Raymond James Financial Inc. Buys New Shares in Snowflake Inc. (NYSE:SNOW)

Raymond James Financial Inc. purchased a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 805,860 shares of the company's stock, valued at approximately $124,433,000. Raymond James Financial Inc. owned approximately 0.24% of Snowflake at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Groupama Asset Managment acquired a new position in Snowflake during the 3rd quarter valued at about $25,000. Stonebridge Financial Group LLC bought a new position in shares of Snowflake in the fourth quarter valued at approximately $29,000. Perkins Coie Trust Co boosted 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 last quarter. Union Bancaire Privee UBP SA bought a new stake in Snowflake during the fourth quarter worth $38,000. Finally, Geneos Wealth Management Inc. grew its holdings in Snowflake by 1,437.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company's stock worth $38,000 after buying an additional 230 shares in the last quarter. 65.10% of the stock is owned by institutional investors.

Snowflake Stock Up 1.5 %

NYSE:SNOW traded up $2.16 during trading hours on Tuesday, reaching $149.75. 7,544,370 shares of the company traded hands, compared to its average volume of 6,435,190. The business's 50-day moving average price is $173.55 and its two-hundred day moving average price is $147.55. The stock has a market capitalization of $49.43 billion, a P/E ratio of -44.17 and a beta of 1.07. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

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Insider Buying and Selling at Snowflake

In related news, CAO Emily Ho sold 1,508 shares of Snowflake stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $163.17, for a total value of $246,060.36. Following the completion of the sale, the chief accounting officer now owns 44,760 shares of the company's stock, valued at $7,303,489.20. The trade was a 3.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total value of $2,576,250.00. Following the completion of the sale, the executive vice president now directly owns 594,975 shares of the company's stock, valued at $102,186,956.25. The trade was a 2.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 294,923 shares of company stock worth $49,689,983. 7.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SNOW has been the subject of several recent research reports. Loop Capital upped their price target on Snowflake from $205.00 to $215.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Wedbush set a $210.00 price target on Snowflake in a report on Wednesday, January 22nd. Guggenheim reiterated a "neutral" rating on shares of Snowflake in a report on Thursday, February 27th. Piper Sandler upped their price target on Snowflake from $208.00 to $215.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. Finally, Stifel Nicolaus upped their price objective on Snowflake from $187.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $202.92.

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.