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

Snowflake (NYSE:SNOW) had its price target increased by UBS Group from $190.00 to $200.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price would indicate a potential upside of 12.29% from the stock’s previous close.

SNOW has been the subject of a number of other reports. Jefferies Financial Group boosted their price target on shares of Snowflake from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Wells Fargo & Company boosted their price target on Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday. Evercore ISI boosted their price objective on shares of Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Canaccord Genuity Group increased their price objective on shares of Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.65.

Snowflake Stock Up 7.2 %

Shares of NYSE:SNOW traded up $11.92 during trading on Thursday, hitting $178.11. The company’s stock had a trading volume of 15,526,023 shares, compared to its average volume of 5,732,333. The business has a 50 day moving average price of $172.79 and a two-hundred day moving average price of $144.94. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $233.88. The company has a market capitalization of $58.79 billion, a PE ratio of -52.73 and a beta of 1.07.

Insider Activity

In related news, EVP Christian Kleinerman sold 15,000 shares of the business’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 completion of the sale, the executive vice president now directly owns 691,755 shares in the company, valued at $124,515,900. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the completion of the sale, the executive now owns 308,164 shares of the company’s stock, valued at $56,045,786.68. This trade represents a 3.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 371,810 shares of company stock worth $63,340,544 over the last three months. Corporate insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Several hedge funds have recently bought and sold shares of SNOW. Allspring Global Investments Holdings LLC boosted its holdings in shares of Snowflake by 73.3% in the 3rd 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 in the last quarter. J.W. Cole Advisors Inc. bought a new position in shares of Snowflake in the third quarter worth about $231,000. Fortitude Family Office LLC bought a new stake in shares of Snowflake during the 3rd quarter valued at approximately $34,000. Ayalon Insurance Comp Ltd. grew its stake in shares of Snowflake by 30.1% during the third 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 bought a new stake in Snowflake during the 3rd quarter worth $233,000. 65.10% of the stock is owned by institutional investors.

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.