Snowflake (NYSE:SNOW) Price Target Cut to $190.00 by Analysts at Jefferies Financial Group

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

SNOW has been the topic of a number of other research reports. BTIG Research raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price objective on the stock in a report on Thursday, February 20th. Stifel Nicolaus lifted their price target on shares of Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Oppenheimer upped their price objective on Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Royal Bank of Canada lifted their target price on Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Finally, Monness Crespi & Hardt upped their price target on Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Nine analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $203.83.

Snowflake Stock Performance

Shares of SNOW opened at $146.29 on Monday. Snowflake has a one year low of $107.13 and a one year high of $194.40. The business has a fifty day moving average of $171.49 and a 200 day moving average of $151.82. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market capitalization of $48.29 billion, a P/E ratio of -43.15 and a beta of 1.07.

Insider Transactions at Snowflake

In other Snowflake news, Director Frank Slootman sold 1,783 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $262,528.92. Following the transaction, the director now directly owns 192,511 shares in the company, valued at $28,345,319.64. This represents a 0.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 552,930 shares in the company, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 503,968 shares of company stock worth $84,363,550. 7.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SNOW. Jennison Associates LLC lifted its holdings in shares of Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after buying an additional 3,662,671 shares during the period. State Street Corp lifted its stake in Snowflake by 0.8% in the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after acquiring an additional 54,909 shares during the period. Norges Bank bought a new position in Snowflake during the 4th quarter worth about $988,950,000. FMR LLC grew its holdings in Snowflake by 84.9% during the 4th quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after acquiring an additional 2,805,425 shares in the last quarter. Finally, GQG Partners LLC purchased a new position in Snowflake during the 4th quarter valued at about $750,572,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Company Profile

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.