KeyCorp Issues Positive Forecast for Snowflake (NYSE:SNOW) Stock Price

Snowflake (NYSE:SNOWFree Report) had its target price hoisted by KeyCorp from $150.00 to $185.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

SNOW has been the subject of a number of other research reports. Argus started coverage on shares of Snowflake in a research report on Tuesday, October 1st. They issued a “hold” rating for the company. Stifel Nicolaus decreased their price objective on Snowflake from $200.00 to $168.00 and set a “buy” rating for the company in a research report on Monday, August 19th. UBS Group dropped their target price on shares of Snowflake from $155.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Morgan Stanley reiterated an “equal weight” rating and issued a $175.00 price target on shares of Snowflake in a report on Thursday, August 22nd. Finally, Scotiabank dropped their price objective on shares of Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average target price of $180.23.

Check Out Our Latest Stock Analysis on SNOW

Snowflake Trading Down 2.3 %

NYSE SNOW opened at $167.44 on Thursday. Snowflake has a 12 month low of $107.13 and a 12 month high of $237.72. The stock has a 50-day simple moving average of $120.06 and a 200 day simple moving average of $127.80. The company has a market capitalization of $56.13 billion, a PE ratio of -49.39 and a beta of 0.83.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the sale, the executive vice president now owns 759,473 shares of the company’s stock, valued at $83,511,651.08. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Frank Slootman sold 1,606 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $176,595.76. Following the transaction, the director now directly owns 218,246 shares in the company, valued at approximately $23,998,330.16. This represents a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,538 shares of company stock worth $7,061,544 over the last ninety days. Insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Large investors have recently made changes to their positions in the company. Ontario Teachers Pension Plan Board raised its stake in shares of Snowflake by 19,399.2% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after purchasing an additional 2,559,144 shares during the last quarter. Swedbank AB bought a new position in Snowflake during the 1st quarter valued at $258,957,000. Two Sigma Advisers LP boosted its holdings in Snowflake by 27.9% during the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after acquiring an additional 881,700 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Snowflake by 210.0% in the 2nd quarter. AQR Capital Management LLC now owns 974,576 shares of the company’s stock worth $131,656,000 after acquiring an additional 660,168 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Snowflake by 471.9% in the third quarter. SG Americas Securities LLC now owns 761,697 shares of the company’s stock valued at $87,489,000 after purchasing an additional 628,511 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Snowflake Company Profile

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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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Analyst Recommendations for Snowflake (NYSE:SNOW)

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