Snowflake (NYSE:SNOW) Upgraded by Barclays to “Overweight” Rating

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

A number of other analysts also recently issued reports on SNOW. Jefferies Financial Group raised their price target on shares of Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 16th. StockNews.com upgraded shares of Snowflake from a “sell” rating to a “hold” rating in a report on Wednesday. DA Davidson reiterated a “buy” rating and set a $175.00 target price on shares of Snowflake in a research note on Thursday, October 3rd. Citigroup dropped their price target on Snowflake from $200.00 to $183.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $180.00 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 issued a hold rating and twenty-eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $187.11.

Snowflake Trading Up 1.0 %

Snowflake stock opened at $162.65 on Friday. Snowflake has a one year low of $107.13 and a one year high of $237.72. The business’s fifty day moving average is $156.42 and its 200 day moving average is $133.87. The stock has a market capitalization of $53.69 billion, a PE ratio of -47.98 and a beta of 1.05. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Insiders Place Their Bets

In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the sale, the executive vice president now directly owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. The trade was a 2.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 100,000 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the transaction, the director now directly owns 195,281 shares of the company’s stock, valued at approximately $30,268,555. The trade was a 33.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 376,904 shares of company stock worth $62,545,855 in the last 90 days. 7.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Groupama Asset Managment bought a new position in Snowflake during the third quarter valued at $25,000. V Square Quantitative Management LLC purchased a new stake in shares of Snowflake during the 3rd quarter valued at about $30,000. Fortitude Family Office LLC bought a new position in shares of Snowflake in the 3rd quarter valued at about $34,000. Larson Financial Group LLC grew its position in Snowflake by 81.3% in the third quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock worth $39,000 after acquiring an additional 152 shares in the last quarter. Finally, Waldron Private Wealth LLC bought a new stake in Snowflake during the third quarter worth approximately $40,000. 65.10% of the stock is owned by hedge funds and other 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.