Kazazian Asset Management LLC Purchases New Position in Snowflake Inc. (NYSE:SNOW)

Kazazian Asset Management LLC acquired a new position in Snowflake Inc. (NYSE:SNOW - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,200 shares of the company's stock, valued at approximately $1,266,000. Snowflake accounts for 1.0% of Kazazian Asset Management LLC's portfolio, making the stock its 23rd largest holding.

Several other hedge funds also recently added to or reduced their stakes in SNOW. Stonebridge Financial Group LLC purchased a new position in shares of Snowflake during the fourth quarter worth $29,000. Groupama Asset Managment purchased a new position in shares of Snowflake during the third quarter worth $25,000. Blue Bell Private Wealth Management LLC boosted its position in shares of Snowflake by 189.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock worth $34,000 after buying an additional 144 shares during the period. 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 worth $37,000 after buying an additional 139 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in shares of Snowflake by 1,437.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company's stock valued at $38,000 after acquiring an additional 230 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Price Performance

Shares of NYSE:SNOW traded up $0.75 during trading on Friday, hitting $157.94. 3,604,059 shares of the stock were exchanged, compared to its average volume of 6,340,684. The company has a fifty day moving average price of $172.74 and a two-hundred day moving average price of $149.61. The company has a market cap of $52.14 billion, a PE ratio of -46.59 and a beta of 1.07. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40.

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Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SNOW. BTIG Research upgraded Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price objective on the stock in a research note on Thursday, February 20th. Bank of America increased their price objective on Snowflake from $185.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Citigroup increased their price objective on Snowflake from $225.00 to $230.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. Canaccord Genuity Group increased their price objective on Snowflake from $190.00 to $220.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. Finally, Truist Financial reiterated a "buy" rating and issued a $225.00 price objective (up from $210.00) on shares of Snowflake in a research note on Thursday, February 27th. Nine investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $205.08.

Insider Buying and Selling

In other Snowflake news, EVP Christian Kleinerman sold 861 shares of the business's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $165.31, for a total value of $142,331.91. Following the completion of the transaction, the executive vice president now directly owns 582,930 shares in the company, valued at approximately $96,364,158.30. The trade was a 0.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Emily Ho sold 1,508 shares of the business's stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $163.17, for a total value of $246,060.36. Following the completion of the transaction, the chief accounting officer now owns 44,760 shares of the company's stock, valued at $7,303,489.20. This trade represents a 3.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 298,429 shares of company stock worth $50,065,812 in the last ninety days. 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.