Jefferies Financial Group Has Lowered Expectations for Snowflake (NYSE:SNOW) Stock Price

Snowflake (NYSE:SNOW) had its price objective decreased by Jefferies Financial Group from $220.00 to $190.00 in a research note issued to investors on Monday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

SNOW has been the subject of a number of other reports. Cantor Fitzgerald increased their target price on shares of Snowflake from $201.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Mizuho increased their price objective on shares of Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Citigroup boosted their target price on Snowflake from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Evercore ISI increased their price target on Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Piper Sandler lifted their price objective on Snowflake from $208.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Ten equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Snowflake presently has an average rating of “Moderate Buy” and an average price target of $203.05.

Snowflake Stock Up 3.1 %

Shares of SNOW opened at $154.23 on Monday. The stock has a 50 day moving average price of $170.55 and a 200 day moving average price of $152.08. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a market capitalization of $50.91 billion, a price-to-earnings ratio of -45.50 and a beta of 1.07. Snowflake has a one year low of $107.13 and a one year high of $194.40.

Insider Buying and Selling

In related news, Director Frank Slootman sold 127,247 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the completion of the transaction, the director now directly owns 195,281 shares of the company’s stock, valued at $34,418,276.25. The trade was a 39.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at $47,756,878.10. This represents a 50.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 491,186 shares of company stock valued at $82,353,709 in the last ninety days. Company insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Groupama Asset Managment purchased a new stake in shares of Snowflake in the 3rd quarter valued at approximately $25,000. Stonebridge Financial Group LLC acquired a new position in shares of Snowflake during the fourth quarter worth $29,000. West Paces Advisors Inc. acquired a new position in shares of Snowflake during the fourth quarter worth $31,000. Spurstone Advisory Services LLC purchased a new position in Snowflake in the fourth quarter valued at $31,000. Finally, Capital A Wealth Management LLC acquired a new stake in 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.