Lyell Wealth Management LP Buys 347 Shares of Snowflake Inc. (NYSE:SNOW)

Lyell Wealth Management LP raised its stake in Snowflake Inc. (NYSE:SNOW) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,730 shares of the company’s stock after purchasing an additional 347 shares during the quarter. Lyell Wealth Management LP’s holdings in Snowflake were worth $8,914,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Groupama Asset Managment acquired a new stake in shares of Snowflake in the third quarter valued at approximately $25,000. Stonebridge Financial Group LLC acquired a new stake in shares of Snowflake in the fourth quarter valued at approximately $29,000. V Square Quantitative Management LLC acquired a new stake in shares of Snowflake in the third quarter valued at approximately $30,000. Fortitude Family Office LLC acquired a new stake in shares of Snowflake in the third quarter valued at approximately $34,000. Finally, Perkins Coie Trust Co lifted its position in shares of Snowflake by 136.3% in the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after buying an additional 139 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Monness Crespi & Hardt raised their price objective on Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Scotiabank raised their price objective on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a research report on Monday, December 9th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Snowflake in a research report on Tuesday, November 19th. KeyCorp lifted their price target on Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Evercore ISI lifted their price target on Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average price target of $188.94.

Snowflake Stock Performance

Shares of SNOW stock opened at $192.91 on Wednesday. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $235.66. 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 stock’s fifty day simple moving average is $172.08 and its 200 day simple moving average is $142.71.

Insiders Place Their Bets

In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction dated 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 transaction, the executive now directly owns 311,999 shares of the company’s stock, valued at approximately $49,058,722.76. The trade was a 3.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Slootman sold 100,000 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $155.00, for a total value of $15,500,000.00. Following the completion of the transaction, the director now directly owns 195,281 shares in the company, valued at $30,268,555. This represents a 33.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 516,933 shares of company stock valued at $88,283,752. 7.80% of the stock is currently owned by company insiders.

Snowflake 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.