Barclays Boosts Snowflake (NYSE:SNOW) Price Target to $172.00

Snowflake (NYSE:SNOW) had its price objective raised by Barclays from $142.00 to $172.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research firms have also recently issued reports on SNOW. Morgan Stanley restated an “equal weight” rating and set a $175.00 price target on shares of Snowflake in a report on Thursday, August 22nd. Rosenblatt Securities restated a “buy” rating and set a $180.00 price target on shares of Snowflake in a report on Tuesday, November 19th. Scotiabank cut their price target on Snowflake from $195.00 to $165.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 22nd. Wedbush upgraded Snowflake to a “hold” rating in a report on Thursday, October 17th. Finally, StockNews.com upgraded Snowflake from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $180.23.

Snowflake Stock Performance

Snowflake stock opened at $167.44 on Thursday. The stock has a market capitalization of $56.13 billion, a price-to-earnings ratio of -49.39 and a beta of 0.83. Snowflake has a 52-week low of $107.13 and a 52-week high of $237.72. The stock’s 50 day moving average price is $120.06 and its two-hundred day moving average price is $127.80.

Insider Activity

In other news, insider Benoit Dageville sold 1,946 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $114.39, for a total transaction of $222,602.94. Following the completion of the transaction, the insider now owns 53,820 shares in the company, valued at approximately $6,156,469.80. This represents a 3.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 1,606 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $109.96, for a total value of $176,595.76. Following the transaction, the director now owns 218,246 shares of the company’s stock, valued at $23,998,330.16. The trade was a 0.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,538 shares of company stock valued at $7,061,544 in the last ninety days. 7.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Westside Investment Management Inc. grew its stake in shares of Snowflake by 47.4% during the 3rd quarter. Westside Investment Management Inc. now owns 12,344 shares of the company’s stock worth $1,438,000 after acquiring an additional 3,971 shares during the period. Rehmann Capital Advisory Group grew its stake in shares of Snowflake by 10.9% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,932 shares of the company’s stock worth $222,000 after acquiring an additional 190 shares during the period. Sunbelt Securities Inc. grew its stake in shares of Snowflake by 2.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 5,535 shares of the company’s stock worth $636,000 after acquiring an additional 142 shares during the period. Toronto Dominion Bank grew its stake in shares of Snowflake by 24.1% during the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after acquiring an additional 7,239 shares during the period. Finally, Shaolin Capital Management LLC bought a new position in Snowflake in the 3rd quarter worth about $345,000. Institutional investors own 65.10% of the company’s stock.

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.