Snowflake (NYSE:SNOW) Given New $190.00 Price Target at TD Cowen

Snowflake (NYSE:SNOW) had its price target boosted by TD Cowen from $180.00 to $190.00 in a research note released on Thursday,Benzinga reports. TD Cowen currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on the stock. Piper Sandler reissued an “overweight” rating and set a $185.00 price objective (up previously from $165.00) on shares of Snowflake in a research report on Thursday. StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Royal Bank of Canada boosted their price target on Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a report on Thursday. Bank of America increased their price objective on Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, JMP Securities dropped their target price on Snowflake from $235.00 to $190.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $180.23.

Snowflake Stock Performance

Shares of SNOW opened at $167.44 on Thursday. The firm has a market capitalization of $56.13 billion, a PE ratio of -49.39 and a beta of 0.83. The stock has a 50 day simple moving average of $120.06 and a 200 day simple moving average of $127.80. Snowflake has a 52-week low of $107.13 and a 52-week high of $237.72.

Insider Buying and Selling

In other news, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the completion of the sale, the executive vice president now owns 759,473 shares of the company’s stock, valued at approximately $83,511,651.08. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 1,606 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the completion of the transaction, the director now owns 218,246 shares in the company, valued at $23,998,330.16. This trade represents a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,538 shares of company stock valued at $7,061,544. Company insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Hedge funds and other institutional investors have recently bought and sold shares of the business. ProShare Advisors LLC increased its holdings in shares of Snowflake by 26.1% during the first quarter. ProShare Advisors LLC now owns 1,424 shares of the company’s stock worth $230,000 after purchasing an additional 295 shares during the period. Covestor Ltd grew its position in Snowflake by 25.0% during the first quarter. Covestor Ltd now owns 350 shares of the company’s stock worth $57,000 after buying an additional 70 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in Snowflake by 21.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 12,634 shares of the company’s stock worth $2,042,000 after acquiring an additional 2,191 shares during the period. UniSuper Management Pty Ltd raised its holdings in Snowflake by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 4,000 shares of the company’s stock valued at $646,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in Snowflake by 372.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 226,153 shares of the company’s stock valued at $36,546,000 after acquiring an additional 178,253 shares in the last quarter. Institutional investors and hedge funds 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.