Mutual Advisors LLC Acquires New Holdings in Snowflake Inc. (NYSE:SNOW)

Mutual Advisors LLC bought a new stake in Snowflake Inc. (NYSE:SNOW) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,778 shares of the company’s stock, valued at approximately $298,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its stake in Snowflake by 28.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 43,877 shares of the company’s stock valued at $6,775,000 after buying an additional 9,784 shares in the last quarter. Westside Investment Management Inc. lifted its holdings in Snowflake by 1.9% in the 4th quarter. Westside Investment Management Inc. now owns 12,574 shares of the company’s stock valued at $1,942,000 after acquiring an additional 230 shares during the last quarter. Dakota Wealth Management bought a new position in shares of Snowflake during the 4th quarter valued at about $3,729,000. Nisa Investment Advisors LLC grew its stake in shares of Snowflake by 31.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,035 shares of the company’s stock worth $314,000 after purchasing an additional 490 shares during the last quarter. Finally, Red Spruce Capital LLC raised its holdings in shares of Snowflake by 3.0% in the 4th quarter. Red Spruce Capital LLC now owns 13,620 shares of the company’s stock worth $2,103,000 after purchasing an additional 393 shares in the last quarter. Institutional investors own 65.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SNOW. Wells Fargo & Company upgraded Snowflake from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $150.00 to $200.00 in a research report on Tuesday, January 7th. Citigroup decreased their price target on Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a research report on Monday, November 18th. JMP Securities restated a “market outperform” rating and set a $190.00 price objective on shares of Snowflake in a report on Tuesday, December 3rd. Scotiabank raised their target price on shares of Snowflake from $170.00 to $220.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. Finally, Mizuho boosted their price target on shares of Snowflake from $165.00 to $195.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.06.

Snowflake Stock Performance

Shares of SNOW opened at $187.89 on Wednesday. The business has a 50-day simple moving average of $166.79 and a two-hundred day simple moving average of $136.37. 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 $237.72. The stock has a market cap of $62.02 billion, a price-to-earnings ratio of -55.42 and a beta of 1.05.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 127,247 shares of Snowflake stock in a transaction 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 transaction, the director now directly owns 195,281 shares of the company’s stock, valued at $34,418,276.25. The trade was a 39.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Emily Ho sold 2,021 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $173.68, for a total value of $351,007.28. Following the transaction, the chief accounting officer now directly owns 26,874 shares in the company, valued at approximately $4,667,476.32. This represents a 6.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 504,151 shares of company stock worth $84,973,139 in the last three months. 7.80% of the stock is owned by company insiders.

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.