Snowflake (NYSE:SNOW - Free Report) had its price objective upped by Rosenblatt Securities from $210.00 to $250.00 in a report published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.
A number of other analysts also recently commented on the company. Royal Bank Of Canada upped their target price on Snowflake from $236.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Stephens assumed coverage on Snowflake in a research note on Friday, July 18th. They issued an "overweight" rating and a $261.00 target price on the stock. KeyCorp upped their target price on Snowflake from $250.00 to $275.00 and gave the stock an "overweight" rating in a research note on Thursday. Evercore ISI restated a "buy" rating on shares of Snowflake in a research note on Wednesday, June 4th. Finally, Oppenheimer restated an "outperform" rating on shares of Snowflake in a research note on Tuesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Snowflake presently has a consensus rating of "Moderate Buy" and a consensus price target of $255.53.
Check Out Our Latest Stock Analysis on Snowflake
Snowflake Stock Performance
Shares of SNOW traded down $2.32 during mid-day trading on Thursday, reaching $238.69. The company had a trading volume of 11,733,285 shares, compared to its average volume of 7,033,728. Snowflake has a 52-week low of $107.13 and a 52-week high of $249.99. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $79.69 billion, a P/E ratio of -57.51 and a beta of 1.22. The stock has a 50 day moving average of $211.41 and a two-hundred day moving average of $185.85.
Insider Transactions at Snowflake
In other Snowflake news, Director Frank Slootman sold 710,083 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the transaction, the director owned 165,507 shares in the company, valued at approximately $38,144,398.29. This represents a 81.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 3,216,909 shares of company stock worth $717,287,181 in the last quarter. Corporate insiders own 6.80% of the company's stock.
Hedge Funds Weigh In On Snowflake
Several hedge funds and other institutional investors have recently made changes to their positions in SNOW. Brighton Jones LLC lifted its position in shares of Snowflake by 90.0% in the fourth quarter. Brighton Jones LLC now owns 61,885 shares of the company's stock valued at $9,556,000 after acquiring an additional 29,320 shares in the last quarter. Northern Trust Corp lifted its position in shares of Snowflake by 18.0% in the fourth quarter. Northern Trust Corp now owns 2,141,468 shares of the company's stock valued at $330,664,000 after acquiring an additional 326,104 shares in the last quarter. Lido Advisors LLC lifted its position in shares of Snowflake by 0.5% in the fourth quarter. Lido Advisors LLC now owns 21,393 shares of the company's stock valued at $3,303,000 after acquiring an additional 103 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its position in shares of Snowflake by 335.2% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 49,259 shares of the company's stock valued at $7,606,000 after acquiring an additional 37,940 shares in the last quarter. Finally, Utah Retirement Systems lifted its position in shares of Snowflake by 0.3% in the fourth quarter. Utah Retirement Systems now owns 33,922 shares of the company's stock valued at $5,238,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 65.10% of the company's stock.
Snowflake Company Profile
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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.
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