Snowflake (NYSE:SNOW) Price Target Raised to $220.00

Snowflake (NYSE:SNOW) had its price target raised by Jefferies Financial Group from $200.00 to $220.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also issued reports on SNOW. Barclays upgraded shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research report on Friday, January 10th. TD Cowen upped their price objective on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Oppenheimer lifted their target price on Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. Truist Financial reaffirmed a “buy” rating and set a $210.00 price target on shares of Snowflake in a research note on Thursday, November 21st. Finally, Wedbush upgraded Snowflake from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $192.89.

Snowflake Stock Down 3.9 %

Shares of NYSE SNOW opened at $177.79 on Friday. Snowflake has a 12-month low of $107.13 and a 12-month high of $235.66. The firm’s 50-day simple moving average is $172.88 and its 200 day simple moving average is $143.76. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market cap of $58.69 billion, a price-to-earnings ratio of -52.45 and a beta of 1.07.

Insider Transactions at Snowflake

In other news, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total value of $99,882.00. Following the sale, the executive vice president now directly owns 690,647 shares of the company’s stock, valued at approximately $123,625,813. This represents a 0.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Slootman sold 20,514 shares of Snowflake stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $175.26, for a total value of $3,595,283.64. Following the transaction, the director now owns 208,735 shares of the company’s stock, valued at $36,582,896.10. The trade was a 8.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 394,345 shares of company stock worth $67,286,835 in the last 90 days. Corporate insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Jennison Associates LLC boosted its position in Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after purchasing an additional 3,662,671 shares during the period. State Street Corp lifted its stake in shares of Snowflake by 0.8% during the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after buying an additional 54,909 shares during the last quarter. Norges Bank bought a new stake in shares of Snowflake during the 4th quarter worth about $988,950,000. FMR LLC grew its stake in Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company’s stock valued at $943,155,000 after buying an additional 2,805,425 shares during the last quarter. Finally, GQG Partners LLC bought a new position in Snowflake in the 4th quarter valued at about $750,572,000. 65.10% of the stock is owned by institutional investors and hedge funds.

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.