Snowflake (NYSE:SNOW) Price Target Cut to $192.00 by Analysts at KeyCorp

Snowflake (NYSE:SNOW - Free Report) had its target price cut by KeyCorp from $220.00 to $192.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also recently issued reports on SNOW. Truist Financial reduced their target price on Snowflake from $225.00 to $210.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Macquarie started coverage on Snowflake in a report on Wednesday, April 2nd. They set a "neutral" rating and a $160.00 price objective on the stock. Barclays raised their target price on shares of Snowflake from $190.00 to $203.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. Bank of America upped their price target on shares of Snowflake from $185.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $183.00 price objective on shares of Snowflake in a research note on Wednesday, April 2nd. Ten analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $201.76.

Snowflake Price Performance

NYSE SNOW traded down $2.74 on Thursday, reaching $143.34. The company had a trading volume of 2,483,780 shares, compared to its average volume of 6,427,039. The stock has a market capitalization of $47.32 billion, a PE ratio of -42.28 and a beta of 1.13. Snowflake has a 12 month low of $107.13 and a 12 month high of $194.40. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm's 50 day moving average price is $159.07 and its 200 day moving average price is $154.66.

Insiders Place Their Bets

In other news, CFO Michael Scarpelli sold 300,000 shares of the company's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the sale, the chief financial officer now owns 292,610 shares in the company, valued at $47,756,878.10. This represents a 50.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the transaction, the director now owns 26,375 shares of the company's stock, valued at approximately $3,408,968.75. This represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 491,589 shares of company stock valued at $82,405,796. 7.80% of the stock is owned by insiders.

Institutional Trading of Snowflake

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNOW. Opal Wealth Advisors LLC acquired a new stake in Snowflake during the first quarter worth $26,000. Stonebridge Financial Group LLC purchased a new stake in Snowflake in the 4th quarter valued at about $29,000. CVA Family Office LLC lifted its position in Snowflake by 80.0% in the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after buying an additional 88 shares during the last quarter. West Paces Advisors Inc. purchased a new position in Snowflake during the fourth quarter worth about $31,000. Finally, Spurstone Advisory Services LLC acquired a new stake in shares of Snowflake during the fourth quarter valued at about $31,000. Institutional investors and hedge funds 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.