Barclays Increases Snowflake (NYSE:SNOW) Price Target to $203.00

Snowflake (NYSE:SNOW) had its price target hoisted by Barclays from $190.00 to $203.00 in a research note published on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

SNOW has been the subject of several other research reports. Scotiabank lifted their target price on Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. Monness Crespi & Hardt lifted their target price on Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday. KeyCorp lifted their target price on Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Needham & Company LLC lifted their target price on Snowflake from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, JMP Securities reiterated a “market outperform” rating and issued a $190.00 target price on shares of Snowflake in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $202.92.

Snowflake Price Performance

SNOW stock opened at $176.76 on Thursday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake has a 52-week low of $107.13 and a 52-week high of $194.40. The stock’s 50 day moving average is $173.19 and its two-hundred day moving average is $145.64. The company has a market capitalization of $58.35 billion, a PE ratio of -52.14 and a beta of 1.07.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 127,247 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the sale, the director now directly owns 195,281 shares of the company’s stock, valued at $34,418,276.25. The trade was a 39.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the sale, the executive vice president now directly owns 552,930 shares in the company, valued at $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 312,193 shares of company stock valued at $52,833,048. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Snowflake

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Asset Dedication LLC raised its position in shares of Snowflake by 6.8% during the fourth quarter. Asset Dedication LLC now owns 922 shares of the company’s stock worth $142,000 after purchasing an additional 59 shares during the period. Quarry LP raised its position in Snowflake by 9.8% during the fourth quarter. Quarry LP now owns 662 shares of the company’s stock valued at $102,000 after buying an additional 59 shares during the period. Breakwater Capital Group raised its position in Snowflake by 2.2% during the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock valued at $454,000 after buying an additional 62 shares during the period. Gabelli Funds LLC raised its position in Snowflake by 3.3% during the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company’s stock valued at $317,000 after buying an additional 65 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich raised its position in Snowflake by 0.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock valued at $2,077,000 after buying an additional 69 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

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.