Wells Fargo & Company Increases Snowflake (NYSE:SNOW) Price Target to $215.00

Snowflake (NYSE:SNOW) had its price target increased by research analysts at Wells Fargo & Company from $210.00 to $215.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 19.48% from the company’s previous close.

A number of other analysts have also weighed in on the company. Barclays increased their price objective on Snowflake from $190.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday. Piper Sandler increased their price target on shares of Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group boosted their price objective on shares of Snowflake from $155.00 to $190.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. KeyCorp increased their target price on shares of Snowflake from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Citigroup boosted their price target on Snowflake from $225.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $202.38.

Snowflake Trading Up 8.3 %

Shares of NYSE SNOW traded up $13.75 during midday trading on Thursday, reaching $179.94. The company had a trading volume of 13,176,020 shares, compared to its average volume of 5,666,012. The stock has a market cap of $59.40 billion, a PE ratio of -53.19 and a beta of 1.07. Snowflake has a one year low of $107.13 and a one year high of $233.88. The firm’s fifty day moving average price is $172.79 and its 200-day moving average price is $144.94. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insider Transactions at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total transaction of $99,882.00. Following the transaction, the executive vice president now owns 690,647 shares of the company’s stock, valued at $123,625,813. The trade was a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Slootman sold 59,617 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $176.25, for a total transaction of $10,507,496.25. Following the completion of the sale, the director now directly owns 208,735 shares of the company’s stock, valued at approximately $36,789,543.75. This trade represents a 22.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 371,810 shares of company stock worth $63,340,544 in the last 90 days. 7.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snowflake

A number of institutional investors have recently bought and sold shares of SNOW. Allspring Global Investments Holdings LLC grew its position in shares of Snowflake by 73.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 792 shares of the company’s stock worth $91,000 after purchasing an additional 335 shares in the last quarter. J.W. Cole Advisors Inc. purchased a new stake in Snowflake during the 3rd quarter valued at approximately $231,000. Fortitude Family Office LLC bought a new stake in Snowflake in the 3rd quarter valued at $34,000. Ayalon Insurance Comp Ltd. lifted its position in shares of Snowflake by 30.1% in the third quarter. Ayalon Insurance Comp Ltd. now owns 19,552 shares of the company’s stock worth $2,246,000 after buying an additional 4,522 shares in the last quarter. Finally, AM Investment Strategies LLC bought a new position in Snowflake during the third quarter valued at approximately $233,000. Hedge funds and other institutional investors 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.