Savant Capital LLC Acquires New Stake in Snowflake Inc. (NYSE:SNOW)

Savant Capital LLC bought a new position in Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 19,017 shares of the company’s stock, valued at approximately $2,936,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Snowflake by 260.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,317 shares of the company’s stock valued at $266,000 after acquiring an additional 1,675 shares in the last quarter. Inspire Investing LLC raised its position in Snowflake by 27.3% during the 3rd quarter. Inspire Investing LLC now owns 2,474 shares of the company’s stock valued at $284,000 after purchasing an additional 530 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Snowflake by 15.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 21,976 shares of the company’s stock worth $2,524,000 after buying an additional 2,989 shares during the period. Procyon Advisors LLC grew its position in shares of Snowflake by 20.6% during the 3rd quarter. Procyon Advisors LLC now owns 5,031 shares of the company’s stock worth $578,000 after buying an additional 859 shares in the last quarter. Finally, Stablepoint Partners LLC increased its stake in shares of Snowflake by 18.3% during the third quarter. Stablepoint Partners LLC now owns 6,076 shares of the company’s stock valued at $698,000 after buying an additional 941 shares during the period. Hedge funds and other institutional investors own 65.10% of the company’s stock.

Snowflake Stock Down 1.4 %

Snowflake stock opened at $183.54 on Wednesday. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The company has a market cap of $60.59 billion, a PE ratio of -54.14 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 business’s 50-day simple moving average is $171.06 and its two-hundred day simple moving average is $140.10.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of research reports. Truist Financial reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Snowflake in a research note on Thursday, November 21st. Piper Sandler increased their price objective on shares of Snowflake from $185.00 to $208.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Oppenheimer lifted their price objective on shares of Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, January 13th. Scotiabank upped their target price on Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $180.00 target price on shares of Snowflake in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $187.06.

Insider Activity at Snowflake

In related news, Director Frank Slootman sold 45,896 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the completion of the transaction, the director now owns 208,735 shares of the company’s stock, valued at $36,749,884.10. This trade represents a 18.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the transaction, the executive vice president now owns 552,930 shares of the company’s stock, valued at $103,121,445. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 516,933 shares of company stock worth $88,283,752 over the last quarter. Insiders own 7.80% of the company’s stock.

About Snowflake

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.