Snowflake (NYSE:SNOW) Price Target Raised to $160.00

Snowflake (NYSE:SNOW) had its price objective boosted by Wedbush from $130.00 to $160.00 in a research note published on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

SNOW has been the subject of a number of other reports. DA Davidson reaffirmed a “buy” rating and issued a $175.00 target price on shares of Snowflake in a research note on Thursday, October 3rd. JMP Securities cut their price objective on shares of Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 22nd. UBS Group decreased their price target on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday. One research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $180.23.

Snowflake Price Performance

Snowflake stock opened at $167.44 on Thursday. The business has a 50 day simple moving average of $120.06 and a 200 day simple moving average of $127.80. Snowflake has a one year low of $107.13 and a one year high of $237.72. The company has a market capitalization of $56.13 billion, a PE ratio of -49.39 and a beta of 0.83.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the transaction, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at $85,354,801.35. The trade was a 2.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Benoit Dageville sold 1,946 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total value of $222,602.94. Following the transaction, the insider now owns 53,820 shares in the company, valued at $6,156,469.80. The trade was a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,538 shares of company stock valued at $7,061,544 in the last ninety days. 7.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snowflake

Several institutional investors have recently bought and sold shares of SNOW. LRI Investments LLC lifted its holdings in Snowflake by 155.6% during the second quarter. LRI Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 112 shares during the last quarter. Groupama Asset Managment purchased a new position in shares of Snowflake in the third quarter worth about $25,000. Wellington Shields Capital Management LLC bought a new stake in Snowflake in the second quarter valued at approximately $27,000. V Square Quantitative Management LLC purchased a new stake in Snowflake during the 3rd quarter valued at $30,000. Finally, Fortitude Family Office LLC bought a new stake in shares of Snowflake in the 3rd quarter worth approximately $34,000. 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.