KeyCorp Cuts Snowflake (NYSE:SNOW) Price Target to $192.00

Snowflake (NYSE:SNOW) had its target price decreased by KeyCorp from $220.00 to $192.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 34.68% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Guggenheim reaffirmed a “neutral” rating on shares of Snowflake in a research report on Thursday, February 27th. Monness Crespi & Hardt lifted their price objective on shares of Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Wells Fargo & Company increased their price target on shares of Snowflake from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. UBS Group lifted their price objective on Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Finally, Wedbush set a $210.00 price target on shares of Snowflake in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $201.76.

Snowflake Trading Down 2.4 %

Shares of SNOW stock traded down $3.52 during trading hours on Thursday, reaching $142.56. 278,562 shares of the stock were exchanged, compared to its average volume of 5,720,979. The company’s 50-day moving average price is $160.73 and its 200-day moving average price is $153.93. The firm has a market capitalization of $47.06 billion, a price-to-earnings ratio of -42.05 and a beta of 1.13. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake has a 12-month low of $107.13 and a 12-month high of $194.40.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the transaction, the executive vice president now owns 552,930 shares in the company, valued at $103,121,445. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the sale, the director now owns 26,375 shares of the company’s stock, valued at approximately $3,408,968.75. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 491,589 shares of company stock valued at $82,405,796 in the last ninety days. Insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC grew its position in Snowflake by 19.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 19,630 shares of the company’s stock valued at $2,869,000 after buying an additional 3,240 shares during the last quarter. Prentice Wealth Management LLC acquired a new position in shares of Snowflake during the first quarter worth about $369,000. Ritholtz Wealth Management purchased a new position in Snowflake during the first quarter worth about $355,000. Dynamic Advisor Solutions LLC acquired a new stake in Snowflake in the first quarter valued at about $377,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Snowflake in the 1st quarter valued at approximately $26,000. 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.