Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for Snowflake (NYSE:SNOW) Stock

Snowflake (NYSE:SNOW) had its price target hoisted by Deutsche Bank Aktiengesellschaft from $180.00 to $190.00 in a research note issued to investors on Thursday,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

Several other equities analysts have also issued reports on the company. Citigroup lowered their price target on Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a research report on Monday, November 18th. Argus initiated coverage on Snowflake in a research note on Tuesday, October 1st. They issued a “hold” rating for the company. Morgan Stanley restated an “equal weight” rating and set a $175.00 target price on shares of Snowflake in a research note on Thursday, August 22nd. Evercore ISI increased their target price on Snowflake from $170.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Stifel Nicolaus dropped their price target on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a research note on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $180.23.

Snowflake Trading Down 2.3 %

Snowflake stock opened at $167.44 on Thursday. The firm has a 50-day moving average of $120.06 and a 200-day moving average of $127.80. Snowflake has a 1-year low of $107.13 and a 1-year high of $237.72. The firm has a market cap of $56.13 billion, a P/E ratio of -49.39 and a beta of 0.83.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the transaction, the executive vice president now owns 706,755 shares in the company, valued at approximately $85,354,801.35. The trade was a 2.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frank Slootman sold 1,606 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the sale, the director now owns 218,246 shares in the company, valued at approximately $23,998,330.16. This trade represents a 0.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,538 shares of company stock worth $7,061,544. Company insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Institutional investors have recently bought and sold shares of the stock. Westside Investment Management Inc. boosted its holdings in shares of Snowflake by 47.4% in the 3rd quarter. Westside Investment Management Inc. now owns 12,344 shares of the company’s stock valued at $1,438,000 after purchasing an additional 3,971 shares during the last quarter. Rehmann Capital Advisory Group boosted its holdings in Snowflake by 10.9% in the third quarter. Rehmann Capital Advisory Group now owns 1,932 shares of the company’s stock valued at $222,000 after acquiring an additional 190 shares during the last quarter. Sunbelt Securities Inc. grew its position in Snowflake by 2.6% during the third quarter. Sunbelt Securities Inc. now owns 5,535 shares of the company’s stock valued at $636,000 after acquiring an additional 142 shares during the period. Toronto Dominion Bank increased its stake in Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after acquiring an additional 7,239 shares during the last quarter. Finally, Shaolin Capital Management LLC purchased a new position in shares of Snowflake in the 3rd quarter worth about $345,000. 65.10% of the stock is currently 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.