Grant Private Wealth Management Inc Makes New Investment in Snowflake Inc. (NYSE:SNOW)

Grant Private Wealth Management Inc acquired a new position in Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,096 shares of the company’s stock, valued at approximately $487,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Groupama Asset Managment acquired a new stake in shares of Snowflake in the third quarter worth $25,000. Stonebridge Financial Group LLC purchased a new position in Snowflake in the fourth quarter valued at about $29,000. Blue Bell Private Wealth Management LLC raised its position in Snowflake by 189.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock valued at $34,000 after purchasing an additional 144 shares during the period. Perkins Coie Trust Co boosted its position in shares of Snowflake by 136.3% in the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after buying an additional 139 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new stake in Snowflake in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Activity at Snowflake

In related news, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the transaction, the chief financial officer now directly owns 292,610 shares in the company, valued at $47,756,878.10. The trade was a 50.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frank Slootman sold 1,783 shares of Snowflake stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $262,528.92. Following the completion of the transaction, the director now directly owns 192,511 shares in the company, valued at $28,345,319.64. This represents a 0.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 491,186 shares of company stock valued at $82,353,709 over the last 90 days. 7.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SNOW shares. Wolfe Research upgraded shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price objective on the stock in a report on Tuesday, February 18th. Daiwa Capital Markets began coverage on Snowflake in a research report on Tuesday. They issued a “buy” rating and a $210.00 target price on the stock. Guggenheim reiterated a “neutral” rating on shares of Snowflake in a research note on Thursday, February 27th. Wells Fargo & Company lifted their price target on shares of Snowflake from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, Evercore ISI raised their price objective on shares of Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $203.05.

Snowflake Stock Performance

SNOW opened at $154.23 on Thursday. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. The company has a market capitalization of $50.91 billion, a price-to-earnings ratio of -45.50 and a beta of 1.07. The business has a 50 day moving average price of $170.55 and a two-hundred day moving average price of $152.08. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.

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.