Snowflake (NYSE:SNOW – Get Free Report) had its target price hoisted by equities researchers at Jefferies Financial Group from $190.00 to $220.00 in a research report issued on Tuesday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective points to a potential upside of 22.71% from the stock’s current price.
Several other research analysts have also recently issued reports on the company. Truist Financial dropped their price target on Snowflake from $225.00 to $210.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Daiwa Capital Markets started coverage on Snowflake in a research report on Tuesday, April 1st. They set a “buy” rating and a $210.00 target price on the stock. UBS Group upped their target price on Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. The Goldman Sachs Group set a $205.00 price target on Snowflake and gave the stock a “buy” rating in a research note on Monday. Finally, Citigroup upped their price objective on shares of Snowflake from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, April 1st. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $201.00.
Get Our Latest Stock Analysis on SNOW
Snowflake Stock Down 2.0%
Insider Activity
In related news, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $168.01, for a total value of $67,708.03. Following the completion of the sale, the director now directly owns 25,972 shares in the company, valued at approximately $4,363,555.72. This represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the transaction, the chief financial officer now directly owns 292,610 shares in the company, 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. In the last 90 days, insiders have sold 356,963 shares of company stock worth $58,204,058. 7.80% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Asset Dedication LLC raised its position in shares of Snowflake by 6.8% in the fourth quarter. Asset Dedication LLC now owns 922 shares of the company’s stock valued at $142,000 after purchasing an additional 59 shares during the period. Quarry LP raised its holdings in Snowflake by 9.8% in the 4th quarter. Quarry LP now owns 662 shares of the company’s stock worth $102,000 after acquiring an additional 59 shares during the period. Ignite Planners LLC lifted its position in Snowflake by 2.3% during the 1st quarter. Ignite Planners LLC now owns 2,861 shares of the company’s stock worth $418,000 after acquiring an additional 64 shares during the last quarter. Gabelli Funds LLC boosted its holdings in Snowflake by 3.3% during the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock valued at $317,000 after acquiring an additional 65 shares during the period. Finally, Archford Capital Strategies LLC boosted its holdings in Snowflake by 1.9% during the first quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company’s stock valued at $527,000 after acquiring an additional 68 shares during the period. 65.10% of the stock is owned by institutional investors.
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.
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