5,010 Shares in Snowflake Inc. (NYSE:SNOW) Acquired by Smith Group Asset Management LLC

Smith Group Asset Management LLC bought a new stake in shares of Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,010 shares of the company’s stock, valued at approximately $774,000.

A number of other institutional investors also recently added to or reduced their stakes in SNOW. Toronto Dominion Bank raised its stake in shares of Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after purchasing an additional 7,239 shares in the last quarter. Prospect Financial Services LLC acquired a new position in Snowflake during the 4th quarter valued at about $288,000. Independent Advisor Alliance raised its position in shares of Snowflake by 15.5% during the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after buying an additional 548 shares in the last quarter. Bourgeon Capital Management LLC acquired a new stake in shares of Snowflake in the 4th quarter worth approximately $5,851,000. Finally, Franklin Resources Inc. boosted its holdings in shares of Snowflake by 1.4% in the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after acquiring an additional 7,373 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Activity at Snowflake

In other Snowflake news, Director Frank Slootman sold 45,896 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the transaction, the director now directly owns 208,735 shares in the company, valued at $36,749,884.10. This trade represents a 18.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the sale, the executive vice president now owns 706,755 shares of the company’s stock, valued at approximately $85,354,801.35. This trade represents a 2.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 504,151 shares of company stock valued at $84,973,139. 7.80% of the stock is owned by corporate insiders.

Snowflake Stock Performance

Shares of NYSE SNOW opened at $187.89 on Wednesday. Snowflake Inc. has a one year low of $107.13 and a one year high of $237.72. The business’s 50-day moving average price is $167.95 and its two-hundred day moving average price is $136.74. 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 company has a market capitalization of $62.02 billion, a P/E ratio of -55.42 and a beta of 1.05.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SNOW shares. Truist Financial restated a “buy” rating and issued a $210.00 target price on shares of Snowflake in a research report on Thursday, November 21st. JMP Securities restated a “market outperform” rating and issued a $190.00 price objective on shares of Snowflake in a report on Tuesday, December 3rd. Cantor Fitzgerald assumed coverage on Snowflake in a report on Friday, January 17th. They set an “overweight” rating and a $201.00 target price on the stock. Jefferies Financial Group upped their price target on shares of Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, Mizuho lifted their price objective on shares of Snowflake from $165.00 to $195.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Snowflake presently has an average rating of “Moderate Buy” and an average target price of $188.06.

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.