Snowflake (NYSE:SNOW) Given New $205.00 Price Target at Mizuho

Snowflake (NYSE:SNOW) had its target price boosted by Mizuho from $195.00 to $205.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

SNOW has been the subject of a number of other research reports. StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Citigroup dropped their target price on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a research report on Monday, November 18th. Piper Sandler boosted their price target on shares of Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Loop Capital raised their price objective on shares of Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Finally, Royal Bank of Canada upped their target price on Snowflake from $175.00 to $188.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $187.63.

Snowflake Stock Up 2.2 %

NYSE SNOW opened at $187.56 on Wednesday. Snowflake has a 1 year low of $107.13 and a 1 year high of $236.33. The stock has a market capitalization of $61.91 billion, a PE ratio of -55.33 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The business’s 50-day moving average is $171.21 and its 200 day moving average is $140.48.

Insider Activity

In related news, Director Frank Slootman sold 45,896 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the completion of the transaction, the director now directly owns 208,735 shares in the company, valued at approximately $36,749,884.10. The trade was a 18.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total transaction of $99,882.00. Following the sale, the executive vice president now owns 690,647 shares in the company, valued at approximately $123,625,813. The trade was a 0.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 516,933 shares of company stock valued at $88,283,752 in the last 90 days. Company insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Several institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank bought a new position in Snowflake in the 4th quarter worth $988,950,000. GQG Partners LLC bought a new position in shares of Snowflake in the fourth quarter worth about $750,572,000. Jennison Associates LLC raised its stake in Snowflake by 92.2% during the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after purchasing an additional 3,662,671 shares during the period. Ontario Teachers Pension Plan Board lifted its holdings in Snowflake by 19,399.2% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after purchasing an additional 2,559,144 shares in the last quarter. Finally, Groupama Asset Managment boosted its stake in Snowflake by 930,132.6% in the 4th quarter. Groupama Asset Managment now owns 2,000,000 shares of the company’s stock worth $308,820,000 after purchasing an additional 1,999,785 shares during the period. 65.10% of the stock is currently owned by 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.