Snowflake (NYSE:SNOW) Price Target Raised to $220.00

Snowflake (NYSE:SNOW) had its price objective boosted by Canaccord Genuity Group from $190.00 to $220.00 in a research note released on Tuesday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other research analysts also recently issued reports on SNOW. 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. JMP Securities reaffirmed a “market outperform” rating and set a $190.00 target price on shares of Snowflake in a report on Tuesday, December 3rd. Needham & Company LLC boosted their price objective on Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a research report on Tuesday, February 18th. Finally, Wolfe Research upgraded shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 target price on the stock in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $196.19.

Snowflake Stock Down 4.0 %

Shares of SNOW opened at $164.14 on Tuesday. The firm has a 50 day simple moving average of $172.71 and a two-hundred day simple moving average of $144.79. The company has a market cap of $54.18 billion, a P/E ratio of -48.42 and a beta of 1.07. Snowflake has a one year low of $107.13 and a one year high of $235.66. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 127,247 shares of Snowflake stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the completion of the transaction, the director now directly owns 195,281 shares in the company, valued at approximately $34,418,276.25. This trade represents a 39.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction 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 of the company’s stock, valued at approximately $123,625,813. The trade was a 0.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 371,810 shares of company stock worth $63,340,544. 7.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SNOW. Stonebridge Financial Group LLC bought a new position in shares of Snowflake in the fourth quarter worth about $29,000. West Paces Advisors Inc. purchased a new stake in Snowflake in the 4th quarter worth $31,000. Spurstone Advisory Services LLC purchased a new position in Snowflake during the 4th quarter valued at approximately $31,000. Colonial Trust Co SC purchased a new position in shares of Snowflake in the fourth quarter valued at $33,000. Finally, Quadrant Capital Group LLC increased its holdings in shares of Snowflake by 74.6% in the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company’s stock worth $33,000 after buying an additional 91 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

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.