Snowflake (NYSE:SNOW) Given New $220.00 Price Target at Oppenheimer

Snowflake (NYSE:SNOW) had its price target upped by Oppenheimer from $200.00 to $220.00 in a research note released on Thursday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other brokerages have also commented on SNOW. UBS Group upped their price target on Snowflake from $155.00 to $190.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Evercore ISI increased their target price on shares of Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Bank of America lifted their price target on shares of Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Cantor Fitzgerald started coverage on shares of Snowflake in a research note on Friday, January 17th. They set an “overweight” rating and a $201.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Snowflake has a consensus rating of “Moderate Buy” and a consensus target price of $202.92.

Snowflake Trading Up 4.6 %

SNOW stock opened at $173.78 on Thursday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market cap of $57.36 billion, a price-to-earnings ratio of -51.26 and a beta of 1.07. The business has a fifty day simple moving average of $172.98 and a 200-day simple moving average of $145.14. Snowflake has a 52 week low of $107.13 and a 52 week high of $233.88.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total value of $2,700,000.00. Following the completion of the transaction, the executive vice president now directly owns 691,755 shares of the company’s stock, valued at approximately $124,515,900. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Frank Slootman sold 2,218 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $175.00, for a total transaction of $388,150.00. Following the sale, the director now owns 208,735 shares in the company, valued at approximately $36,528,625. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 312,193 shares of company stock valued at $52,833,048. Corporate insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

A number of hedge funds and other institutional investors have recently bought and sold shares of SNOW. Jennison Associates LLC lifted its holdings 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 worth $1,179,230,000 after purchasing an additional 3,662,671 shares during the last quarter. State Street Corp increased its position in Snowflake by 0.8% in the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after buying an additional 54,909 shares during the period. Norges Bank acquired a new stake in Snowflake in the fourth quarter worth $988,950,000. FMR LLC lifted its stake in Snowflake by 84.9% in the fourth quarter. FMR LLC now owns 6,108,123 shares of the company’s stock valued at $943,155,000 after buying an additional 2,805,425 shares during the last quarter. Finally, GQG Partners LLC acquired a new position in shares of Snowflake during the fourth quarter valued at $750,572,000. 65.10% of the stock is currently owned by institutional investors and hedge funds.

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.