Los Angeles Capital Management LLC Invests $6.32 Million in Snowflake Inc. (NYSE:SNOW)

Los Angeles Capital Management LLC acquired a new position in shares of Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 40,897 shares of the company’s stock, valued at approximately $6,315,000.

Other institutional investors have also recently bought and sold shares of the company. Amalgamated Bank raised its stake in shares of Snowflake by 2.4% during the 4th quarter. Amalgamated Bank now owns 21,343 shares of the company’s stock worth $3,296,000 after purchasing an additional 504 shares in the last quarter. FourThought Financial Partners LLC grew its stake in shares of Snowflake by 43.9% in the 4th quarter. FourThought Financial Partners LLC now owns 14,903 shares of the company’s stock valued at $2,301,000 after buying an additional 4,548 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in Snowflake in the fourth quarter worth approximately $248,000. Bank of New York Mellon Corp lifted its stake in Snowflake by 12.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,339,313 shares of the company’s stock valued at $206,803,000 after acquiring an additional 143,560 shares during the last quarter. Finally, Synergy Financial Group LTD lifted its stake in Snowflake by 24.9% in the fourth quarter. Synergy Financial Group LTD now owns 3,528 shares of the company’s stock valued at $545,000 after acquiring an additional 703 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 100,000 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $155.00, for a total value of $15,500,000.00. Following the sale, the director now owns 195,281 shares of the company’s stock, valued at $30,268,555. The trade was a 33.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Emily Ho sold 1,508 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total value of $246,060.36. Following the transaction, the chief accounting officer now owns 44,760 shares of the company’s stock, valued at $7,303,489.20. This represents a 3.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 371,810 shares of company stock valued at $63,340,544. Corporate insiders own 7.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on SNOW shares. Monness Crespi & Hardt raised their price target on shares of Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Wells Fargo & Company raised their target price on Snowflake from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft boosted their price target on Snowflake from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. StockNews.com raised Snowflake from a “sell” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, Loop Capital upped their target price on Snowflake from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Snowflake has an average rating of “Moderate Buy” and a consensus price target of $196.19.

Snowflake Stock Performance

NYSE:SNOW opened at $166.20 on Thursday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $172.79 and a 200 day moving average price of $144.94. The firm has a market capitalization of $54.86 billion, a PE ratio of -49.03 and a beta of 1.07. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $235.66.

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.