805,860 Shares in Snowflake Inc. (NYSE:SNOW) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 805,860 shares of the company’s stock, valued at approximately $124,433,000. Raymond James Financial Inc. owned 0.24% of Snowflake as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its position in Snowflake by 13.9% during the third quarter. Janney Montgomery Scott LLC now owns 34,093 shares of the company’s stock valued at $3,916,000 after buying an additional 4,168 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in Snowflake by 33.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 38,956 shares of the company’s stock valued at $4,474,000 after buying an additional 9,743 shares during the period. Washington Trust Advisors Inc. lifted its position in Snowflake by 7.9% during the third quarter. Washington Trust Advisors Inc. now owns 58,429 shares of the company’s stock valued at $6,711,000 after buying an additional 4,268 shares during the period. Carson Advisory Inc. purchased a new position in Snowflake during the third quarter valued at $240,000. Finally, Covestor Ltd lifted its position in Snowflake by 16.2% during the third quarter. Covestor Ltd now owns 827 shares of the company’s stock valued at $95,000 after buying an additional 115 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Insiders Place Their Bets

In other news, Director Frank Slootman sold 100,000 shares of Snowflake stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the transaction, the director now directly owns 195,281 shares of the company’s stock, valued at $30,268,555. The trade was a 33.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 558 shares of Snowflake stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $179.00, for a total value of $99,882.00. Following the transaction, the executive vice president now directly owns 690,647 shares in the company, valued at approximately $123,625,813. The trade was a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 297,193 shares of company stock valued at $50,096,313. Insiders own 7.80% of the company’s stock.

Snowflake Trading Up 1.5 %

Shares of NYSE:SNOW opened at $158.54 on Friday. The stock has a market capitalization of $52.33 billion, a price-to-earnings ratio of -46.77 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The stock’s 50-day simple moving average is $173.79 and its two-hundred day simple moving average is $147.00. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40.

Analyst Upgrades and Downgrades

SNOW has been the subject of several recent research reports. Monness Crespi & Hardt raised their price objective on Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Loop Capital raised their price target on Snowflake from $205.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Needham & Company LLC raised their price target on Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Truist Financial restated a “buy” rating and set a $225.00 price target (up from $210.00) on shares of Snowflake in a report on Thursday, February 27th. Finally, Stifel Nicolaus raised their price target on Snowflake from $187.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $202.92.

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.