Snowflake (NYSE:SNOW) Price Target Raised to $275.00

Snowflake (NYSE:SNOW) had its price objective hoisted by Royal Bank Of Canada from $250.00 to $275.00 in a research note released on Thursday, Marketbeat reports. Royal Bank Of Canada currently has an outperform rating on the stock.

SNOW has been the topic of a number of other research reports. Mizuho raised their price target on shares of Snowflake from $215.00 to $235.00 and gave the company an “outperform” rating in a report on Wednesday, June 4th. Oppenheimer restated an “outperform” rating on shares of Snowflake in a report on Tuesday, June 24th. Cantor Fitzgerald raised their price target on shares of Snowflake from $242.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday. Macquarie raised their target price on shares of Snowflake from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Wednesday, June 4th. Finally, DA Davidson reiterated a “buy” rating and issued a $250.00 target price on shares of Snowflake in a research note on Monday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $255.53.

Snowflake Stock Down 1.0%

Snowflake stock opened at $238.69 on Thursday. The company has a market capitalization of $79.69 billion, a P/E ratio of -57.51 and a beta of 1.22. The firm’s fifty day simple moving average is $211.41 and its 200-day simple moving average is $185.89. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. Snowflake has a 1-year low of $107.13 and a 1-year high of $249.99.

Insider Activity

In other news, Director Frank Slootman sold 710,083 shares of the business’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $230.47, for a total transaction of $163,652,829.01. Following the transaction, the director owned 165,507 shares in the company, valued at approximately $38,144,398.29. The trade was a 81.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 3,226,909 shares of company stock worth $719,343,881. Insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Snowflake by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 27,789,761 shares of the company’s stock worth $6,218,515,000 after purchasing an additional 595,553 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Snowflake during the 2nd quarter valued at about $3,900,134,000. Jennison Associates LLC boosted its position in shares of Snowflake by 20.5% during the 2nd quarter. Jennison Associates LLC now owns 8,000,667 shares of the company’s stock valued at $1,790,309,000 after acquiring an additional 1,363,389 shares in the last quarter. State Street Corp boosted its position in shares of Snowflake by 1.4% during the 2nd quarter. State Street Corp now owns 6,887,073 shares of the company’s stock valued at $1,541,120,000 after acquiring an additional 94,293 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its position in shares of Snowflake by 15.2% during the 2nd quarter. Artisan Partners Limited Partnership now owns 4,951,715 shares of the company’s stock valued at $1,108,045,000 after acquiring an additional 652,485 shares in the last quarter. 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.