Mutual Advisors LLC Makes New Investment in Snowflake Inc. (NYSE:SNOW)

Mutual Advisors LLC bought a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,778 shares of the company’s stock, valued at approximately $298,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC raised its stake in shares of Snowflake by 28.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 43,877 shares of the company’s stock worth $6,775,000 after buying an additional 9,784 shares during the period. Westside Investment Management Inc. increased its holdings in Snowflake by 1.9% in the 4th quarter. Westside Investment Management Inc. now owns 12,574 shares of the company’s stock worth $1,942,000 after acquiring an additional 230 shares in the last quarter. Dakota Wealth Management acquired a new position in Snowflake during the fourth quarter worth $3,729,000. Nisa Investment Advisors LLC lifted its holdings in Snowflake by 31.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,035 shares of the company’s stock valued at $314,000 after purchasing an additional 490 shares in the last quarter. Finally, Red Spruce Capital LLC grew its position in shares of Snowflake by 3.0% in the fourth quarter. Red Spruce Capital LLC now owns 13,620 shares of the company’s stock valued at $2,103,000 after purchasing an additional 393 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SNOW shares. TD Cowen lifted their price target on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 target price on shares of Snowflake in a research note on Tuesday, November 19th. Scotiabank increased their target price on shares of Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research report on Monday, December 9th. Cantor Fitzgerald assumed coverage on shares of Snowflake in a research report on Friday, January 17th. They set an “overweight” rating and a $201.00 price target on the stock. Finally, Jefferies Financial Group increased their price objective on shares of Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $188.06.

Snowflake Stock Performance

Shares of SNOW opened at $187.89 on Wednesday. The company has a market cap of $62.02 billion, a PE ratio of -55.42 and a beta of 1.05. The firm has a 50-day moving average of $166.79 and a 200-day moving average of $136.37. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 45,896 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $176.06, for a total value of $8,080,449.76. Following the sale, the director now directly owns 208,735 shares of the company’s stock, valued at $36,749,884.10. This trade represents a 18.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $179.00, for a total transaction of $99,882.00. Following the transaction, the executive vice president now owns 690,647 shares of the company’s stock, valued at approximately $123,625,813. This represents a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 504,151 shares of company stock worth $84,973,139 over the last quarter. Company insiders own 7.80% 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.