UBS Group Trims Snowflake (NYSE:SNOW) Target Price to $125.00

Snowflake (NYSE:SNOW) had its price objective cut by UBS Group from $155.00 to $125.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts also recently issued reports on the stock. Mizuho lowered their price target on shares of Snowflake from $205.00 to $180.00 and set a buy rating for the company in a report on Wednesday, June 5th. Hsbc Global Res upgraded shares of Snowflake from a moderate sell rating to a hold rating in a research note on Friday, August 23rd. DA Davidson dropped their target price on Snowflake from $230.00 to $175.00 and set a buy rating on the stock in a report on Thursday, August 22nd. Robert W. Baird decreased 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. Finally, Royal Bank of Canada lowered their price objective on Snowflake from $226.00 to $183.00 and set an outperform rating for the company in a research report on Wednesday, June 5th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $175.17.

Snowflake Trading Down 0.2 %

Shares of NYSE SNOW opened at $112.43 on Tuesday. The stock has a market cap of $37.69 billion, a P/E ratio of -40.15 and a beta of 0.83. The business’s fifty day simple moving average is $119.54 and its 200-day simple moving average is $138.25. Snowflake has a 12-month low of $107.13 and a 12-month high of $237.72.

Snowflake (NYSE:SNOW) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative return on equity of 19.62% and a negative net margin of 31.73%. The company had revenue of $868.80 million for the quarter, compared to analyst estimates of $851.72 million. During the same quarter last year, the company earned ($0.52) EPS. Snowflake’s revenue for the quarter was up 28.9% compared to the same quarter last year. On average, equities analysts forecast that Snowflake will post -2.41 EPS for the current fiscal year.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $176,595.76. Following the sale, the director now directly owns 218,246 shares in the company, valued at $23,998,330.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Snowflake news, Director Teresa Briggs sold 848 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $142.98, for a total value of $121,247.04. Following the completion of the transaction, the director now directly owns 4,247 shares of the company’s stock, valued at $607,236.06. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Frank Slootman sold 1,606 shares of Snowflake stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $109.96, for a total transaction of $176,595.76. Following the sale, the director now owns 218,246 shares of the company’s stock, valued at $23,998,330.16. The disclosure for this sale can be found here. In the last three months, insiders sold 45,386 shares of company stock valued at $5,715,941. Corporate insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of Snowflake by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 199,474 shares of the company’s stock valued at $39,697,000 after buying an additional 10,575 shares in the last quarter. D.A. Davidson & CO. increased its holdings in Snowflake by 18.1% during the 4th quarter. D.A. Davidson & CO. now owns 4,847 shares of the company’s stock valued at $965,000 after acquiring an additional 744 shares in the last quarter. Corient Private Wealth LLC raised its position in Snowflake by 14.1% during the fourth quarter. Corient Private Wealth LLC now owns 18,904 shares of the company’s stock worth $3,762,000 after acquiring an additional 2,332 shares during the last quarter. Assetmark Inc. raised its position in Snowflake by 13.8% during the fourth quarter. Assetmark Inc. now owns 2,858 shares of the company’s stock worth $569,000 after acquiring an additional 346 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Snowflake by 0.3% in the fourth quarter. US Bancorp DE now owns 35,438 shares of the company’s stock valued at $7,052,000 after purchasing an additional 99 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

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.