UBS Group Cuts Snowflake (NYSE:SNOW) Price Target to $125.00

Snowflake (NYSE:SNOW) had its price objective reduced by UBS Group from $155.00 to $125.00 in a research report released on Tuesday morning, Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other research firms have also recently weighed in on SNOW. Morgan Stanley reaffirmed an equal weight rating and issued a $175.00 price objective on shares of Snowflake in a report on Thursday, August 22nd. Jefferies Financial Group reduced their price target on Snowflake from $160.00 to $145.00 and set a buy rating for the company in a report on Thursday, August 22nd. Scotiabank dropped their price objective on Snowflake from $195.00 to $165.00 and set a sector outperform rating on the stock in a report on Thursday, August 22nd. Evercore ISI cut their price objective on Snowflake from $225.00 to $170.00 and set an outperform rating for the company in a research report on Monday, August 19th. Finally, Hsbc Global Res upgraded Snowflake from a moderate sell rating to a hold rating in a research report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $175.17.

Snowflake Stock Up 1.3 %

Shares of SNOW opened at $113.93 on Tuesday. The company has a market capitalization of $38.14 billion, a price-to-earnings ratio of -40.69 and a beta of 0.83. Snowflake has a 52 week low of $107.13 and a 52 week high of $237.72. The stock’s 50-day moving average price is $118.88 and its 200-day moving average price is $137.73.

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

Insider Buying and Selling

In other Snowflake news, insider Benoit Dageville sold 1,946 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the transaction, the insider now directly owns 53,820 shares in the company, valued at $6,156,469.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Benoit Dageville sold 1,946 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the sale, the insider now owns 53,820 shares in the company, valued at approximately $6,156,469.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $2,144,700.00. Following the transaction, the executive vice president now owns 733,773 shares of the company’s stock, valued at $104,914,863.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,386 shares of company stock valued at $5,715,941. Company insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several large investors have recently added to or reduced their stakes in the business. Cavalry Management Group LLC acquired a new position in shares of Snowflake in the second quarter worth $430,000. Centaurus Financial Inc. grew its stake in Snowflake by 76.8% during the 2nd quarter. Centaurus Financial Inc. now owns 6,577 shares of the company’s stock worth $888,000 after purchasing an additional 2,856 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Snowflake by 5,565.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 121,800 shares of the company’s stock worth $16,454,000 after purchasing an additional 119,650 shares during the period. Newbridge Financial Services Group Inc. raised its position in Snowflake by 27.6% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 3,342 shares of the company’s stock valued at $451,000 after purchasing an additional 722 shares in the last quarter. Finally, Heritage Wealth Management Inc. purchased a new position in shares of Snowflake in the 2nd quarter valued at about $530,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

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.