Snowflake (NYSE:SNOW) Price Target Raised to $215.00

Snowflake (NYSE:SNOW) had its price target hoisted by Wells Fargo & Company from $210.00 to $215.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms have also issued reports on SNOW. Evercore ISI increased their target price on Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. BTIG Research raised Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a report on Thursday, February 20th. Needham & Company LLC raised their price objective on Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday. Wedbush set a $210.00 price objective on Snowflake in a research note on Wednesday, January 22nd. Finally, TD Cowen raised their price objective on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $202.92.

Snowflake Stock Performance

SNOW opened at $176.76 on Thursday. The firm has a market cap of $58.35 billion, a P/E ratio of -52.14 and a beta of 1.07. Snowflake has a 52-week low of $107.13 and a 52-week high of $194.40. 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 business’s fifty day moving average is $173.19 and its 200-day moving average is $145.64.

Insider Buying and Selling

In other news, Director Frank Slootman sold 100,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the transaction, the director now owns 195,281 shares in the company, valued at approximately $30,268,555. This represents a 33.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $174.06, for a total transaction of $2,224,834.92. Following the transaction, the executive now owns 323,731 shares in the company, valued at $56,348,617.86. This represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 312,193 shares of company stock valued at $52,833,048 over the last ninety days. 7.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Snowflake

Several institutional investors have recently made changes to their positions in the stock. Asset Dedication LLC raised its holdings in shares of Snowflake by 6.8% during the fourth quarter. Asset Dedication LLC now owns 922 shares of the company’s stock valued at $142,000 after purchasing an additional 59 shares during the period. Quarry LP raised its holdings in shares of Snowflake by 9.8% during the fourth quarter. Quarry LP now owns 662 shares of the company’s stock valued at $102,000 after purchasing an additional 59 shares during the period. Breakwater Capital Group raised its holdings in shares of Snowflake by 2.2% during the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock valued at $454,000 after purchasing an additional 62 shares during the period. Gabelli Funds LLC raised its holdings in shares of Snowflake by 3.3% in the 4th quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock worth $317,000 after acquiring an additional 65 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Snowflake by 0.6% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock worth $2,077,000 after acquiring an additional 69 shares during the last quarter. Institutional investors and hedge funds 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.