Asset Dedication LLC Buys 59 Shares of Snowflake Inc. (NYSE:SNOW)

Asset Dedication LLC increased its stake in Snowflake Inc. (NYSE:SNOW) by 6.8% in the 4th quarter, Holdings Channel reports. The fund owned 922 shares of the company’s stock after buying an additional 59 shares during the quarter. Asset Dedication LLC’s holdings in Snowflake were worth $142,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Groupama Asset Managment purchased a new position in Snowflake in the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC purchased a new stake in Snowflake in the 3rd quarter worth approximately $30,000. Fortitude Family Office LLC bought a new stake in Snowflake in the third quarter valued at $34,000. Perkins Coie Trust Co raised its holdings in Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after purchasing an additional 139 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Snowflake during the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SNOW shares. Barclays upgraded shares of Snowflake from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a report on Friday, January 10th. Needham & Company LLC boosted their price target on Snowflake from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. DA Davidson reaffirmed a “buy” rating and issued a $175.00 target price on shares of Snowflake in a report on Thursday, October 3rd. Royal Bank of Canada upped their price target on Snowflake from $175.00 to $188.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Bank of America lifted their price target on shares of Snowflake from $160.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $188.06.

Snowflake Price Performance

NYSE:SNOW opened at $179.42 on Friday. The business’s 50-day moving average is $169.02 and its 200 day moving average is $137.06. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The company has a market capitalization of $59.23 billion, a P/E ratio of -52.93 and a beta of 1.05. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

Insiders Place Their Bets

In related news, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $157.24, for a total value of $2,009,841.68. Following the completion of the transaction, the executive now owns 311,999 shares of the company’s stock, valued at approximately $49,058,722.76. This trade represents a 3.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Slootman sold 127,247 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total value of $22,427,283.75. Following the sale, the director now directly owns 195,281 shares in the company, valued at $34,418,276.25. The trade was a 39.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 504,151 shares of company stock valued at $84,973,139 in the last quarter. 7.80% of the stock is currently owned by insiders.

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.