03.
In other Snowflake news, EVP Christian Kleinerman sold 558 shares of the company's stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total value of $99,882.00. Following the completion of the sale, the executive vice president now directly owns 690,647 shares in the company, valued at $123,625,813. This represents a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Christopher William Degnan sold 76,692 shares of Snowflake stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $168.42, for a total value of $12,916,466.64. Following the transaction, the executive now owns 346,741 shares in the company, valued at approximately $58,398,119.22. This trade represents a 18.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 291,753 shares of company stock worth $48,247,621 over the last ninety days. 7.80% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of SNOW. LRI Investments LLC boosted its position in shares of Snowflake by 155.6% in the second quarter. LRI Investments LLC now owns 184 shares of the company's stock worth $25,000 after buying an additional 112 shares during the period. Groupama Asset Managment acquired a new stake in shares of Snowflake during the third quarter worth approximately $25,000. Wellington Shields Capital Management LLC purchased a new position in Snowflake during the second quarter valued at approximately $27,000. V Square Quantitative Management LLC acquired a new position in Snowflake in the 3rd quarter valued at approximately $30,000. Finally, Fortitude Family Office LLC purchased a new stake in Snowflake in the 3rd quarter worth approximately $34,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Snowflake, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Snowflake wasn't on the list.
While Snowflake currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.