Wells Fargo & Company Raises Snowflake (NYSE:SNOW) Price Target to $150.00

Snowflake (NYSE:SNOW) had its target price upped by Wells Fargo & Company from $125.00 to $150.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research firms have also weighed in on SNOW. Stifel Nicolaus cut their target price on shares of Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. Robert W. Baird lowered their price target on Snowflake from $200.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Wedbush raised Snowflake to a “hold” rating in a report on Thursday, October 17th. Scotiabank lowered their price target on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating for the company in a report on Thursday, August 22nd. Finally, Barclays lowered their price target on Snowflake from $191.00 to $146.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $180.23.

Snowflake Stock Performance

SNOW stock opened at $167.44 on Thursday. The company’s 50 day moving average price is $120.06 and its 200 day moving average price is $127.80. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The firm has a market capitalization of $56.13 billion, a price-to-earnings ratio of -49.39 and a beta of 0.83.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total transaction of $61,357.68. Following the sale, the executive vice president now directly owns 759,473 shares in the company, valued at approximately $83,511,651.08. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frank Slootman sold 1,606 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total value of $176,595.76. Following the sale, the director now owns 218,246 shares in the company, valued at approximately $23,998,330.16. The trade was a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,538 shares of company stock worth $7,061,544. 7.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Snowflake

Several hedge funds and other institutional investors have recently bought and sold shares of SNOW. LRI Investments LLC acquired a new position in shares of Snowflake in the 1st quarter worth approximately $29,000. Wellington Shields Capital Management LLC acquired a new position in shares of Snowflake in the 2nd quarter worth approximately $27,000. Groupama Asset Managment acquired a new position in shares of Snowflake in the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC acquired a new position in shares of Snowflake in the 3rd quarter worth approximately $30,000. Finally, Global Financial Private Client LLC acquired a new position in shares of Snowflake in the 1st quarter worth approximately $44,000. 65.10% of the stock is currently 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.