Proficio Capital Partners LLC Purchases Shares of 53,889 Snowflake Inc. (NYSE:SNOW)

Proficio Capital Partners LLC acquired a new position in Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 53,889 shares of the company’s stock, valued at approximately $8,321,000.

A number of other large investors have also recently made changes to their positions in the business. Stonebridge Financial Group LLC bought a new stake in Snowflake in the fourth quarter valued at $29,000. Groupama Asset Managment bought a new stake in shares of Snowflake during the 3rd quarter valued at about $25,000. Perkins Coie Trust Co increased its position in shares of Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after buying an additional 139 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Snowflake by 1,437.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company’s stock valued at $38,000 after buying an additional 230 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new position in Snowflake in the fourth quarter worth about $38,000. 65.10% of the stock is currently owned by institutional investors.

Snowflake Stock Performance

Shares of SNOW opened at $156.41 on Friday. The business has a 50-day simple moving average of $173.24 and a two-hundred day simple moving average of $148.09. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. 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 $51.63 billion, a price-to-earnings ratio of -46.14 and a beta of 1.07.

Analysts Set New Price Targets

A number of research firms have weighed in on SNOW. Jefferies Financial Group upped their target price on Snowflake from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, February 21st. UBS Group increased their price objective on Snowflake from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. Wedbush set a $210.00 target price on shares of Snowflake in a report on Wednesday, January 22nd. Stifel Nicolaus increased their price target on shares of Snowflake from $187.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Monness Crespi & Hardt boosted their price objective on shares of Snowflake from $188.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $202.92.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 685 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total transaction of $100,859.40. Following the completion of the sale, the executive vice president now owns 622,611 shares in the company, valued at approximately $91,673,243.64. This trade represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frank Slootman sold 6,714 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $171.00, for a total value of $1,148,094.00. Following the completion of the transaction, the director now directly owns 196,454 shares in the company, valued at approximately $33,593,634. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 297,391 shares of company stock valued at $50,053,371. 7.80% of the stock is owned by corporate insiders.

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.