Snowflake (NYSE:SNOW) Given New $200.00 Price Target at Needham & Company LLC

Snowflake (NYSE:SNOW) had its price objective upped by Needham & Company LLC from $160.00 to $200.00 in a research report released on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on SNOW. Jefferies Financial Group reduced their target price on shares of Snowflake from $160.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. UBS Group lowered their target price on Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Hsbc Global Res upgraded Snowflake from a “moderate sell” rating to a “hold” rating in a research report on Friday, August 23rd. StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $165.00 target price on shares of Snowflake in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.23.

Snowflake Trading Down 2.3 %

Shares of NYSE:SNOW opened at $167.44 on Thursday. Snowflake has a 12 month low of $107.13 and a 12 month high of $237.72. The company has a market capitalization of $56.13 billion, a price-to-earnings ratio of -49.39 and a beta of 0.83. The firm’s 50-day moving average is $120.06 and its 200 day moving average is $127.80.

Insider Buying and Selling at Snowflake

In other news, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the sale, the director now owns 218,246 shares in the company, valued at $23,998,330.16. This represents a 0.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the transaction, the executive vice president now owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. The trade was a 0.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,538 shares of company stock worth $7,061,544 over the last three months. Insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SNOW. LRI Investments LLC purchased a new position in shares of Snowflake during the 1st quarter worth approximately $29,000. Wellington Shields Capital Management LLC purchased a new stake in Snowflake during the second quarter worth approximately $27,000. Groupama Asset Managment purchased a new stake in Snowflake during the 3rd quarter worth $25,000. V Square Quantitative Management LLC acquired a new stake in shares of Snowflake in the third quarter valued at about $30,000. Finally, Global Financial Private Client LLC purchased a new position in Snowflake in the 1st quarter worth approximately $44,000. 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.