L & S Advisors Inc Makes New Investment in Snowflake Inc. (NYSE:SNOW)

L & S Advisors Inc bought a new position in shares of Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,512 shares of the company’s stock, valued at approximately $1,314,000.

Other large investors have also made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new position in Snowflake in the 4th quarter valued at about $29,000. Groupama Asset Managment purchased a new stake in shares of Snowflake during the 3rd quarter valued at approximately $25,000. Blue Bell Private Wealth Management LLC lifted its holdings in Snowflake by 189.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock valued at $34,000 after acquiring an additional 144 shares during the last quarter. Perkins Coie Trust Co lifted its holdings in Snowflake by 136.3% in the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after acquiring an additional 139 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Snowflake by 1,437.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock worth $38,000 after acquiring an additional 230 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on SNOW. Cantor Fitzgerald upped their price target on Snowflake from $201.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th. Canaccord Genuity Group upped their target price on shares of Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Royal Bank of Canada lifted their price target 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. Wedbush set a $210.00 price objective on shares of Snowflake in a report on Wednesday, January 22nd. Finally, KeyCorp increased their price objective on shares of Snowflake from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.08.

Snowflake Trading Down 4.1 %

Shares of SNOW stock opened at $150.60 on Friday. The business’s 50 day moving average is $171.99 and its two-hundred day moving average is $151.30. The company has a market capitalization of $49.71 billion, a P/E ratio of -44.42 and a beta of 1.07. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40.

Insider Transactions at Snowflake

In other news, CFO Michael Scarpelli sold 300,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at $47,756,878.10. This represents a 50.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Frank Slootman sold 127,247 shares of Snowflake stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total value of $22,427,283.75. Following the completion of the transaction, the director now owns 195,281 shares in the company, valued at $34,418,276.25. The trade was a 39.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 603,968 shares of company stock valued at $99,863,550 in the last ninety days. 7.80% of the stock is currently owned by company 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.