IPG Investment Advisors LLC Acquires New Stake in Snowflake Inc. (NYSE:SNOW)

IPG Investment Advisors LLC bought a new position in shares of Snowflake Inc. (NYSE:SNOW) during the 4th quarter, Holdings Channel.com reports. The firm bought 2,345 shares of the company’s stock, valued at approximately $362,000.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on SNOW shares. Jefferies Financial Group upped their price target on shares of Snowflake from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 21st. KeyCorp lifted their target price on Snowflake from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. UBS Group increased their price target on Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. Truist Financial reiterated a “buy” rating and issued a $225.00 price objective (up previously from $210.00) on shares of Snowflake in a research note on Thursday, February 27th. Finally, StockNews.com raised shares of Snowflake from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Nine analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Snowflake presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.08.

Snowflake Stock Down 4.1 %

SNOW stock opened at $150.60 on Friday. The stock has a market cap of $49.71 billion, a P/E ratio of -44.42 and a beta of 1.07. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock’s fifty day simple moving average is $171.99 and its two-hundred day simple moving average is $151.30. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40.

Insider Buying and Selling

In other Snowflake news, 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 transaction, the director now directly owns 195,281 shares in the company, valued at $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 is available through the SEC website. Also, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at $47,756,878.10. This trade represents a 50.62 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 603,968 shares of company stock valued at $99,863,550. 7.80% of the stock is owned by insiders.

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.