First American Trust FSB Invests $3.12 Million in Snowflake Inc. (NYSE:SNOW)

First American Trust FSB bought a new stake in Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 20,233 shares of the company’s stock, valued at approximately $3,124,000.

Other institutional investors also recently added to or reduced their stakes in the company. Groupama Asset Managment acquired a new stake in shares of Snowflake in the 3rd quarter valued at $25,000. Stonebridge Financial Group LLC acquired a new stake in Snowflake in the fourth quarter valued at $29,000. Blue Bell Private Wealth Management LLC boosted its position in shares of Snowflake by 189.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock worth $34,000 after acquiring an additional 144 shares in the last quarter. Perkins Coie Trust Co boosted its position in shares of Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock worth $37,000 after acquiring an additional 139 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake 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 Analysts Forecast Growth

Several analysts have commented on the company. Mizuho upped their price objective on Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. BTIG Research upgraded shares of Snowflake from a “neutral” rating to a “buy” rating and set a $220.00 price objective on the stock in a research report on Thursday, February 20th. Wells Fargo & Company upped their price objective on shares of Snowflake from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Needham & Company LLC raised their target price on shares of Snowflake from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Wedbush set a $210.00 price target on shares of Snowflake in a report on Wednesday, January 22nd. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.08.

Snowflake Stock Up 3.1 %

NYSE SNOW opened at $163.36 on Tuesday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40. The business has a 50 day moving average price of $172.76 and a two-hundred day moving average price of $150.25. The stock has a market cap of $53.93 billion, a PE ratio of -48.19 and a beta of 1.07.

Insider Activity

In related news, Director Frank Slootman sold 1,783 shares of the 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 owns 192,511 shares of the company’s stock, valued at approximately $28,345,319.64. This represents a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 685 shares of Snowflake stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $100,859.40. Following the sale, the executive vice president now owns 622,611 shares in the company, valued at $91,673,243.64. This represents a 0.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 303,968 shares of company stock worth $50,900,550. 7.80% of the stock is currently 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.