Snowflake (NYSE:SNOW) Stock Rating Upgraded by Barclays

Snowflake (NYSE:SNOW) was upgraded by equities research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The firm currently has a $190.00 price objective on the stock. Barclays‘s target price would suggest a potential upside of 16.82% from the company’s current price.

SNOW has been the topic of several other reports. Bank of America raised their price objective on Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Scotiabank boosted their target price on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. Royal Bank of Canada raised their price target on shares of Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Argus began coverage on Snowflake in a report on Tuesday, October 1st. They set a “hold” rating for the company. Finally, Monness Crespi & Hardt lifted 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 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $187.11.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $162.65 on Friday. The company 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 quick ratio of 1.88 and a current ratio of 1.88. The company’s fifty day moving average price is $156.42 and its 200 day moving average price is $133.94. Snowflake has a 1 year low of $107.13 and a 1 year high of $237.72.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the sale, the executive vice president now directly owns 691,755 shares of the company’s stock, valued at $124,515,900. This represents a 2.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $157.24, for a total transaction of $2,009,841.68. Following the sale, the executive now owns 311,999 shares in the company, valued at approximately $49,058,722.76. This trade represents a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 376,904 shares of company stock worth $62,545,855 over the last ninety days. Corporate insiders own 7.80% of the company’s stock.

Institutional Trading of Snowflake

A number of large investors have recently modified their holdings of the stock. State Street Corp grew its stake in Snowflake by 0.8% during the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after purchasing an additional 54,909 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Snowflake by 3.5% during the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock worth $475,894,000 after buying an additional 138,663 shares during the period. Two Sigma Advisers LP increased its stake in shares of Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after buying an additional 881,700 shares during the period. Ontario Teachers Pension Plan Board lifted its stake in Snowflake by 19,399.2% in the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after acquiring an additional 2,559,144 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Snowflake by 11.5% in the second quarter. Legal & General Group Plc now owns 2,175,131 shares of the company’s stock worth $293,838,000 after acquiring an additional 223,936 shares during the last quarter. Hedge funds and other 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.