Snowflake (NYSE:SNOW) Stock Rating Upgraded by Barclays

Snowflake (NYSE:SNOW) was upgraded by research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a report released on Friday,Briefing.com Automated Import reports. The brokerage presently has a $190.00 price objective on the stock. Barclays‘s target price suggests a potential upside of 17.90% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. Loop Capital raised their price objective on shares of Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Mizuho raised their price target on Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Piper Sandler upped their price objective on Snowflake from $185.00 to $208.00 and gave the stock an “overweight” rating in a report on Monday. Wells Fargo & Company raised Snowflake from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $150.00 to $200.00 in a report on Tuesday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 target price on shares of Snowflake in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $187.11.

Snowflake Stock Up 1.5 %

SNOW stock opened at $161.16 on Friday. Snowflake has a 1-year low of $107.13 and a 1-year high of $237.72. The stock has a market cap of $53.20 billion, a price-to-earnings ratio of -47.54 and a beta of 1.05. 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’s 50 day moving average is $155.48 and its 200 day moving average is $133.61.

Insiders Place Their Bets

In related news, Director Frank Slootman sold 100,000 shares of the business’s 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 owns 195,281 shares of the company’s stock, valued at $30,268,555. The trade was a 33.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the transaction, the executive vice president now owns 691,755 shares of the company’s stock, valued at $124,515,900. The trade was a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 376,904 shares of company stock worth $62,545,855. Company insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

A number of hedge funds have recently made changes to their positions in SNOW. Modus Advisors LLC boosted its holdings in Snowflake by 3.9% in the third quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after acquiring an additional 94 shares in the last quarter. Catalyst Private Wealth LLC raised its position in shares of Snowflake by 3.2% in the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after purchasing an additional 104 shares during the last quarter. Clear Creek Financial Management LLC boosted its stake in Snowflake by 6.7% in the 3rd quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company’s stock worth $210,000 after purchasing an additional 115 shares in the last quarter. Covestor Ltd grew its position in Snowflake by 16.2% during the 3rd quarter. Covestor Ltd now owns 827 shares of the company’s stock valued at $95,000 after purchasing an additional 115 shares during the last quarter. Finally, Alta Wealth Advisors LLC grew its position in Snowflake by 3.9% during the 3rd quarter. Alta Wealth Advisors LLC now owns 3,210 shares of the company’s stock valued at $369,000 after purchasing an additional 121 shares during the last quarter. 65.10% of the stock is 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.