Joule Financial LLC Buys Shares of 3,031 Snowflake Inc. (NYSE:SNOW)

Joule Financial LLC purchased a new position in shares of Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,031 shares of the company’s stock, valued at approximately $468,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNOW. HB Wealth Management LLC purchased a new position in shares of Snowflake during the 4th quarter valued at $397,000. Westend Capital Management LLC acquired a new stake in shares of Snowflake in the 4th quarter valued at $10,550,000. Lake Street Private Wealth LLC bought a new stake in shares of Snowflake during the 4th quarter worth about $222,000. B & T Capital Management DBA Alpha Capital Management grew its holdings in Snowflake by 2.6% during the fourth quarter. B & T Capital Management DBA Alpha Capital Management now owns 37,255 shares of the company’s stock valued at $5,752,000 after purchasing an additional 953 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new position in Snowflake during the 4th quarter worth $493,000. 65.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. TD Cowen upped their price target on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. DA Davidson reaffirmed a “buy” rating and set a $175.00 price objective on shares of Snowflake in a report on Thursday, October 3rd. StockNews.com cut Snowflake from a “hold” rating to a “sell” rating in a report on Thursday. Cantor Fitzgerald started coverage on Snowflake in a research note on Friday. They issued an “overweight” rating and a $201.00 price target on the stock. Finally, Bank of America lifted their price objective on Snowflake from $160.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $188.06.

Snowflake Stock Performance

SNOW opened at $170.89 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The business’s 50-day moving average price is $161.11 and its two-hundred day moving average price is $135.02. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $237.72.

Insider Activity at Snowflake

In other news, CRO Christopher William Degnan sold 12,782 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was 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 in the company, valued at $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 available at the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the sale, the executive vice president now owns 706,755 shares in the company, valued at $85,354,801.35. The trade was a 2.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 376,904 shares of company stock valued at $62,545,855. 7.80% of the stock is owned by 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.