L & S Advisors Inc Takes Position in Snowflake Inc. (NYSE:SNOW)

L & S Advisors Inc purchased a new position 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 fund purchased 8,512 shares of the company’s stock, valued at approximately $1,314,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SNOW. Toronto Dominion Bank lifted its stake in shares of Snowflake by 24.1% in the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after acquiring an additional 7,239 shares in the last quarter. Prospect Financial Services LLC purchased a new stake in Snowflake during the 4th quarter worth approximately $288,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Snowflake by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after purchasing an additional 8,857 shares in the last quarter. Bourgeon Capital Management LLC purchased a new position in shares of Snowflake during the 4th quarter valued at approximately $5,851,000. Finally, Stephens Consulting LLC grew its position in shares of Snowflake by 7,407.4% during the fourth quarter. Stephens Consulting LLC now owns 2,027 shares of the company’s stock worth $313,000 after buying an additional 2,000 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on SNOW. Canaccord Genuity Group increased their price objective on shares of Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. BTIG Research upgraded Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a research note on Thursday, February 20th. Guggenheim restated a “neutral” rating on shares of Snowflake in a research note on Thursday, February 27th. Wells Fargo & Company lifted their target price on Snowflake from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Finally, UBS Group upped their price target on Snowflake from $190.00 to $200.00 and gave the company a “neutral” rating in a research 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. According to MarketBeat, Snowflake currently has an average rating of “Moderate Buy” and a consensus price target of $205.08.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the transaction, the executive vice president now directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank Slootman sold 100,000 shares of the 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 completion of the sale, the director now directly owns 195,281 shares of the company’s stock, valued at approximately $30,268,555. This represents a 33.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 603,968 shares of company stock valued at $99,863,550. 7.80% of the stock is owned by corporate insiders.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $150.60 on Friday. The stock’s fifty day simple moving average is $171.99 and its 200 day simple moving average is $151.30. The stock has a market capitalization of $49.71 billion, a price-to-earnings ratio of -44.42 and a beta of 1.07. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40.

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.