Park Avenue Securities LLC Raises Position in Snowflake Inc. (NYSE:SNOW)

Park Avenue Securities LLC lifted its stake in shares of Snowflake Inc. (NYSE:SNOW) by 50.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,000 shares of the company’s stock after purchasing an additional 4,373 shares during the period. Park Avenue Securities LLC’s holdings in Snowflake were worth $2,007,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNOW. Groupama Asset Managment purchased a new position in shares of Snowflake during the 3rd quarter valued at $25,000. V Square Quantitative Management LLC purchased a new stake in Snowflake during the third quarter valued at about $30,000. Fortitude Family Office LLC bought a new position in shares of Snowflake during the third quarter valued at about $34,000. Larson Financial Group LLC raised its stake in shares of Snowflake by 81.3% during the third quarter. Larson Financial Group LLC now owns 339 shares of the company’s stock valued at $39,000 after acquiring an additional 152 shares during the last quarter. Finally, Waldron Private Wealth LLC bought a new position in shares of Snowflake during the third quarter valued at about $40,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Price Performance

SNOW stock opened at $170.89 on Friday. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a 50-day moving average price of $161.11 and a 200 day moving average price of $135.02. The stock has a market cap of $56.41 billion, a PE ratio of -50.41 and a beta of 1.05.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SNOW. Cantor Fitzgerald initiated coverage on shares of Snowflake in a research note on Friday. They issued an “overweight” rating and a $201.00 price target for the company. Needham & Company LLC increased their price target on shares of Snowflake from $160.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Wedbush cut shares of Snowflake from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. StockNews.com cut shares of Snowflake from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $180.00 price target on shares of Snowflake in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $188.06.

Insider Buying and Selling

In related news, CRO Christopher William Degnan sold 12,782 shares of Snowflake stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $157.24, for a total transaction of $2,009,841.68. Following the completion of the sale, the executive now owns 311,999 shares in the company, valued at $49,058,722.76. This trade represents a 3.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frank Slootman sold 100,000 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the completion of the sale, the director now owns 195,281 shares of the company’s stock, valued at approximately $30,268,555. This represents a 33.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 376,904 shares of company stock valued at $62,545,855. Company insiders own 7.80% of the company’s stock.

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.