Allstate Corp bought a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,907 shares of the company's stock, valued at approximately $1,375,000.
Several other institutional investors also recently modified their holdings of the business. Stonebridge Financial Group LLC acquired a new position in Snowflake in the fourth quarter valued at about $29,000. Groupama Asset Managment acquired a new stake in shares of Snowflake in the 3rd quarter valued at approximately $25,000. Blue Bell Private Wealth Management LLC raised its position in shares of Snowflake by 189.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock valued at $34,000 after acquiring an additional 144 shares during the period. Perkins Coie Trust Co boosted its stake in Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock worth $37,000 after acquiring an additional 139 shares during the last quarter. 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 valued at $38,000 after purchasing an additional 230 shares during the period. Institutional investors and hedge funds own 65.10% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on SNOW. JMP Securities reissued a "market outperform" rating and issued a $190.00 price target on shares of Snowflake in a report on Tuesday, December 3rd. Guggenheim restated a "neutral" rating on shares of Snowflake in a report on Thursday, February 27th. BTIG Research upgraded Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price objective on the stock in a report on Thursday, February 20th. Wells Fargo & Company boosted their price objective on Snowflake from $210.00 to $215.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. Finally, StockNews.com upgraded shares of Snowflake from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Nine equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $204.14.
View Our Latest Stock Report on SNOW
Insider Buying and Selling at Snowflake
In related news, EVP Christian Kleinerman sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the sale, the executive vice president now directly owns 552,930 shares in the company, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michael Scarpelli sold 300,000 shares of the firm's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total value of $48,963,000.00. Following the transaction, the chief financial officer now owns 292,610 shares in the company, valued at approximately $47,756,878.10. This trade represents a 50.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 503,968 shares of company stock valued at $84,363,550 in the last ninety days. 7.80% of the stock is currently owned by corporate insiders.
Snowflake Stock Performance
Shares of NYSE:SNOW traded up $3.40 during trading on Tuesday, reaching $149.56. 3,422,362 shares of the stock were exchanged, compared to its average volume of 6,379,203. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The stock has a 50-day moving average price of $171.02 and a 200-day moving average price of $152.07. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a market cap of $49.37 billion, a PE ratio of -44.12 and a beta of 1.07.
About Snowflake
(
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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