Snowflake (NYSE:SNOW) Price Target Cut to $200.00 by Analysts at Wells Fargo & Company

Snowflake (NYSE:SNOW - Get Free Report) had its price objective dropped by investment analysts at Wells Fargo & Company from $215.00 to $200.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 46.24% from the stock's previous close.

SNOW has been the topic of several other reports. Daiwa Capital Markets started coverage on shares of Snowflake in a research note on Tuesday, April 1st. They issued a "buy" rating and a $210.00 price target on the stock. Mizuho upped their price target on shares of Snowflake from $195.00 to $205.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Needham & Company LLC upped their target price on shares of Snowflake from $200.00 to $215.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. KeyCorp dropped their price objective on Snowflake from $220.00 to $192.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, Jefferies Financial Group lowered their price target on shares of Snowflake from $220.00 to $190.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Ten analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $201.35.

Snowflake Stock Down 4.7 %

SNOW stock opened at $136.76 on Tuesday. 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 twelve month low of $107.13 and a twelve month high of $194.40. The stock has a market cap of $45.14 billion, a P/E ratio of -40.34 and a beta of 1.13. The business's 50-day moving average price is $158.05 and its 200-day moving average price is $155.12.

Insider Activity at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 292,610 shares of the company's stock, valued at $47,756,878.10. The trade was a 50.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction 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 completion of the transaction, the director now owns 26,375 shares in the company, valued at approximately $3,408,968.75. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 491,589 shares of company stock worth $82,405,796. 7.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Snowflake

Several hedge funds have recently made changes to their positions in SNOW. Asset Dedication LLC grew its stake in shares of Snowflake by 6.8% in the 4th quarter. Asset Dedication LLC now owns 922 shares of the company's stock worth $142,000 after buying an additional 59 shares during the last quarter. Quarry LP increased its holdings in shares of Snowflake by 9.8% during the fourth quarter. Quarry LP now owns 662 shares of the company's stock valued at $102,000 after acquiring an additional 59 shares in the last quarter. Breakwater Capital Group boosted its stake in Snowflake by 2.2% in the 4th quarter. Breakwater Capital Group now owns 2,938 shares of the company's stock worth $454,000 after purchasing an additional 62 shares in the last quarter. Gabelli Funds LLC grew its position in Snowflake by 3.3% during the 4th quarter. Gabelli Funds LLC now owns 2,050 shares of the company's stock valued at $317,000 after purchasing an additional 65 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its holdings in Snowflake by 0.6% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company's stock worth $2,077,000 after buying an additional 69 shares during the last quarter. 65.10% of the stock is currently owned by 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.

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