KeyCorp Cuts Snowflake (NYSE:SNOW) Price Target to $150.00

Snowflake (NYSE:SNOW) had its price objective cut by KeyCorp from $168.00 to $150.00 in a report released on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also recently weighed in on SNOW. Monness Crespi & Hardt raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $140.00 price objective on the stock in a research note on Wednesday, November 6th. UBS Group decreased their price target on Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $175.00 price objective on shares of Snowflake in a research note on Thursday, August 22nd. HSBC raised shares of Snowflake from a “reduce” rating to a “hold” rating and increased their target price for the company from $119.00 to $121.00 in a research report on Friday, August 23rd. Finally, Bank of America dropped their price target on shares of Snowflake from $200.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $172.09.

Snowflake Trading Up 4.2 %

Snowflake stock opened at $130.68 on Monday. The company has a market capitalization of $43.80 billion, a PE ratio of -43.67 and a beta of 0.83. The stock has a 50-day moving average price of $115.64 and a two-hundred day moving average price of $128.89. Snowflake has a 12 month low of $107.13 and a 12 month high of $237.72.

Snowflake (NYSE:SNOW) last posted its earnings results on Wednesday, August 21st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. Snowflake had a negative net margin of 31.73% and a negative return on equity of 19.62%. The business had revenue of $868.80 million for the quarter, compared to the consensus estimate of $851.72 million. During the same period last year, the company earned ($0.52) EPS. The firm’s revenue was up 28.9% compared to the same quarter last year. As a group, analysts predict that Snowflake will post -2.41 earnings per share for the current fiscal year.

Insider Activity at Snowflake

In other Snowflake news, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the transaction, the director now directly owns 218,246 shares of the company’s stock, valued at $23,998,330.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the sale, the executive vice president now directly owns 706,755 shares in the company, valued at approximately $85,354,801.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frank Slootman sold 1,606 shares of the company’s 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 completion of the transaction, the director now owns 218,246 shares of the company’s stock, valued at $23,998,330.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 59,538 shares of company stock valued at $7,061,544. 7.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently made changes to their positions in SNOW. Vanguard Group Inc. raised its position in Snowflake by 1.4% in the first quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock worth $3,439,842,000 after acquiring an additional 297,428 shares during the period. Ontario Teachers Pension Plan Board lifted its stake in Snowflake by 19,399.2% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after purchasing an additional 2,559,144 shares during the last quarter. Legal & General Group Plc lifted its stake in Snowflake by 11.5% in the second quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock valued at $293,838,000 after purchasing an additional 223,936 shares during the last quarter. Swedbank AB purchased a new stake in Snowflake in the first quarter worth $258,957,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Snowflake by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 1,599,983 shares of the company’s stock valued at $216,142,000 after buying an additional 8,743 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

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.