Snowflake (NYSE:SNOW) Given New $190.00 Price Target at Jefferies Financial Group

Snowflake (NYSE:SNOW) had its target price dropped by stock analysts at Jefferies Financial Group from $220.00 to $190.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 26.16% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Guggenheim restated a “neutral” rating on shares of Snowflake in a report on Thursday, February 27th. Barclays increased their target price on Snowflake from $190.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. KeyCorp increased their price objective on shares of Snowflake from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Wedbush set a $210.00 price target on shares of Snowflake in a research report on Wednesday, January 22nd. Finally, StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Nine research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $203.83.

Snowflake Price Performance

Snowflake stock opened at $150.60 on Monday. The company has a market cap of $49.71 billion, a P/E ratio of -44.42 and a beta of 1.07. Snowflake has a one year low of $107.13 and a one year high of $194.40. The business has a fifty day moving average of $171.99 and a two-hundred day moving average of $151.58. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Insider Activity at Snowflake

In related news, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 292,610 shares in the company, valued at approximately $47,756,878.10. This trade represents a 50.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $157.24, for a total value of $2,009,841.68. Following the transaction, the executive now owns 311,999 shares in the company, valued at $49,058,722.76. This represents a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 503,968 shares of company stock worth $84,363,550 in the last 90 days. 7.80% of the stock is owned by company insiders.

Institutional Trading of Snowflake

Several institutional investors have recently modified their holdings of SNOW. Norges Bank bought a new position in Snowflake in the fourth quarter worth $988,950,000. GQG Partners LLC acquired a new position in shares of Snowflake in the 4th quarter valued at $750,572,000. Jennison Associates LLC raised its stake in shares of Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after buying an additional 3,662,671 shares in the last quarter. FMR LLC boosted its position in shares of Snowflake by 84.9% during the 4th quarter. FMR LLC now owns 6,108,123 shares of the company’s stock valued at $943,155,000 after acquiring an additional 2,805,425 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Snowflake by 124.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company’s stock valued at $612,817,000 after acquiring an additional 2,200,406 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

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.