Snowflake (NYSE:SNOW) Price Target Lowered to $210.00 at Truist Financial

Snowflake (NYSE:SNOW) had its price target reduced by Truist Financial from $225.00 to $210.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also weighed in on SNOW. Wedbush set a $210.00 price objective on Snowflake in a research note on Wednesday, January 22nd. Oppenheimer increased their price target on Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Jefferies Financial Group boosted their price objective on Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Mizuho raised their target price on shares of Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, KeyCorp boosted their price target on shares of Snowflake from $210.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, February 27th. Nine investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.83.

Snowflake Trading Down 2.9 %

Shares of NYSE:SNOW opened at $146.29 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a market capitalization of $48.29 billion, a price-to-earnings ratio of -43.15 and a beta of 1.07. Snowflake has a 1-year low of $107.13 and a 1-year high of $194.40. The company has a 50 day moving average price of $171.49 and a 200 day moving average price of $151.82.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 685 shares of Snowflake stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $100,859.40. Following the transaction, the executive vice president now directly owns 622,611 shares in the company, valued at approximately $91,673,243.64. The trade was a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the 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 sale, the chief financial officer now owns 292,610 shares of the company’s stock, valued at approximately $47,756,878.10. The trade was a 50.62 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 503,968 shares of company stock worth $84,363,550. 7.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Snowflake

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Groupama Asset Managment acquired a new stake in Snowflake in the 3rd quarter worth $25,000. Stonebridge Financial Group LLC acquired a new stake in Snowflake during the fourth quarter worth about $29,000. West Paces Advisors Inc. bought a new position in Snowflake during the fourth quarter valued at about $31,000. Spurstone Advisory Services LLC acquired a new position in Snowflake in the 4th quarter valued at approximately $31,000. Finally, Capital A Wealth Management LLC acquired a new position in Snowflake in the 4th quarter valued at approximately $31,000. Institutional investors 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.