Snowflake (NYSE:SNOW) Price Target Raised to $200.00

Snowflake (NYSE:SNOW) had its price objective boosted by Needham & Company LLC from $160.00 to $200.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

SNOW has been the topic of several other research reports. UBS Group dropped their price objective on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Piper Sandler reissued an “overweight” rating and issued a $165.00 price target on shares of Snowflake in a report on Thursday, August 22nd. Citigroup lowered their price objective on Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a research note on Monday, November 18th. JMP Securities cut their target price on Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 22nd. Finally, Rosenblatt Securities restated a “buy” rating and set a $180.00 price target on shares of Snowflake in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $180.23.

Snowflake Price Performance

SNOW stock opened at $167.44 on Thursday. The firm has a market cap of $56.13 billion, a price-to-earnings ratio of -49.39 and a beta of 0.83. Snowflake has a 1-year low of $107.13 and a 1-year high of $237.72. The firm has a fifty day moving average price of $120.06 and a two-hundred day moving average price of $127.80.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 30,000 shares of Snowflake stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $120.00, for a total transaction of $3,600,000.00. Following the transaction, the executive vice president now owns 721,755 shares in the company, valued at approximately $86,610,600. The trade was a 3.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frank Slootman sold 1,606 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $176,595.76. Following the completion of the sale, the director now directly owns 218,246 shares of the company’s stock, valued at approximately $23,998,330.16. This represents a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,538 shares of company stock worth $7,061,544. Company insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Several institutional investors have recently made changes to their positions in the stock. LRI Investments LLC purchased a new stake in Snowflake in the 1st quarter worth approximately $29,000. Wellington Shields Capital Management LLC acquired a new position in shares of Snowflake in the second quarter worth $27,000. Groupama Asset Managment acquired a new position in shares of Snowflake in the third quarter worth $25,000. V Square Quantitative Management LLC purchased a new stake in shares of Snowflake during the third quarter worth $30,000. Finally, Global Financial Private Client LLC purchased a new position in Snowflake in the first quarter valued at about $44,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.