Snowflake (NYSE:SNOW) Price Target Raised to $190.00

Snowflake (NYSE:SNOW) had its price objective increased by UBS Group from $155.00 to $190.00 in a research report sent to investors on Wednesday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other equities research analysts also recently issued reports on SNOW. JMP Securities restated a “market outperform” rating and set a $190.00 price objective on shares of Snowflake in a research report on Tuesday, December 3rd. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research report on Tuesday. Wolfe Research upgraded shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective for the company in a research report on Tuesday. TD Cowen raised their price objective on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Scotiabank raised their target price on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $192.89.

Snowflake Trading Down 3.9 %

Shares of SNOW stock opened at $177.79 on Wednesday. The firm has a 50 day moving average price of $172.88 and a two-hundred day moving average price of $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 capitalization of $58.69 billion, a PE ratio of -52.45 and a beta of 1.07. Snowflake has a 12-month low of $107.13 and a 12-month high of $235.66.

Insider Transactions at Snowflake

In other news, CAO Emily Ho sold 2,021 shares of Snowflake stock in a transaction on Monday, November 25th. The shares were sold at an average price of $173.68, for a total transaction of $351,007.28. Following the transaction, the chief accounting officer now owns 26,874 shares in the company, valued at approximately $4,667,476.32. The trade was a 6.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction 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 approximately $103,121,445. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 394,345 shares of company stock worth $67,286,835. Company insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Several hedge funds and other institutional investors have recently bought and sold shares of SNOW. Norges Bank acquired a new position in Snowflake in the fourth quarter valued at $988,950,000. GQG Partners LLC acquired a new position in Snowflake in the fourth quarter valued at $750,572,000. Jennison Associates LLC lifted its holdings in Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after buying an additional 3,662,671 shares during the period. FMR LLC lifted its holdings in Snowflake by 84.9% in the fourth 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 period. Finally, Ontario Teachers Pension Plan Board lifted its holdings in Snowflake by 19,399.2% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after buying an additional 2,559,144 shares during the period. 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.