Essex Financial Services Inc. purchased a new position in Snowflake Inc. (NYSE:SNOW - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,605 shares of the company's stock, valued at approximately $248,000.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Powell Investment Advisors LLC bought a new stake in shares of Snowflake during the 4th quarter valued at $202,000. Sycomore Asset Management boosted its stake in Snowflake by 13.7% during the fourth quarter. Sycomore Asset Management now owns 63,637 shares of the company's stock worth $9,826,000 after acquiring an additional 7,684 shares in the last quarter. Silicon Valley Capital Partners bought a new stake in Snowflake during the fourth quarter worth about $154,000. Savant Capital LLC purchased a new stake in Snowflake in the fourth quarter worth about $2,936,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Snowflake during the fourth quarter valued at approximately $656,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Snowflake
In other Snowflake news, CRO Christopher William Degnan sold 76,692 shares of the firm's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the sale, the executive now directly owns 346,741 shares of the company's stock, valued at $58,398,119.22. This trade represents a 18.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Emily Ho sold 2,021 shares of the company's stock in a transaction dated 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 directly owns 26,874 shares of the company's stock, valued at approximately $4,667,476.32. This trade represents a 6.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 516,933 shares of company stock valued at $88,283,752 over the last 90 days. 7.80% of the stock is currently owned by corporate insiders.
Snowflake Stock Performance
Shares of NYSE:SNOW traded down $4.80 during mid-day trading on Monday, reaching $187.86. 5,806,291 shares of the company traded hands, compared to its average volume of 5,077,484. The company's 50 day moving average price is $171.66 and its 200-day moving average price is $142.19. The firm has a market cap of $62.01 billion, a PE ratio of -55.42 and a beta of 1.07. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $236.33. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88.
Analysts Set New Price Targets
Several analysts recently weighed in on the company. Truist Financial restated a "buy" rating and issued a $210.00 price target on shares of Snowflake in a research note on Thursday, November 21st. Scotiabank increased 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. Piper Sandler lifted their price target on Snowflake from $185.00 to $208.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. JMP Securities reissued a "market outperform" rating and set a $190.00 price objective on shares of Snowflake in a research report on Tuesday, December 3rd. Finally, Evercore ISI lifted their target price on shares of Snowflake from $190.00 to $200.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Two 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 MarketBeat.com, Snowflake has a consensus rating of "Moderate Buy" and an average price target of $187.63.
Get Our Latest Stock Analysis on SNOW
Snowflake Company Profile
(
Free Report)
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.
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