Snowflake (NYSE:SNOW) had its target price decreased by investment analysts at Rosenblatt Securities from $270.00 to $265.00 in a research report issued on Friday, Price Targets.com reports. The firm currently has a “buy” rating on the stock. Rosenblatt Securities’ target price points to a potential upside of 6.51% from the company’s current price.
Other analysts have also issued research reports about the company. Barclays decreased their price objective on Snowflake from $295.00 to $270.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 4th. Citigroup dropped their price target on shares of Snowflake from $325.00 to $295.00 and set a “neutral” rating for the company in a research report on Thursday, March 4th. Credit Suisse Group dropped their price target on Snowflake from $310.00 to $275.00 and set a “neutral” rating for the company in a research note on Thursday, March 4th. Canaccord Genuity decreased their price objective on shares of Snowflake from $275.00 to $240.00 and set a “hold” rating for the company in a research note on Thursday, May 27th. Finally, Morgan Stanley raised their target price on shares of Snowflake from $265.00 to $270.00 and gave the company an “equal weight” rating in a research note on Thursday, March 4th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $280.21.
Shares of SNOW stock opened at $248.80 on Friday. The business’s fifty day moving average price is $229.07. The firm has a market capitalization of $71.83 billion and a PE ratio of -65.47. Snowflake has a 1 year low of $184.71 and a 1 year high of $429.00.
In other news, Director John Dennis Mcmahon sold 9,090 shares of the business’s stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $239.00, for a total value of $2,172,510.00. Following the completion of the sale, the director now directly owns 142,098 shares in the company, valued at approximately $33,961,422. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Teresa Briggs sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, May 28th. The shares were sold at an average price of $240.34, for a total value of $3,605,100.00. Following the sale, the director now directly owns 151,852 shares in the company, valued at $36,496,109.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 791,937 shares of company stock worth $183,337,250.
Several institutional investors have recently bought and sold shares of SNOW. ICONIQ Capital LLC increased its position in Snowflake by 272.4% in the first quarter. ICONIQ Capital LLC now owns 32,989,621 shares of the company’s stock worth $7,563,861,000 after buying an additional 24,131,611 shares during the period. Altimeter Capital Management LP grew its holdings in Snowflake by 239.5% in the 1st quarter. Altimeter Capital Management LP now owns 32,221,080 shares of the company’s stock worth $7,387,649,000 after buying an additional 22,729,505 shares in the last quarter. Morgan Stanley increased its position in Snowflake by 96.7% in the 1st quarter. Morgan Stanley now owns 12,747,746 shares of the company’s stock valued at $2,922,804,000 after acquiring an additional 6,266,942 shares during the period. Jennison Associates LLC raised its stake in Snowflake by 18,581.1% during the 4th quarter. Jennison Associates LLC now owns 3,652,340 shares of the company’s stock valued at $1,027,768,000 after acquiring an additional 3,632,789 shares in the last quarter. Finally, SALESFORCE.COM Inc. boosted its position in Snowflake by 139.3% during the 1st quarter. SALESFORCE.COM Inc. now owns 4,985,061 shares of the company’s stock worth $1,142,975,000 after acquiring an additional 2,901,728 shares during the period. Institutional investors own 61.22% of the company’s stock.
Snowflake Inc provides cloud-based data platform in the United States and internationally. The company's platform offers Data Cloud, an ecosystem that enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data.
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