Snowflake (NYSE:SNOW) Price Target Raised to $228.00

Snowflake (NYSE:SNOW) had its price target increased by Cantor Fitzgerald from $201.00 to $228.00 in a report published on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Bank of America boosted their price target on shares of Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Rosenblatt Securities boosted their target price on Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday. Monness Crespi & Hardt raised their price target on Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday. Loop Capital boosted their price objective on Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $202.92.

Snowflake Stock Up 4.6 %

Shares of NYSE:SNOW opened at $173.78 on Thursday. The firm has a 50 day simple moving average of $172.98 and a 200-day simple moving average of $145.14. Snowflake has a twelve month low of $107.13 and a twelve month high of $233.88. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $57.36 billion, a PE ratio of -51.26 and a beta of 1.07.

Insider Buying and Selling at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the sale, the executive vice president now directly owns 552,930 shares in the company, valued at $103,121,445. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank Slootman sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the transaction, the director now owns 195,281 shares of the company’s stock, valued at $30,268,555. This trade represents a 33.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 312,193 shares of company stock valued at $52,833,048. Corporate 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 business. Groupama Asset Managment acquired a new position in shares of Snowflake during the 3rd quarter worth approximately $25,000. Stonebridge Financial Group LLC purchased a new position in Snowflake during the fourth quarter worth $29,000. West Paces Advisors Inc. purchased a new position in Snowflake during the fourth quarter worth $31,000. Spurstone Advisory Services LLC acquired a new position in shares of Snowflake in the fourth quarter worth $31,000. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Snowflake in the fourth quarter valued at $31,000. Hedge funds and other institutional investors 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.