Empowered Funds LLC Has $1.40 Million Position in Snowflake Inc. (NYSE:SNOW)

Empowered Funds LLC boosted its holdings in shares of Snowflake Inc. (NYSE:SNOW) by 50.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,054 shares of the company’s stock after buying an additional 3,041 shares during the period. Empowered Funds LLC’s holdings in Snowflake were worth $1,398,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SNOW. Toronto Dominion Bank boosted its position in shares of Snowflake by 24.1% during the third quarter. Toronto Dominion Bank now owns 37,226 shares of the company’s stock valued at $4,276,000 after buying an additional 7,239 shares during the last quarter. Prospect Financial Services LLC purchased a new position in Snowflake during the 4th quarter worth $288,000. Independent Advisor Alliance grew its stake in shares of Snowflake by 15.5% in the 3rd quarter. Independent Advisor Alliance now owns 4,078 shares of the company’s stock worth $468,000 after acquiring an additional 548 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Snowflake by 1.3% in the fourth 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 last quarter. Finally, Bourgeon Capital Management LLC purchased a new stake in shares of Snowflake in the fourth quarter valued at about $5,851,000. 65.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SNOW shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Snowflake in a research report on Tuesday, November 19th. Scotiabank upped their target price on Snowflake from $170.00 to $220.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. Wells Fargo & Company upgraded Snowflake from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $150.00 to $200.00 in a report on Tuesday, January 7th. StockNews.com downgraded Snowflake from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. Finally, Mizuho boosted their price target on shares of Snowflake from $195.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $187.63.

Insider Activity

In other news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total transaction of $2,700,000.00. Following the completion of the sale, the executive vice president now directly owns 691,755 shares of the company’s stock, valued at approximately $124,515,900. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frank Slootman sold 45,896 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $176.06, for a total value of $8,080,449.76. Following the completion of the transaction, the director now directly owns 208,735 shares in the company, valued at approximately $36,749,884.10. This represents a 18.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 516,933 shares of company stock worth $88,283,752. 7.80% of the stock is currently owned by insiders.

Snowflake Price Performance

Snowflake stock opened at $187.86 on Monday. The stock has a market cap of $62.01 billion, a price-to-earnings ratio of -55.42 and a beta of 1.07. 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 business has a 50-day simple moving average of $171.51 and a 200 day simple moving average of $141.74. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $236.33.

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.