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

Snowflake (NYSE:SNOW) was upgraded by analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Friday, Marketbeat reports. The firm presently has a $190.00 price objective on the stock. Barclays‘s price objective suggests a potential upside of 16.82% from the company’s previous close.

Several other brokerages have also recently issued reports on SNOW. Evercore ISI upped their target price on shares of Snowflake from $170.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Wedbush downgraded shares of Snowflake from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. DA Davidson reiterated a “buy” rating and set a $175.00 target price on shares of Snowflake in a research report on Thursday, October 3rd. Citigroup reduced their target price on Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a report on Monday, November 18th. Finally, Monness Crespi & Hardt raised their price target on Snowflake from $140.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $187.11.

Snowflake Price Performance

Shares of NYSE SNOW opened at $162.65 on Friday. The stock’s 50-day simple moving average is $156.42 and its 200-day simple moving average is $133.94. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market capitalization of $53.69 billion, a PE ratio of -47.98 and a beta of 1.05. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

Insider Buying and Selling

In other Snowflake news, Director Frank Slootman sold 100,000 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $155.00, for a total value of $15,500,000.00. Following the sale, the director now owns 195,281 shares of the company’s stock, valued at approximately $30,268,555. This represents a 33.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $180.00, for a total value of $2,700,000.00. Following the transaction, the executive vice president now directly owns 691,755 shares of the company’s stock, valued at $124,515,900. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 376,904 shares of company stock valued at $62,545,855. Corporate insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

Several large investors have recently modified their holdings of the business. RMR Wealth Builders purchased a new stake in Snowflake in the 4th quarter valued at approximately $216,000. ORG Partners LLC raised its holdings in shares of Snowflake by 7.4% in the fourth quarter. ORG Partners LLC now owns 2,761 shares of the company’s stock worth $426,000 after acquiring an additional 190 shares during the last quarter. Fulton Bank N.A. purchased a new stake in shares of Snowflake in the fourth quarter valued at $216,000. Diversified Trust Co boosted its stake in shares of Snowflake by 174.8% during the fourth quarter. Diversified Trust Co now owns 4,906 shares of the company’s stock valued at $758,000 after acquiring an additional 3,121 shares during the last quarter. Finally, Doliver Advisors LP increased its position in Snowflake by 268.7% during the 4th quarter. Doliver Advisors LP now owns 8,262 shares of the company’s stock worth $1,276,000 after purchasing an additional 6,021 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.