Snowflake (NYSE:SNOW) Price Target Raised to $221.00

Snowflake (NYSE:SNOW) had its price objective boosted by Royal Bank of Canada from $210.00 to $221.00 in a research report report published on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Canaccord Genuity Group lifted their target price on shares of Snowflake from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Citigroup increased their price target on shares of Snowflake from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Wedbush set a $210.00 price target on shares of Snowflake in a research report on Wednesday, January 22nd. JMP Securities reiterated a “market outperform” rating and issued a $190.00 price target on shares of Snowflake in a research report on Tuesday, December 3rd. Finally, Needham & Company LLC increased their price target on shares of Snowflake from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.92.

Snowflake Trading Up 1.8 %

NYSE:SNOW opened at $176.76 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake has a 12 month low of $107.13 and a 12 month high of $194.40. The company has a market cap of $58.35 billion, a PE ratio of -52.14 and a beta of 1.07. The company has a 50 day simple moving average of $173.19 and a two-hundred day simple moving average of $145.64.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now owns 691,755 shares in the company, valued at $124,515,900. The trade was a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frank Slootman sold 2,218 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $175.00, for a total transaction of $388,150.00. Following the transaction, the director now owns 208,735 shares in the company, valued at $36,528,625. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 312,193 shares of company stock worth $52,833,048 over the last quarter. Insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Snowflake in the fourth quarter worth about $24,081,000. Employees Retirement System of Texas grew its holdings in shares of Snowflake by 300.3% in the fourth quarter. Employees Retirement System of Texas now owns 43,235 shares of the company’s stock worth $6,676,000 after purchasing an additional 32,435 shares during the last quarter. Jefferies Financial Group Inc. grew its holdings in shares of Snowflake by 139.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 6,135 shares of the company’s stock worth $947,000 after purchasing an additional 3,577 shares during the last quarter. Carolinas Wealth Consulting LLC bought a new position in shares of Snowflake in the fourth quarter worth about $32,000. Finally, Capital A Wealth Management LLC purchased a new stake in Snowflake in the fourth quarter worth about $31,000. 65.10% of the stock is currently owned by institutional investors.

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.