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

Snowflake (NYSE:SNOW) had its price objective hoisted by Oppenheimer from $200.00 to $220.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

SNOW has been the subject of a number of other reports. Loop Capital upped their target price on shares of Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Royal Bank of Canada upped their price objective on Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. UBS Group lifted their target price on Snowflake from $155.00 to $190.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Mizuho upped their price target on Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Jefferies Financial Group increased their price target on Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 21st. One 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $202.92.

Snowflake Stock Performance

Shares of Snowflake stock opened at $173.78 on Thursday. The stock has a market capitalization of $57.36 billion, a price-to-earnings ratio of -51.26 and a beta of 1.07. The firm’s fifty day simple moving average is $172.98 and its 200-day simple moving average is $145.14. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake has a 12 month low of $107.13 and a 12 month high of $233.88.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the transaction, the executive vice president now directly owns 552,930 shares in the company, valued at approximately $103,121,445. This represents a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank Slootman sold 2,218 shares of the firm’s 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 directly owns 208,735 shares in the company, valued at $36,528,625. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 312,193 shares of company stock worth $52,833,048. 7.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Snowflake

Several institutional investors and hedge funds have recently modified their holdings of SNOW. Jefferies Financial Group Inc. grew its stake in Snowflake by 139.8% in the 4th quarter. Jefferies Financial Group Inc. now owns 6,135 shares of the company’s stock worth $947,000 after acquiring an additional 3,577 shares during the period. Carolinas Wealth Consulting LLC acquired a new stake in shares of Snowflake during the fourth quarter worth $32,000. Capital A Wealth Management LLC acquired a new stake in shares of Snowflake during the fourth quarter worth $31,000. Garde Capital Inc. grew its position in shares of Snowflake by 3.9% in the fourth quarter. Garde Capital Inc. now owns 6,288 shares of the company’s stock valued at $971,000 after purchasing an additional 238 shares during the period. Finally, American Trust acquired a new position in Snowflake in the fourth quarter valued at $330,000. Hedge funds and other institutional investors 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.