UBS Group Raises Snowflake (NYSE:SNOW) Price Target to $200.00

Snowflake (NYSE:SNOW) had its price objective upped by stock analysts at UBS Group from $190.00 to $200.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price objective would suggest a potential upside of 13.15% from the company’s current price.

Several other analysts have also issued reports on SNOW. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a research report on Tuesday, February 18th. Royal Bank of Canada upped their price target on shares of Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a research report on Thursday. Wedbush set a $210.00 price target on shares of Snowflake in a research report on Wednesday, January 22nd. Piper Sandler upped their price target on shares of Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Jefferies Financial Group upped their price target on shares of Snowflake from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.92.

Snowflake Stock Up 1.8 %

Shares of NYSE:SNOW opened at $176.76 on Thursday. The firm has a fifty day moving average of $173.19 and a 200 day moving average of $145.51. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake has a 52-week low of $107.13 and a 52-week high of $194.40. The firm has a market capitalization of $58.35 billion, a PE ratio of -52.14 and a beta of 1.07.

Insider Activity

In other news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the sale, the executive vice president now owns 552,930 shares in the company, valued at $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frank Slootman sold 2,218 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $175.00, for a total transaction of $388,150.00. Following the sale, the director now owns 208,735 shares in the company, valued at approximately $36,528,625. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 312,193 shares of company stock worth $52,833,048 over the last 90 days. 7.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snowflake

A number of institutional investors have recently made changes to their positions in the company. Jennison Associates LLC grew its holdings in shares of Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock valued at $1,179,230,000 after buying an additional 3,662,671 shares during the last quarter. State Street Corp boosted its holdings 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 purchasing an additional 54,909 shares during the last quarter. Norges Bank purchased a new stake in Snowflake in the fourth quarter worth approximately $988,950,000. FMR LLC boosted its holdings in Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock worth $943,155,000 after purchasing an additional 2,805,425 shares during the last quarter. Finally, GQG Partners LLC purchased a new stake in Snowflake in the fourth quarter worth approximately $750,572,000. Hedge funds and other 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.