Snowflake (NYSE:SNOW) Price Target Lowered to $180.00 at Mizuho

Snowflake (NYSE:SNOWFree Report) had its target price lowered by Mizuho from $205.00 to $180.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms also recently issued reports on SNOW. Redburn Atlantic reiterated a sell rating and issued a $125.00 target price (down previously from $180.00) on shares of Snowflake in a research note on Tuesday, March 19th. Truist Financial cut their price target on shares of Snowflake from $250.00 to $210.00 and set a buy rating on the stock in a report on Thursday, February 29th. Oppenheimer reiterated an outperform rating and issued a $220.00 price objective on shares of Snowflake in a research note on Thursday, May 23rd. Royal Bank of Canada cut their target price on Snowflake from $246.00 to $220.00 and set an outperform rating on the stock in a research note on Monday, May 20th. Finally, Bank of America decreased their price target on Snowflake from $212.00 to $200.00 and set a neutral rating for the company in a research report on Wednesday, May 15th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Snowflake has a consensus rating of Moderate Buy and an average target price of $198.92.

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Snowflake Stock Down 2.0 %

Shares of NYSE:SNOW opened at $134.25 on Wednesday. The business’s 50 day moving average is $154.43 and its 200 day moving average is $179.30. Snowflake has a 12-month low of $128.41 and a 12-month high of $237.72. The stock has a market cap of $44.87 billion, a price-to-earnings ratio of -47.95 and a beta of 0.85.

Insider Buying and Selling at Snowflake

In other news, CEO Sridhar Ramaswamy acquired 31,542 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was purchased at an average cost of $158.52 per share, for a total transaction of $5,000,037.84. Following the acquisition, the chief executive officer now owns 31,542 shares of the company’s stock, valued at $5,000,037.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Snowflake news, CEO Sridhar Ramaswamy purchased 31,542 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were purchased at an average cost of $158.52 per share, with a total value of $5,000,037.84. Following the completion of the purchase, the chief executive officer now owns 31,542 shares of the company’s stock, valued at approximately $5,000,037.84. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Benoit Dageville sold 689 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $161.42, for a total transaction of $111,218.38. Following the completion of the sale, the insider now directly owns 70,665 shares of the company’s stock, valued at approximately $11,406,744.30. The disclosure for this sale can be found here. Insiders have sold 83,880 shares of company stock worth $12,890,065 over the last 90 days. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Snowflake in the 4th quarter worth approximately $838,455,000. Swedbank AB bought a new stake in Snowflake during the 1st quarter valued at $258,957,000. Vanguard Group Inc. boosted its position in Snowflake by 8.0% during the 4th quarter. Vanguard Group Inc. now owns 20,988,720 shares of the company’s stock valued at $4,176,755,000 after buying an additional 1,559,830 shares during the period. FMR LLC grew its holdings in Snowflake by 32.1% in the 3rd quarter. FMR LLC now owns 6,154,085 shares of the company’s stock worth $940,160,000 after acquiring an additional 1,496,235 shares during the last quarter. Finally, Winslow Capital Management LLC purchased a new position in shares of Snowflake in the third quarter valued at about $226,302,000. Institutional investors own 65.10% of the company’s stock.

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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