DA Davidson Lowers Snowflake (NYSE:SNOW) Price Target to $200.00

Snowflake (NYSE:SNOW - Free Report) had its price objective decreased by DA Davidson from $225.00 to $200.00 in a research note issued to investors on Monday morning,Benzinga reports. DA Davidson currently has a buy rating on the stock.

SNOW has been the subject of several other reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $183.00 price objective on shares of Snowflake in a research note on Wednesday, April 2nd. UBS Group lifted their price target on Snowflake from $190.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday, February 27th. Rosenblatt Securities raised their price target on shares of Snowflake from $186.00 to $205.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Citigroup raised their price objective on Snowflake from $230.00 to $235.00 and gave the company a "buy" rating in a report on Tuesday, April 1st. Finally, Daiwa America upgraded shares of Snowflake to a "strong-buy" rating in a research report on Tuesday, April 1st. Ten investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $201.76.

Snowflake Stock Down 1.9 %

NYSE:SNOW traded down $2.74 during trading hours on Monday, reaching $143.34. The company's stock had a trading volume of 2,483,780 shares, compared to its average volume of 6,421,229. Snowflake has a 12 month low of $107.13 and a 12 month high of $194.40. The stock has a 50 day moving average price of $159.07 and a two-hundred day moving average price of $154.35. The company has a market capitalization of $47.32 billion, a P/E ratio of -42.28 and a beta of 1.13. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction dated 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 owns 552,930 shares of the company's stock, valued at $103,121,445. This trade 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 this link. Also, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the sale, the chief financial officer now directly owns 292,610 shares of the company's stock, valued at $47,756,878.10. The trade was a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 491,589 shares of company stock valued at $82,405,796. 7.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snowflake

Several large investors have recently modified their holdings of SNOW. Orion Portfolio Solutions LLC raised its position in Snowflake by 11.8% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 5,071 shares of the company's stock worth $582,000 after buying an additional 536 shares during the last quarter. Westside Investment Management Inc. raised its holdings in Snowflake by 47.4% during the third quarter. Westside Investment Management Inc. now owns 12,344 shares of the company's stock worth $1,438,000 after purchasing an additional 3,971 shares in the last quarter. Sanctuary Advisors LLC lifted its position in Snowflake by 2.1% in the third quarter. Sanctuary Advisors LLC now owns 25,328 shares of the company's stock valued at $2,909,000 after purchasing an additional 514 shares during the period. Wilmington Savings Fund Society FSB boosted its holdings in Snowflake by 50.3% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,659 shares of the company's stock valued at $535,000 after purchasing an additional 1,559 shares in the last quarter. Finally, Blankinship & Foster LLC purchased a new position in shares of Snowflake during the 3rd quarter worth approximately $896,000. 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.