Snowflake (NYSE:SNOW) Price Target Cut to $210.00 by Analysts at Truist Financial

Snowflake (NYSE:SNOW) had its target price cut by Truist Financial from $225.00 to $210.00 in a research report released on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently weighed in on SNOW. Cantor Fitzgerald raised their price target on shares of Snowflake from $201.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Jefferies Financial Group raised their price objective on shares of Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Guggenheim reissued a “neutral” rating on shares of Snowflake in a research report on Thursday, February 27th. UBS Group increased their price target on shares of Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Finally, Needham & Company LLC boosted their price objective on Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Ten research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $203.05.

Snowflake Price Performance

Shares of NYSE SNOW opened at $154.23 on Monday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The business has a 50 day moving average price of $170.55 and a two-hundred day moving average price of $152.08. The firm has a market cap of $50.91 billion, a PE ratio of -45.50 and a beta of 1.07.

Insiders Place Their Bets

In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the sale, the executive now directly owns 308,164 shares of the company’s stock, valued at $56,045,786.68. The trade was a 3.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Slootman sold 1,783 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $262,528.92. Following the completion of the sale, the director now directly owns 192,511 shares of the company’s stock, valued at approximately $28,345,319.64. This trade represents a 0.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 491,186 shares of company stock worth $82,353,709 over the last ninety days. 7.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Asset Dedication LLC boosted 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 acquiring an additional 59 shares during the period. Quarry LP lifted its position in shares of Snowflake by 9.8% in the fourth quarter. Quarry LP now owns 662 shares of the company’s stock worth $102,000 after purchasing an additional 59 shares in the last quarter. Breakwater Capital Group boosted its holdings in shares of Snowflake by 2.2% during the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock worth $454,000 after purchasing an additional 62 shares during the period. Gabelli Funds LLC boosted its holdings in shares of Snowflake by 3.3% during the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock worth $317,000 after purchasing an additional 65 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich grew its position in Snowflake by 0.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock valued at $2,077,000 after purchasing an additional 69 shares in the last quarter. 65.10% of the stock is 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.