UBS Group Boosts Snowflake (NYSE:SNOW) Price Target to $285.00

Snowflake (NYSE:SNOW) had its price objective upped by equities researchers at UBS Group from $250.00 to $285.00 in a report released on Thursday, MarketBeat reports. The firm currently has a “buy” rating on the stock. UBS Group’s target price would suggest a potential upside of 19.40% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group raised their price objective on Snowflake from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday. Mizuho lifted their price target on Snowflake from $215.00 to $235.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. Monness Crespi & Hardt lifted their price target on Snowflake from $245.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley assumed coverage on shares of Snowflake in a report on Tuesday, June 24th. They issued an “overweight” rating and a $262.00 price objective for the company. Finally, Barclays lifted their target price on Snowflake from $219.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $255.53.

Snowflake Trading Down 1.0%

Snowflake stock opened at $238.69 on Thursday. Snowflake has a one year low of $107.13 and a one year high of $249.99. The stock has a market cap of $79.69 billion, a PE ratio of -57.51 and a beta of 1.22. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. The stock has a 50-day moving average of $211.41 and a two-hundred day moving average of $185.91.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 10,000 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $216.00, for a total value of $2,160,000.00. Following the completion of the sale, the executive vice president directly owned 537,336 shares of the company’s stock, valued at $116,064,576. This represents a 1.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Teresa Briggs sold 1,146 shares of the company’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $217.74, for a total value of $249,530.04. Following the completion of the sale, the director directly owned 4,474 shares of the company’s stock, valued at approximately $974,168.76. This trade represents a 20.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,226,909 shares of company stock valued at $719,343,881 in the last 90 days. Company insiders own 6.80% of the company’s stock.

Institutional Trading of Snowflake

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its stake in shares of Snowflake by 22.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,587,114 shares of the company’s stock worth $524,293,000 after buying an additional 650,775 shares in the last quarter. CenterBook Partners LP purchased a new position in shares of Snowflake during the 1st quarter worth approximately $2,381,000. Berkshire Capital Holdings Inc. raised its stake in shares of Snowflake by 71,500.0% during the 1st quarter. Berkshire Capital Holdings Inc. now owns 7,160 shares of the company’s stock worth $1,047,000 after buying an additional 7,150 shares in the last quarter. Lyell Wealth Management LP raised its stake in shares of Snowflake by 5.1% during the 1st quarter. Lyell Wealth Management LP now owns 60,685 shares of the company’s stock worth $8,870,000 after buying an additional 2,955 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in shares of Snowflake during the 1st quarter worth approximately $898,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Company Profile

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.