Boothbay Fund Management LLC Buys 16,365 Shares of Snowflake Inc. (NYSE:SNOW)

Boothbay Fund Management LLC increased its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 212.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,067 shares of the company's stock after purchasing an additional 16,365 shares during the quarter. Boothbay Fund Management LLC's holdings in Snowflake were worth $3,716,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Stonebridge Financial Group LLC bought a new position in Snowflake in the 4th quarter valued at $29,000. Quadrant Capital Group LLC boosted its holdings in Snowflake by 74.6% in the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock valued at $33,000 after acquiring an additional 91 shares during the last quarter. Blue Bell Private Wealth Management LLC increased its position in Snowflake by 189.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock worth $34,000 after purchasing an additional 144 shares during the period. Perkins Coie Trust Co raised its holdings 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 purchasing an additional 139 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in Snowflake by 1,437.5% during the 4th 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.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group dropped their price target on shares of Snowflake from $220.00 to $190.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Bank of America upped their target price on shares of Snowflake from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Wells Fargo & Company reduced their price target on Snowflake from $215.00 to $200.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Oppenheimer upped their price objective on Snowflake from $200.00 to $220.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $183.00 target price on shares of Snowflake in a report on Wednesday, April 2nd. Ten research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $200.27.

Snowflake Price Performance

Shares of SNOW opened at $158.26 on Friday. 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 company's fifty day simple moving average is $154.91 and its 200 day simple moving average is $155.84. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. The company has a market cap of $52.24 billion, a price-to-earnings ratio of -46.68 and a beta of 1.13.

Insider Activity

In other news, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the transaction, the chief financial officer now directly owns 292,610 shares in the company, valued at approximately $47,756,878.10. The trade was a 50.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael L. Speiser sold 403 shares of the stock in a transaction on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the sale, the director now owns 26,375 shares in the company, valued at approximately $3,408,968.75. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 364,342 shares of company stock valued at $59,978,513 in the last quarter. Company insiders own 7.80% of the company's stock.

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.

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