Needham & Company LLC Issues Positive Forecast for Snowflake (NYSE:SNOW) Stock Price

Snowflake (NYSE:SNOW) had its target price upped by Needham & Company LLC from $200.00 to $215.00 in a research note released on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

SNOW has been the subject of a number of other research reports. Truist Financial reiterated a “buy” rating and issued a $210.00 price target on shares of Snowflake in a research note on Thursday, November 21st. Rosenblatt Securities raised their target price on shares of Snowflake from $186.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday. Jefferies Financial Group boosted their price target on Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Scotiabank raised their price objective on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research report on Monday, December 9th. Finally, Monness Crespi & Hardt lifted their target price on Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $202.92.

Snowflake Trading Up 4.6 %

NYSE SNOW opened at $173.78 on Thursday. Snowflake has a 12 month low of $107.13 and a 12 month high of $233.88. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a 50 day moving average of $172.98 and a 200-day moving average of $145.14. The company has a market cap of $57.36 billion, a PE ratio of -51.26 and a beta of 1.07.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the completion of the sale, the executive vice president now directly owns 691,755 shares in the company, valued at $124,515,900. This represents a 2.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Slootman sold 2,218 shares of Snowflake stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $175.00, for a total value of $388,150.00. Following the completion of the transaction, the director now owns 208,735 shares in the company, valued at approximately $36,528,625. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 312,193 shares of company stock worth $52,833,048. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of hedge funds have recently made changes to their positions in the stock. Asset Dedication LLC increased its position in Snowflake by 6.8% during the 4th quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after purchasing an additional 59 shares in the last quarter. Quarry LP increased its holdings in shares of Snowflake by 9.8% during the fourth quarter. Quarry LP now owns 662 shares of the company’s stock worth $102,000 after buying an additional 59 shares in the last quarter. Breakwater Capital Group lifted its stake in shares of Snowflake by 2.2% in the 4th quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock valued at $454,000 after acquiring an additional 62 shares during the last quarter. Gabelli Funds LLC boosted its holdings in shares of Snowflake by 3.3% during the 4th quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock valued at $317,000 after acquiring an additional 65 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its position in Snowflake by 0.6% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock worth $2,077,000 after acquiring an additional 69 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.