Snowflake (NYSE:SNOW) Rating Increased to Overweight at Barclays

Barclays upgraded shares of Snowflake (NYSE:SNOW) from an equal weight rating to an overweight rating in a research note released on Friday morning, MarketBeat Ratings reports. Barclays currently has $190.00 target price on the stock.

SNOW has been the topic of a number of other research reports. Argus initiated coverage on shares of Snowflake in a report on Tuesday, October 1st. They issued a “hold” rating on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 target price on shares of Snowflake in a research note on Tuesday, November 19th. Jefferies Financial Group raised their price target on Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Loop Capital upped their price objective on Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Finally, Truist Financial reissued a “buy” rating and set a $210.00 price objective on shares of Snowflake in a report on Thursday, November 21st. 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 stock. According to MarketBeat, Snowflake presently has a consensus rating of “Moderate Buy” and an average target price of $187.11.

Snowflake Stock Up 1.0 %

SNOW stock opened at $162.65 on Friday. The company’s 50 day moving average is $156.42 and its 200 day moving average is $133.87. The stock has a market cap of $53.69 billion, a price-to-earnings ratio of -47.98 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. Snowflake has a 1-year low of $107.13 and a 1-year high of $237.72.

Insiders Place Their Bets

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 completion of the transaction, the director now directly owns 195,281 shares of the company’s stock, valued at $30,268,555. This trade represents a 33.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 558 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total transaction of $99,882.00. Following the transaction, the executive vice president now directly owns 690,647 shares of the company’s stock, valued at $123,625,813. This represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 376,904 shares of company stock worth $62,545,855 over the last three months. 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 the stock. 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 increased its stake 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 in the last quarter. 65.10% of the stock is owned by institutional investors.

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.