20,000 Shares in Snowflake Inc. (NYSE:SNOW) Acquired by SPX Gestao de Recursos Ltda

SPX Gestao de Recursos Ltda acquired a new position in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 20,000 shares of the company’s stock, valued at approximately $3,088,000.

Other institutional investors have also recently bought and sold shares of the company. Toronto Dominion Bank raised its position in Snowflake by 24.1% in the 3rd quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock worth $4,276,000 after purchasing an additional 7,239 shares during the last quarter. Prospect Financial Services LLC bought a new position in Snowflake in the 4th quarter worth approximately $288,000. Independent Advisor Alliance raised its position in Snowflake by 15.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after purchasing an additional 548 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Snowflake by 1.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after acquiring an additional 8,857 shares during the last quarter. Finally, Bourgeon Capital Management LLC bought a new stake in shares of Snowflake during the 4th quarter valued at $5,851,000. Institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Royal Bank of Canada upped their target price on shares of Snowflake from $210.00 to $221.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Bank of America upped their target price on shares of Snowflake from $185.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Piper Sandler upped their target price on shares of Snowflake from $208.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Guggenheim reiterated a “neutral” rating on shares of Snowflake in a research report on Thursday, February 27th. Finally, Cantor Fitzgerald upped their target price on shares of Snowflake from $201.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Snowflake currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.92.

Snowflake Stock Down 7.3 %

Shares of SNOW stock opened at $147.38 on Tuesday. 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 firm’s 50-day moving average is $173.64 and its 200-day moving average is $147.31. The stock has a market cap of $48.65 billion, a price-to-earnings ratio of -43.47 and a beta of 1.07. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40.

Insider Activity

In other Snowflake news, CAO Emily Ho sold 1,508 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total value of $246,060.36. Following the transaction, the chief accounting officer now directly owns 44,760 shares of the company’s stock, valued at $7,303,489.20. This represents a 3.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Slootman sold 6,714 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $171.00, for a total transaction of $1,148,094.00. Following the completion of the transaction, the director now directly owns 196,454 shares in the company, valued at approximately $33,593,634. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 294,923 shares of company stock valued at $49,689,983. 7.80% of the stock is owned by company insiders.

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.