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Wells Fargo Downgrades, Buffett Sells Snowflake Stock
SNOWSnowflake(SNOW) Schaeffers Investment Research·2024-08-15 21:06

Snowflake Inc (NYSE:SNOW) stock is down 3.9% before the bell, after a bear note from Wells Fargo. The analyst downgraded shares of the cloud computing company to "equal weight" from "overweight" and lowered its price target from 200to200 to 130, citing multiple headwinds.Separately, Warren Buffett's Berkshire Hathaway (BRK), sold the entirety of its stake in Snowflake. That equated to 6.1 million shares, or around $910 million.When we last covered SNOW in July, a historically bearish signal threatened to press ...