Snowflake (NYSE:SNOW) Price Target Raised to $200.00 at UBS Group

Snowflake (NYSE:SNOW - Free Report) had its price target lifted by UBS Group from $190.00 to $200.00 in a report published on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other equities research analysts have also issued reports on SNOW. Wolfe Research raised shares of Snowflake from a "peer perform" rating to an "outperform" rating and set a $235.00 price objective for the company in a report on Tuesday, February 18th. Piper Sandler boosted their price target on shares of Snowflake from $208.00 to $215.00 and gave the stock an "overweight" rating in a research note on Thursday. Guggenheim reissued a "neutral" rating on shares of Snowflake in a research note on Thursday. Mizuho raised their price objective on shares of Snowflake from $195.00 to $205.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company upped their price target on Snowflake from $210.00 to $215.00 and gave the company an "overweight" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $202.92.

Snowflake Price Performance

Shares of Snowflake stock traded up $3.07 on Thursday, reaching $176.76. The company's stock had a trading volume of 8,787,411 shares, compared to its average volume of 5,945,271. The company has a market capitalization of $58.35 billion, a P/E ratio of -52.14 and a beta of 1.07. Snowflake has a 52-week low of $107.13 and a 52-week high of $194.40. The stock has a 50-day moving average price of $173.19 and a 200-day moving average price of $145.64. 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 Transactions at Snowflake

In other Snowflake news, Director Frank Slootman sold 2,218 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $175.00, for a total transaction of $388,150.00. Following the sale, the director now directly owns 208,735 shares of the company's stock, valued at $36,528,625. This trade represents a 1.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total value of $2,700,000.00. Following the sale, the executive vice president now owns 691,755 shares in the company, valued at $124,515,900. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 312,193 shares of company stock valued at $52,833,048 in the last quarter. 7.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its holdings in Snowflake by 73.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 792 shares of the company's stock valued at $91,000 after purchasing an additional 335 shares during the period. J.W. Cole Advisors Inc. purchased a new stake in shares of Snowflake during the 3rd quarter valued at $231,000. Fortitude Family Office LLC purchased a new stake in shares of Snowflake during the 3rd quarter valued at $34,000. Ayalon Insurance Comp Ltd. increased its holdings in shares of Snowflake by 30.1% during the 3rd quarter. Ayalon Insurance Comp Ltd. now owns 19,552 shares of the company's stock worth $2,246,000 after buying an additional 4,522 shares during the last quarter. Finally, AM Investment Strategies LLC purchased a new position in shares of Snowflake in the 3rd quarter worth $233,000. 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.