Truist Financial Cuts Snowflake (NYSE:SNOW) Price Target to $210.00

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

A number of other equities research analysts also recently issued reports on SNOW. Wedbush set a $210.00 price target on shares of Snowflake in a research report on Wednesday, January 22nd. Evercore ISI lifted their price objective on Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Oppenheimer boosted their target price on Snowflake from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Piper Sandler raised their price target on Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Finally, Mizuho boosted their price objective on shares of Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $203.05.

Snowflake Stock Performance

Shares of 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 52-week low of $107.13 and a 52-week high of $194.40. The company has a 50-day simple moving average of $170.55 and a 200-day simple moving average of $152.08. The company has a market capitalization of $50.91 billion, a PE ratio of -45.50 and a beta of 1.07.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the sale, the executive vice president now owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This represents a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction that occurred on Tuesday, March 25th. The shares were 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 approximately $47,756,878.10. This trade represents a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 491,186 shares of company stock worth $82,353,709 in the last three months. 7.80% of the stock is currently owned by company insiders.

Institutional Trading of Snowflake

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