Snowflake (NYSE:SNOW) Price Target Raised to $215.00

Snowflake (NYSE:SNOW - Get Free Report) had its target price boosted by stock analysts at Robert W. Baird from $200.00 to $215.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Robert W. Baird's target price indicates a potential upside of 7.67% from the stock's previous close.

SNOW has been the topic of a number of other research reports. Guggenheim reissued a "neutral" rating on shares of Snowflake in a research note on Thursday, February 27th. Evercore ISI lifted their price objective on shares of Snowflake from $200.00 to $232.00 and gave the stock an "outperform" rating in a research note on Thursday. HSBC downgraded shares of Snowflake from a "hold" rating to a "sell" rating in a research note on Thursday. Wedbush set a $210.00 price objective on Snowflake in a research note on Wednesday, January 22nd. Finally, Needham & Company LLC increased their price target on Snowflake from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $213.00.

Snowflake Trading Up 11.5%

NYSE:SNOW traded up $20.57 on Thursday, hitting $199.69. 14,117,744 shares of the stock were exchanged, compared to its average volume of 6,471,337. Snowflake has a 52 week low of $107.13 and a 52 week high of $201.10. The company's 50-day moving average price is $157.35 and its 200 day moving average price is $162.37. 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 stock has a market capitalization of $65.92 billion, a price-to-earnings ratio of -58.85 and a beta of 1.11.

Insiders Place Their Bets

In related news, Director Frank Slootman sold 7,016 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $155.69, for a total value of $1,092,321.04. Following the transaction, the director now directly owns 182,999 shares in the company, valued at $28,491,114.31. This trade represents a 3.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total transaction of $2,576,250.00. Following the transaction, the executive vice president now owns 594,975 shares of the company's stock, valued at $102,186,956.25. This represents a 2.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 356,963 shares of company stock worth $58,204,058. Company insiders own 7.80% of the company's stock.

Hedge Funds Weigh In On Snowflake

Hedge funds have recently added to or reduced their stakes in the stock. Merit Financial Group LLC bought a new position in shares of Snowflake in the fourth quarter valued at approximately $493,000. HB Wealth Management LLC bought a new stake in Snowflake during the fourth quarter worth $397,000. Harbor Investment Advisory LLC raised its position in Snowflake by 85.1% in the 4th quarter. Harbor Investment Advisory LLC now owns 435 shares of the company's stock valued at $67,000 after buying an additional 200 shares during the last quarter. Ballentine Partners LLC bought a new position in Snowflake during the 4th quarter valued at $208,000. Finally, Fort Washington Investment Advisors Inc. OH lifted its stake in Snowflake by 34.8% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 19,462 shares of the company's stock valued at $3,005,000 after acquiring an additional 5,022 shares in the last quarter. 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.

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