Variant Private Wealth LLC Buys New Position in Snowflake Inc. (NYSE:SNOW)

Variant Private Wealth LLC bought a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,417 shares of the company’s stock, valued at approximately $836,000. Snowflake makes up approximately 0.8% of Variant Private Wealth LLC’s portfolio, making the stock its 26th biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNOW. Outfitter Financial LLC lifted its position in Snowflake by 3.2% during the fourth quarter. Outfitter Financial LLC now owns 6,365 shares of the company’s stock valued at $983,000 after buying an additional 200 shares during the period. Bray Capital Advisors bought a new position in shares of Snowflake during the fourth quarter valued at $926,000. Prakash Investment Advisors LLC bought a new position in shares of Snowflake during the fourth quarter valued at $480,000. Handelsbanken Fonder AB increased its holdings in shares of Snowflake by 3.2% during the fourth quarter. Handelsbanken Fonder AB now owns 125,796 shares of the company’s stock valued at $19,424,000 after acquiring an additional 3,923 shares in the last quarter. Finally, Wealth Alliance increased its holdings in shares of Snowflake by 9.9% during the fourth quarter. Wealth Alliance now owns 2,221 shares of the company’s stock valued at $343,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Insider Buying and Selling

In other news, CRO Christopher William Degnan sold 12,782 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the transaction, the executive now owns 308,164 shares of the company’s stock, valued at approximately $56,045,786.68. The trade was a 3.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the transaction, the executive vice president now directly owns 552,930 shares in the company, valued at approximately $103,121,445. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 394,345 shares of company stock valued at $67,286,835. Corporate insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SNOW shares. Deutsche Bank Aktiengesellschaft raised their price target on Snowflake from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Needham & Company LLC raised their price target on Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Wedbush upgraded Snowflake from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 21st. Evercore ISI raised their price target on Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Jefferies Financial Group lifted their price objective on Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $192.89.

Snowflake Price Performance

NYSE SNOW opened at $177.79 on Friday. The stock’s 50 day moving average is $172.88 and its 200 day moving average is $143.76. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $235.66.

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.