Snowflake (NYSE:SNOW) Raised to Overweight at Barclays

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

SNOW has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Truist Financial reaffirmed a “buy” rating and issued a $210.00 target price on shares of Snowflake in a report on Thursday, November 21st. Evercore ISI upped their price target on shares of Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Loop Capital upped their price objective on Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Finally, Jefferies Financial Group raised their target price on shares of Snowflake from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-eight have assigned a buy rating to the company’s stock. According to MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.11.

Snowflake Price Performance

Shares of NYSE:SNOW opened at $161.16 on Friday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake has a twelve month low of $107.13 and a twelve month high of $237.72. The stock has a market capitalization of $53.20 billion, a PE ratio of -47.54 and a beta of 1.05. The firm’s 50 day moving average price is $155.48 and its 200-day moving average price is $133.61.

Insiders Place Their Bets

In other news, Director Frank Slootman sold 45,896 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $176.06, for a total value of $8,080,449.76. Following the completion of the transaction, the director now owns 208,735 shares of the company’s stock, valued at $36,749,884.10. The trade was a 18.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Christopher William Degnan sold 12,782 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total value of $2,009,841.68. Following the completion of the sale, the executive now owns 311,999 shares in the company, valued at $49,058,722.76. The trade was a 3.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 376,904 shares of company stock valued at $62,545,855. Insiders own 7.80% of the company’s stock.

Hedge Funds Weigh In On Snowflake

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

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.