Jefferies Financial Group Cuts Snowflake (NYSE:SNOW) Price Target to $190.00

Snowflake (NYSE:SNOW) had its target price lowered by Jefferies Financial Group from $220.00 to $190.00 in a report issued on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

SNOW has been the topic of a number of other reports. Scotiabank upped their price target on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. KeyCorp boosted their price objective on shares of Snowflake from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Wedbush set a $210.00 target price on shares of Snowflake in a research report on Wednesday, January 22nd. Citigroup lifted their price target on shares of Snowflake from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Finally, Stifel Nicolaus raised their price objective on Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Ten equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $203.05.

Snowflake Price Performance

SNOW opened at $154.23 on Monday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The business has a fifty day moving average of $170.55 and a 200 day moving average of $152.08. Snowflake has a 52-week low of $107.13 and a 52-week high of $194.40. The stock has a market cap of $50.91 billion, a P/E ratio of -45.50 and a beta of 1.07.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 7,908 shares of Snowflake stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $154.67, for a total transaction of $1,223,130.36. Following the completion of the transaction, the executive vice president now directly owns 600,632 shares in the company, valued at approximately $92,899,751.44. This trade represents a 1.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the transaction, the chief financial officer now directly owns 292,610 shares of the company’s stock, valued at $47,756,878.10. The trade was a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 491,186 shares of company stock valued at $82,353,709. 7.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Groupama Asset Managment purchased a new stake in shares of Snowflake in the third quarter valued at approximately $25,000. Stonebridge Financial Group LLC acquired a new stake in Snowflake in the 4th quarter valued at $29,000. West Paces Advisors Inc. purchased a new stake in Snowflake in the 4th quarter worth $31,000. Spurstone Advisory Services LLC acquired a new position in Snowflake during the fourth quarter worth $31,000. Finally, Capital A Wealth Management LLC acquired a new position in Snowflake during the fourth quarter worth $31,000. 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.