First American Trust FSB Invests $3.12 Million in Snowflake Inc. (NYSE:SNOW)

First American Trust FSB purchased a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,233 shares of the company’s stock, valued at approximately $3,124,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Asset Dedication LLC grew its position in Snowflake by 6.8% in the 4th quarter. Asset Dedication LLC now owns 922 shares of the company’s stock valued at $142,000 after buying an additional 59 shares in the last quarter. Breakwater Capital Group boosted its holdings in shares of Snowflake by 2.2% in the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock valued at $454,000 after acquiring an additional 62 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Snowflake by 0.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company’s stock valued at $2,077,000 after acquiring an additional 69 shares during the period. Larson Financial Group LLC raised its holdings in Snowflake by 21.8% during the fourth quarter. Larson Financial Group LLC now owns 413 shares of the company’s stock worth $64,000 after purchasing an additional 74 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in Snowflake by 31.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock worth $59,000 after purchasing an additional 90 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Stock Up 3.1 %

SNOW opened at $163.36 on Tuesday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The company has a market capitalization of $53.93 billion, a P/E ratio of -48.19 and a beta of 1.07. 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 firm’s fifty day moving average price is $172.76 and its two-hundred day moving average price is $150.25.

Analysts Set New Price Targets

A number of research firms recently issued reports on SNOW. Wolfe Research raised Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 target price on the stock in a report on Tuesday, February 18th. BTIG Research raised shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a research note on Thursday, February 20th. Guggenheim reissued a “neutral” rating on shares of Snowflake in a research note on Thursday, February 27th. Loop Capital lifted their target price on Snowflake from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Finally, Monness Crespi & Hardt raised their price target on shares of Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.08.

Insider Transactions at Snowflake

In other news, Director Frank Slootman sold 7,016 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $155.69, for a total transaction of $1,092,321.04. Following the completion of the sale, the director now owns 182,999 shares of the company’s stock, valued at approximately $28,491,114.31. This trade represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 552,930 shares in the company, valued at $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 303,968 shares of company stock valued at $50,900,550. Company insiders own 7.80% of the company’s stock.

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.