805,860 Shares in Snowflake Inc. (NYSE:SNOW) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in Snowflake Inc. (NYSE:SNOW) during the fourth quarter, HoldingsChannel reports. The fund purchased 805,860 shares of the company’s stock, valued at approximately $124,433,000.

Other large investors also recently added to or reduced their stakes in the company. Groupama Asset Managment purchased a new position in Snowflake in the 3rd quarter worth approximately $25,000. Stonebridge Financial Group LLC bought a new stake in Snowflake in the 4th quarter worth approximately $29,000. Perkins Coie Trust Co increased its stake in Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after acquiring an additional 139 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in Snowflake in the 4th quarter worth approximately $38,000. Finally, Geneos Wealth Management Inc. increased its stake in Snowflake by 1,437.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock worth $38,000 after acquiring an additional 230 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Price Performance

Shares of SNOW stock opened at $158.54 on Friday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40. The stock has a market capitalization of $52.33 billion, a price-to-earnings ratio of -46.77 and a beta of 1.07. The stock has a fifty day simple moving average of $173.79 and a two-hundred day simple moving average of $147.00. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SNOW shares. Wells Fargo & Company lifted their price objective on Snowflake from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Stifel Nicolaus lifted their price objective on Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Scotiabank lifted their price objective on 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 boosted their target price on Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Finally, Piper Sandler boosted their target price on Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $202.92.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 558 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 690,647 shares in the company, valued at $123,625,813. This represents a 0.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Emily Ho sold 1,508 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total value of $246,060.36. Following the sale, the chief accounting officer now owns 44,760 shares of the company’s stock, valued at $7,303,489.20. This trade represents a 3.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 297,193 shares of company stock worth $50,096,313. 7.80% of the stock is currently owned by company insiders.

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.