Janney Montgomery Scott LLC Raises Position in Snowflake Inc. (NYSE:SNOW)

Janney Montgomery Scott LLC increased its holdings in Snowflake Inc. (NYSE:SNOW) by 28.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,877 shares of the company’s stock after buying an additional 9,784 shares during the period. Janney Montgomery Scott LLC’s holdings in Snowflake were worth $6,775,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Groupama Asset Managment bought a new stake in Snowflake in the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC purchased a new stake in shares of Snowflake in the 3rd quarter valued at $30,000. Fortitude Family Office LLC bought a new position in shares of Snowflake during the 3rd quarter valued at $34,000. Perkins Coie Trust Co lifted its position 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 purchasing an additional 139 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in Snowflake by 81.3% in the 3rd quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock worth $39,000 after acquiring an additional 152 shares during the last quarter. 65.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on SNOW shares. Oppenheimer raised their target price on Snowflake from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. Monness Crespi & Hardt upped their target price on shares of Snowflake from $140.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Rosenblatt Securities reissued a “buy” rating and issued a $180.00 target price on shares of Snowflake in a research report on Tuesday, November 19th. Truist Financial reissued a “buy” rating and set a $210.00 price target on shares of Snowflake in a report on Thursday, November 21st. Finally, Loop Capital raised their price target on Snowflake from $185.00 to $205.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Snowflake has a consensus rating of “Moderate Buy” and an average target price of $188.06.

Snowflake Stock Performance

SNOW opened at $187.89 on Wednesday. The company has a market cap of $62.02 billion, a P/E ratio of -55.42 and a beta of 1.05. 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’s 50-day moving average price is $166.79 and its 200-day moving average price is $136.37. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $237.72.

Insiders Place Their Bets

In related news, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction that occurred on 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 sale, the executive now owns 311,999 shares of the company’s stock, valued at approximately $49,058,722.76. This trade represents a 3.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Slootman sold 127,247 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the completion of the sale, the director now directly owns 195,281 shares of the company’s stock, valued at approximately $34,418,276.25. This trade represents a 39.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 504,151 shares of company stock valued at $84,973,139. 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.