40,897 Shares in Snowflake Inc. (NYSE:SNOW) Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC acquired a new stake in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 40,897 shares of the company’s stock, valued at approximately $6,315,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its stake in shares of Snowflake by 73.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 792 shares of the company’s stock worth $91,000 after acquiring an additional 335 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new stake in shares of Snowflake in the third quarter valued at approximately $231,000. Fortitude Family Office LLC bought a new position in Snowflake in the 3rd quarter worth approximately $34,000. Ayalon Insurance Comp Ltd. lifted its holdings in Snowflake by 30.1% during the 3rd quarter. Ayalon Insurance Comp Ltd. now owns 19,552 shares of the company’s stock worth $2,246,000 after buying an additional 4,522 shares in the last quarter. Finally, AM Investment Strategies LLC acquired a new position in Snowflake during the 3rd quarter worth $233,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SNOW shares. JMP Securities reissued a “market outperform” rating and issued a $190.00 target price on shares of Snowflake in a research note on Tuesday, December 3rd. Evercore ISI lifted their price objective on Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Oppenheimer upped their target price on shares of Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, January 13th. BTIG Research raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research note on Thursday, February 20th. Finally, Citigroup boosted their price target on shares of Snowflake from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Snowflake currently has a consensus rating of “Moderate Buy” and an average target price of $196.19.

Insider Buying and Selling at Snowflake

In related news, Director Frank Slootman sold 100,000 shares of Snowflake stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $155.00, for a total value of $15,500,000.00. Following the sale, the director now owns 195,281 shares of the company’s stock, valued at approximately $30,268,555. The trade was a 33.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated 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 owns 552,930 shares in the company, valued at $103,121,445. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 371,810 shares of company stock worth $63,340,544. Corporate insiders own 7.80% of the company’s stock.

Snowflake Stock Up 1.2 %

SNOW stock opened at $166.20 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market capitalization of $54.86 billion, a P/E ratio of -49.03 and a beta of 1.07. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $235.66. The business has a 50-day moving average of $172.79 and a 200-day moving average of $144.94.

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.