Grant Private Wealth Management Inc Makes New Investment in Snowflake Inc. (NYSE:SNOW)

Grant Private Wealth Management Inc acquired a new stake in Snowflake Inc. (NYSE:SNOW) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,096 shares of the company’s stock, valued at approximately $487,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Toronto Dominion Bank boosted its stake in Snowflake by 24.1% in the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after acquiring an additional 7,239 shares in the last quarter. Prospect Financial Services LLC purchased a new stake in shares of Snowflake in the 4th quarter valued at about $288,000. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Snowflake by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company’s stock valued at $104,028,000 after purchasing an additional 8,857 shares during the period. Bourgeon Capital Management LLC purchased a new position in Snowflake during the 4th quarter worth approximately $5,851,000. Finally, Stephens Consulting LLC lifted its stake in Snowflake by 7,407.4% in the fourth quarter. Stephens Consulting LLC now owns 2,027 shares of the company’s stock valued at $313,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 65.10% of the company’s stock.

Insider Transactions at Snowflake

In other Snowflake news, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the completion of the sale, the chief financial officer now owns 292,610 shares in the company, valued at $47,756,878.10. The trade was a 50.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction dated 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 directly owns 552,930 shares of the company’s stock, valued at approximately $103,121,445. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 491,186 shares of company stock worth $82,353,709 over the last ninety days. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Trading Up 3.1 %

Snowflake stock opened at $154.23 on Thursday. The stock has a 50-day moving average price of $170.55 and a 200 day moving average price of $152.08. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The stock has a market cap of $50.91 billion, a PE ratio of -45.50 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SNOW shares. Citigroup lifted their target price on shares of Snowflake from $230.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday. Mizuho lifted their price objective on shares of Snowflake from $195.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Macquarie began coverage on shares of Snowflake in a research note on Wednesday. They set a “neutral” rating and a $160.00 target price for the company. Wells Fargo & Company boosted their price target on Snowflake from $210.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Finally, Cantor Fitzgerald increased their price objective on Snowflake from $201.00 to $228.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Ten analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $203.05.

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.