Van ECK Associates Corp Purchases 3,886 Shares of Snowflake Inc. (NYSE:SNOW)

Van ECK Associates Corp increased its position in shares of Snowflake Inc. (NYSE:SNOW) by 90.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,194 shares of the company’s stock after purchasing an additional 3,886 shares during the quarter. Van ECK Associates Corp’s holdings in Snowflake were worth $1,265,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Jennison Associates LLC lifted its position in Snowflake by 92.2% during the fourth quarter. Jennison Associates LLC now owns 7,637,006 shares of the company’s stock worth $1,179,230,000 after purchasing an additional 3,662,671 shares during the period. State Street Corp lifted its position in Snowflake by 0.8% during the third quarter. State Street Corp now owns 6,867,097 shares of the company’s stock worth $788,755,000 after purchasing an additional 54,909 shares during the period. Geode Capital Management LLC lifted its position in Snowflake by 3.5% during the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company’s stock worth $475,894,000 after purchasing an additional 138,663 shares during the period. Two Sigma Advisers LP raised its stake in Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company’s stock worth $464,402,000 after acquiring an additional 881,700 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board raised its stake in Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company’s stock worth $295,459,000 after acquiring an additional 2,559,144 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

Shares of SNOW opened at $177.79 on Friday. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $235.66. The business’s fifty day moving average is $172.88 and its 200 day moving average is $143.76. 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 stock has a market cap of $58.69 billion, a P/E ratio of -52.45 and a beta of 1.07.

Insider Buying and Selling

In related news, Director Frank Slootman sold 100,000 shares of the 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 transaction, the director now directly owns 195,281 shares in the company, valued at $30,268,555. This trade represents a 33.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Emily Ho sold 2,021 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $173.68, for a total value of $351,007.28. Following the completion of the transaction, the chief accounting officer now owns 26,874 shares in the company, valued at approximately $4,667,476.32. This represents a 6.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 394,345 shares of company stock worth $67,286,835 in the last ninety days. Corporate insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on SNOW shares. Rosenblatt Securities reissued a “buy” rating and set a $180.00 target price on shares of Snowflake in a research note on Tuesday, November 19th. Jefferies Financial Group boosted their target price on Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday. Evercore ISI boosted their target price on Snowflake from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Scotiabank boosted their target price on Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. Finally, Wedbush raised Snowflake from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.89.

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.