Loop Capital Increases Snowflake (NYSE:SNOW) Price Target to $205.00

Snowflake (NYSE:SNOW) had its target price upped by Loop Capital from $185.00 to $205.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Loop Capital’s price target suggests a potential upside of 23.28% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Wedbush cut shares of Snowflake from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 price target on shares of Snowflake in a research report on Tuesday, November 19th. Needham & Company LLC raised their price objective on Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. KeyCorp boosted their target price on shares of Snowflake from $185.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, Jefferies Financial Group raised their price objective on shares of Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat.com, Snowflake has an average rating of “Moderate Buy” and an average price target of $185.03.

Snowflake Stock Performance

NYSE:SNOW opened at $166.29 on Monday. Snowflake has a 1-year low of $107.13 and a 1-year high of $237.72. 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 stock has a market cap of $54.89 billion, a P/E ratio of -49.05 and a beta of 1.03. The stock’s 50-day moving average is $143.77 and its 200-day moving average is $130.62.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 6,714 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $171.00, for a total value of $1,148,094.00. Following the completion of the transaction, the director now owns 196,454 shares in the company, valued at $33,593,634. The trade was a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 3,029 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $171.00, for a total value of $517,959.00. Following the sale, the executive vice president now directly owns 684,639 shares in the company, valued at $117,073,269. This trade represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 291,753 shares of company stock valued at $48,247,621. Insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SNOW. State Street Corp boosted its stake in shares of Snowflake by 0.8% in the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after buying an additional 54,909 shares during the last quarter. Geode Capital Management LLC boosted its position in Snowflake by 3.5% in the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock worth $475,894,000 after purchasing an additional 138,663 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of Snowflake by 27.9% during the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock valued at $464,402,000 after purchasing an additional 881,700 shares during the period. Ontario Teachers Pension Plan Board increased its position in shares of Snowflake by 19,399.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock valued at $295,459,000 after purchasing an additional 2,559,144 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Snowflake by 11.5% in the 2nd quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after purchasing an additional 223,936 shares during the period. 65.10% of the stock is 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.