Snowflake (NYSE:SNOW) Given New $235.00 Price Target at Citigroup

Snowflake (NYSE:SNOW) had its target price raised by Citigroup from $230.00 to $235.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

SNOW has been the topic of several other reports. Wedbush set a $210.00 price target on shares of Snowflake in a research report on Wednesday, January 22nd. UBS Group boosted their target price on shares of Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. Truist Financial cut their target price on shares of Snowflake from $225.00 to $210.00 and set a “buy” rating for the company in a research note on Monday. Piper Sandler lifted their price target on shares of Snowflake from $208.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Finally, Rosenblatt Securities increased their price objective on Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Nine research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $204.14.

Snowflake Stock Up 2.3 %

Shares of SNOW stock opened at $149.56 on Tuesday. Snowflake has a 1 year low of $107.13 and a 1 year high of $194.40. 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 business’s fifty day moving average is $171.02 and its 200-day moving average is $152.07. The stock has a market cap of $49.37 billion, a PE ratio of -44.12 and a beta of 1.07.

Insider Activity at Snowflake

In related news, 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 owns 292,610 shares in the company, valued at approximately $47,756,878.10. This trade represents a 50.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total value of $2,009,841.68. Following the sale, the executive now directly owns 311,999 shares in the company, valued at approximately $49,058,722.76. This trade represents a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 503,968 shares of company stock worth $84,363,550 in the last 90 days. 7.80% of the stock is owned by company insiders.

Institutional Trading of Snowflake

Institutional investors have recently modified their holdings of the company. Jennison Associates LLC lifted its position in Snowflake by 92.2% in the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after purchasing an additional 3,662,671 shares during the period. State Street Corp lifted its holdings in shares of Snowflake by 0.8% during the 3rd 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 acquired a new stake in shares of Snowflake during the 4th quarter valued at about $988,950,000. FMR LLC increased its stake in Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock valued at $943,155,000 after acquiring an additional 2,805,425 shares during the period. Finally, GQG Partners LLC acquired a new position in Snowflake in the fourth quarter worth about $750,572,000. Institutional investors and hedge funds 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.