Snowflake (NYSE:SNOW) Given New $190.00 Price Target at Jefferies Financial Group

Snowflake (NYSE:SNOW - Get Free Report) had its target price lowered by stock analysts at Jefferies Financial Group from $220.00 to $190.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Jefferies Financial Group's target price suggests a potential upside of 47.03% from the stock's current price.

Other equities research analysts have also issued reports about the company. Citigroup lifted their price target on Snowflake from $225.00 to $230.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Wedbush set a $210.00 price objective on shares of Snowflake in a report on Wednesday, January 22nd. UBS Group lifted their target price on shares of Snowflake from $190.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, February 27th. Monness Crespi & Hardt lifted their price target on Snowflake from $188.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Finally, Scotiabank increased their price objective on shares of Snowflake from $170.00 to $220.00 and gave the company a "sector outperform" rating in a research report on Monday, December 9th. Ten analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $203.05.

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Snowflake Trading Down 7.6 %

Shares of SNOW traded down $10.68 during mid-day trading on Monday, hitting $129.23. 4,077,176 shares of the company's stock traded hands, compared to its average volume of 6,379,218. The business's 50-day moving average price is $169.85 and its 200-day moving average price is $152.00. Snowflake has a 1 year low of $107.13 and a 1 year high of $194.40. The firm has a market capitalization of $42.66 billion, a P/E ratio of -38.10 and a beta of 1.13. 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 Activity

In other news, CFO Michael Scarpelli sold 300,000 shares of the business's stock in a transaction that occurred 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 owns 292,610 shares of the company's stock, valued at approximately $47,756,878.10. The trade was a 50.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value 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 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 over the last quarter. Insiders own 7.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Groupama Asset Managment purchased a new stake in shares of Snowflake during the third quarter valued at $25,000. Stonebridge Financial Group LLC bought a new position in shares of Snowflake during the 4th quarter worth $29,000. West Paces Advisors Inc. purchased a new position in shares of Snowflake during the fourth quarter valued at $31,000. Spurstone Advisory Services LLC bought a new stake in shares of Snowflake in the fourth quarter valued at about $31,000. Finally, Capital A Wealth Management LLC purchased a new stake in Snowflake in the fourth quarter worth about $31,000. 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.