SPX Gestao de Recursos Ltda Purchases Shares of 20,000 Snowflake Inc. (NYSE:SNOW)

SPX Gestao de Recursos Ltda purchased a new stake in Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 20,000 shares of the company’s stock, valued at approximately $3,088,000.

Several other large investors have also recently bought and sold shares of SNOW. Toronto Dominion Bank increased its holdings in shares of Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after purchasing an additional 7,239 shares during the period. Prospect Financial Services LLC bought a new position in shares of Snowflake during the fourth quarter worth approximately $288,000. Independent Advisor Alliance increased its holdings in shares of Snowflake by 15.5% during the third quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after purchasing an additional 548 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Snowflake by 1.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock worth $104,028,000 after purchasing an additional 8,857 shares during the period. Finally, Bourgeon Capital Management LLC bought a new position in shares of Snowflake during the fourth quarter worth approximately $5,851,000. 65.10% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Frank Slootman sold 100,000 shares of Snowflake stock in a transaction on Monday, December 30th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the completion of the transaction, the director now owns 195,281 shares of the company’s stock, valued at $30,268,555. This trade represents a 33.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christian Kleinerman sold 861 shares of Snowflake stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $165.31, for a total transaction of $142,331.91. Following the transaction, the executive vice president now directly owns 582,930 shares of the company’s stock, valued at $96,364,158.30. This represents a 0.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 294,923 shares of company stock valued at $49,689,983 over the last quarter. Insiders own 7.80% of the company’s stock.

Snowflake Price Performance

SNOW stock opened at $147.38 on Tuesday. The company has a fifty day moving average price of $173.64 and a 200-day moving average price of $147.31. The company has a market capitalization of $48.65 billion, a P/E ratio of -43.47 and a beta of 1.07. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Rosenblatt Securities raised their target price on shares of Snowflake from $186.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Wedbush set a $210.00 target price on shares of Snowflake in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Jefferies Financial Group increased their price target on shares of Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Bank of America increased their price target on shares of Snowflake from $185.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $202.92.

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.