Truist Financial Lowers Snowflake (NYSE:SNOW) Price Target to $210.00

Snowflake (NYSE:SNOW) had its price objective dropped by investment analysts at Truist Financial from $225.00 to $210.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 40.42% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on SNOW. Piper Sandler boosted their price target on shares of Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Citigroup upped their target price on Snowflake from $225.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Stifel Nicolaus lifted their price target on Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. KeyCorp boosted their price objective on Snowflake from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Finally, Wedbush set a $210.00 target price on shares of Snowflake in a research report on Wednesday, January 22nd. Nine research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $204.14.

Snowflake Stock Up 2.3 %

Shares of NYSE:SNOW opened at $149.56 on Monday. The firm has a 50 day simple moving average of $171.02 and a 200-day simple moving average of $152.07. Snowflake has a twelve month low of $107.13 and a twelve month high of $194.40. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $49.37 billion, a PE ratio of -44.12 and a beta of 1.07.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 127,247 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the sale, the director now owns 195,281 shares in the company, valued at approximately $34,418,276.25. This trade represents a 39.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the transaction, the chief financial officer now owns 292,610 shares of the company’s stock, valued at $47,756,878.10. This trade represents a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 503,968 shares of company stock valued at $84,363,550 over the last three months. 7.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snowflake

Hedge funds have recently made changes to their positions in the business. Neville Rodie & Shaw Inc. lifted its position in Snowflake by 30.5% during the first quarter. Neville Rodie & Shaw Inc. now owns 2,610 shares of the company’s stock worth $381,000 after buying an additional 610 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of Snowflake by 77.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 337 shares of the company’s stock worth $49,000 after acquiring an additional 147 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Snowflake by 1,325.2% in the fourth quarter. Wellington Management Group LLP now owns 108,527 shares of the company’s stock worth $16,758,000 after acquiring an additional 100,912 shares during the last quarter. 111 Capital acquired a new position in Snowflake during the fourth quarter worth approximately $578,000. Finally, NorthCrest Asset Manangement LLC increased its position in Snowflake by 12.7% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 7,785 shares of the company’s stock worth $1,202,000 after purchasing an additional 875 shares during 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.