Snowflake (NYSE:SNOW) Given New $200.00 Price Target at Wells Fargo & Company

Snowflake (NYSE:SNOW) had its price target trimmed by Wells Fargo & Company from $225.00 to $200.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages also recently commented on SNOW. UBS Group increased their price objective on shares of Snowflake from $185.00 to $190.00 and gave the company a neutral rating in a research note on Thursday, May 23rd. Guggenheim upgraded shares of Snowflake from a sell rating to a neutral rating in a research report on Friday, March 15th. JMP Securities restated a market outperform rating and issued a $235.00 price target on shares of Snowflake in a research report on Tuesday, June 4th. Sanford C. Bernstein upped their price target on shares of Snowflake from $171.00 to $185.00 and gave the company a market perform rating in a research report on Thursday, May 23rd. Finally, Evercore ISI decreased their price target on shares of Snowflake from $250.00 to $225.00 and set an outperform rating for the company in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of Moderate Buy and a consensus target price of $198.64.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $127.84 on Friday. The company has a market cap of $42.80 billion, a price-to-earnings ratio of -45.66 and a beta of 0.85. The firm has a 50 day simple moving average of $147.69 and a 200 day simple moving average of $175.42. Snowflake has a one year low of $124.69 and a one year high of $237.72.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.40). The company had revenue of $828.71 million during the quarter, compared to the consensus estimate of $786.95 million. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. As a group, analysts expect that Snowflake will post -2.27 EPS for the current year.

Insider Buying and Selling at Snowflake

In other Snowflake news, insider Benoit Dageville sold 558 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total value of $71,596.98. Following the transaction, the insider now directly owns 63,222 shares of the company’s stock, valued at $8,112,014.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Michael L. Speiser purchased 76,200 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were bought at an average cost of $131.09 per share, with a total value of $9,989,058.00. Following the completion of the transaction, the director now directly owns 1,632,225 shares of the company’s stock, valued at $213,968,375.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Benoit Dageville sold 558 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total transaction of $71,596.98. Following the transaction, the insider now directly owns 63,222 shares in the company, valued at $8,112,014.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,862 shares of company stock valued at $5,895,712. Corporate insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Cigna Investments Inc. New lifted its position in shares of Snowflake by 1.6% during the fourth quarter. Cigna Investments Inc. New now owns 3,295 shares of the company’s stock valued at $656,000 after purchasing an additional 51 shares in the last quarter. E&G Advisors LP lifted its position in shares of Snowflake by 3.0% during the fourth quarter. E&G Advisors LP now owns 1,768 shares of the company’s stock valued at $352,000 after purchasing an additional 51 shares in the last quarter. Commerce Bank lifted its position in shares of Snowflake by 0.8% during the fourth quarter. Commerce Bank now owns 6,138 shares of the company’s stock valued at $1,221,000 after purchasing an additional 51 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Snowflake by 34.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 202 shares of the company’s stock valued at $40,000 after purchasing an additional 52 shares in the last quarter. Finally, Valley National Advisers Inc. increased its holdings in Snowflake by 18.1% during the fourth quarter. Valley National Advisers Inc. now owns 346 shares of the company’s stock worth $68,000 after buying an additional 53 shares during the last quarter. 65.10% of the stock is owned by 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.