DA Davidson Cuts Snowflake (NYSE:SNOW) Price Target to $200.00

Snowflake (NYSE:SNOW - Free Report) had its target price trimmed by DA Davidson from $225.00 to $200.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also issued reports on SNOW. Truist Financial cut their target price on Snowflake from $225.00 to $210.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Stifel Nicolaus upped their target price on Snowflake from $187.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Macquarie began coverage on Snowflake in a research report on Wednesday, April 2nd. They set a "neutral" rating and a $160.00 price target on the stock. Monness Crespi & Hardt raised their target price on Snowflake from $188.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, Needham & Company LLC lifted their target price on Snowflake from $200.00 to $215.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. 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 stock. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of "Moderate Buy" and an average price target of $201.76.

Snowflake Trading Down 1.9 %

NYSE:SNOW traded down $2.74 during mid-day trading on Monday, reaching $143.34. The company's stock had a trading volume of 2,483,780 shares, compared to its average volume of 6,421,229. The stock has a market cap of $47.32 billion, a P/E ratio of -42.28 and a beta of 1.13. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The company's fifty day simple moving average is $159.07 and its two-hundred day simple moving average is $154.35. Snowflake has a twelve month low of $107.13 and a twelve month high of $194.40.

Insider Transactions at Snowflake

In other news, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the sale, the director now owns 26,375 shares of the company's stock, valued at approximately $3,408,968.75. This trade represents a 1.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the sale, the executive vice president now owns 552,930 shares in the company, valued at $103,121,445. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 491,589 shares of company stock worth $82,405,796. Company insiders own 7.80% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Snowflake in the 4th quarter worth approximately $988,950,000. GQG Partners LLC bought a new position in shares of Snowflake during the fourth quarter valued at $750,572,000. Jennison Associates LLC boosted its stake in shares of Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock valued at $1,179,230,000 after purchasing an additional 3,662,671 shares in the last quarter. FMR LLC lifted its holdings in Snowflake by 84.9% during the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after purchasing an additional 2,805,425 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Snowflake by 124.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,968,755 shares of the company's stock worth $612,817,000 after acquiring an additional 2,200,406 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

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.