UBS Group Issues Positive Forecast for Snowflake (NYSE:SNOW) Stock Price

Snowflake (NYSE:SNOW) had its price target boosted by UBS Group from $190.00 to $200.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities research analysts also recently issued reports about the company. Bank of America lifted their price objective on Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. JMP Securities restated a “market outperform” rating and issued a $190.00 price target on shares of Snowflake in a research note on Tuesday, December 3rd. Wedbush set a $210.00 price target on shares of Snowflake in a report on Wednesday, January 22nd. Loop Capital raised their price objective on shares of Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Finally, BTIG Research raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.92.

Snowflake Stock Up 4.6 %

Shares of NYSE SNOW opened at $173.78 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake has a 1 year low of $107.13 and a 1 year high of $233.88. The stock’s 50-day simple moving average is $172.98 and its 200-day simple moving average is $145.14. The firm has a market cap of $57.36 billion, a price-to-earnings ratio of -51.26 and a beta of 1.07.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 100,000 shares of Snowflake stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the sale, the director now directly owns 195,281 shares in the company, valued at $30,268,555. The trade was a 33.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the transaction, the executive vice president now owns 552,930 shares of the company’s stock, valued at $103,121,445. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 312,193 shares of company stock worth $52,833,048 in the last three months. 7.80% of the stock is owned by company insiders.

Institutional Trading of Snowflake

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Groupama Asset Managment bought a new position in shares of Snowflake in the third quarter valued at approximately $25,000. Stonebridge Financial Group LLC acquired a new stake in Snowflake in the fourth quarter worth approximately $29,000. West Paces Advisors Inc. bought a new position in Snowflake during the 4th quarter valued at $31,000. Spurstone Advisory Services LLC acquired a new position in shares of Snowflake during the 4th quarter valued at $31,000. Finally, Capital A Wealth Management LLC bought a new stake in shares of Snowflake in the 4th quarter worth $31,000. 65.10% of the stock is currently owned by 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.