Snowflake (NYSE:SNOW) Stock Price Down 2.8% – Should You Sell?

Snowflake Inc. (NYSE:SNOW) fell 2.8% during mid-day trading on Tuesday . The stock traded as low as $175.34 and last traded at $175.64. 2,161,055 shares were traded during trading, a decline of 68% from the average session volume of 6,793,274 shares. The stock had previously closed at $180.76.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Scotiabank lifted their target price on Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research report on Monday. Mizuho boosted their target price on shares of Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Citigroup reduced their price target on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and lifted their price target for the company from $119.00 to $121.00 in a report on Friday, August 23rd. Finally, Canaccord Genuity Group cut their target price on shares of Snowflake from $215.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $183.89.

Snowflake Price Performance

The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock’s fifty day simple moving average is $134.22 and its 200-day simple moving average is $129.04. The company has a market capitalization of $56.07 billion, a P/E ratio of -51.81 and a beta of 1.03.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the completion of the transaction, the executive vice president now owns 691,755 shares of the company’s stock, valued at approximately $124,515,900. This represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank Slootman sold 6,251 shares of the company’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 $715,051.89. Following the transaction, the director now directly owns 208,735 shares of the company’s stock, valued at $23,877,196.65. This represents a 2.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 292,114 shares of company stock worth $47,587,279 over the last ninety days. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC grew its stake in Snowflake by 3.8% during the second quarter. Sequoia Financial Advisors LLC now owns 4,081 shares of the company’s stock worth $551,000 after buying an additional 148 shares during the last quarter. Wedmont Private Capital bought a new stake in Snowflake during the second quarter worth about $453,000. Great Valley Advisor Group Inc. grew its stake in shares of Snowflake by 74.6% during the second quarter. Great Valley Advisor Group Inc. now owns 11,799 shares of the company’s stock valued at $1,594,000 after purchasing an additional 5,042 shares during the last quarter. Deltec Asset Management LLC bought a new stake in shares of Snowflake during the second quarter valued at approximately $3,208,000. Finally, ORG Partners LLC grew its stake in shares of Snowflake by 20,227.3% during the second quarter. ORG Partners LLC now owns 2,236 shares of the company’s stock valued at $319,000 after purchasing an additional 2,225 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

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.