Snowflake (NYSE:SNOW) Price Target Lowered to $183.00 at Royal Bank of Canada

Snowflake (NYSE:SNOWFree Report) had its price objective cut by Royal Bank of Canada from $226.00 to $183.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

SNOW has been the topic of several other research reports. Sanford C. Bernstein lifted their target price on shares of Snowflake from $171.00 to $185.00 and gave the company a market perform rating in a report on Thursday, May 23rd. Loop Capital lowered their price objective on Snowflake from $235.00 to $225.00 and set a buy rating on the stock in a report on Thursday, May 23rd. Bank of America dropped their target price on Snowflake from $212.00 to $200.00 and set a neutral rating on the stock in a research report on Wednesday, May 15th. Robert W. Baird decreased their price target on Snowflake from $210.00 to $200.00 and set an outperform rating on the stock in a research note on Thursday, May 23rd. Finally, Stifel Nicolaus cut their price objective on Snowflake from $220.00 to $200.00 and set a buy rating for the company in a research report on Thursday, May 23rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $198.92.

Check Out Our Latest Stock Report on Snowflake

Snowflake Price Performance

Shares of NYSE SNOW opened at $134.25 on Wednesday. The stock has a fifty day moving average price of $154.43 and a 200 day moving average price of $179.30. Snowflake has a 1-year low of $128.41 and a 1-year high of $237.72. The company has a market cap of $44.87 billion, a PE ratio of -47.95 and a beta of 0.85.

Insiders Place Their Bets

In other news, insider Benoit Dageville sold 689 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 70,665 shares of the company’s stock, valued at approximately $11,406,744.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $137.14, for a total value of $2,057,100.00. Following the transaction, the executive vice president now directly owns 757,597 shares of the company’s stock, valued at approximately $103,896,852.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benoit Dageville sold 689 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 70,665 shares in the company, valued at approximately $11,406,744.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,880 shares of company stock valued at $12,890,065. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

Several institutional investors have recently bought and sold shares of the business. Trexquant Investment LP increased its holdings in Snowflake by 266.3% in the 4th quarter. Trexquant Investment LP now owns 10,499 shares of the company’s stock valued at $2,089,000 after purchasing an additional 7,633 shares in the last quarter. Congress Wealth Management LLC DE acquired a new stake in shares of Snowflake in the fourth quarter valued at about $232,000. Rakuten Securities Inc. purchased a new stake in shares of Snowflake during the 4th quarter valued at about $790,000. Sequoia Financial Advisors LLC lifted its position in Snowflake by 209.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 4,658 shares of the company’s stock worth $927,000 after acquiring an additional 3,152 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in Snowflake in the 3rd quarter worth approximately $458,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

About Snowflake

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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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