Snowflake (NYSE:SNOW) Price Target Raised to $230.00 at Citigroup

Snowflake (NYSE:SNOW) had its price objective lifted by Citigroup from $225.00 to $230.00 in a report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently issued reports on the company. Wolfe Research raised Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective on the stock in a report on Tuesday, February 18th. Wedbush set a $210.00 price target on shares of Snowflake in a report on Wednesday, January 22nd. Evercore ISI boosted their price objective on shares of Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Bank of America upped their target price on shares of Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Finally, KeyCorp raised their price target on shares of Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $196.19.

Snowflake Trading Down 4.0 %

Shares of SNOW stock opened at $164.14 on Tuesday. 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 firm has a market cap of $54.18 billion, a P/E ratio of -48.42 and a beta of 1.07. The company has a 50 day moving average of $172.71 and a 200-day moving average of $144.79. Snowflake has a 12-month low of $107.13 and a 12-month high of $235.66.

Insider Activity

In related news, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total value of $99,882.00. Following the completion of the transaction, the executive vice president now directly owns 690,647 shares of the company’s stock, valued at approximately $123,625,813. This trade represents a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Slootman sold 59,617 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $176.25, for a total value of $10,507,496.25. Following the completion of the sale, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $36,789,543.75. The trade was a 22.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 371,810 shares of company stock worth $63,340,544. Corporate insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Institutional investors have recently modified their holdings of the stock. Stonebridge Financial Group LLC acquired a new position in Snowflake during the 4th quarter worth approximately $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 bought a new position in shares of Snowflake in the 4th quarter valued at $31,000. Colonial Trust Co SC acquired a new stake in shares of Snowflake during the 4th quarter valued at $33,000. Finally, Quadrant Capital Group LLC grew its position in Snowflake by 74.6% during the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company’s stock worth $33,000 after acquiring an additional 91 shares during the last quarter. 65.10% of the stock is currently 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.