Commonwealth Equity Services LLC Boosts Stock Position in Snowflake Inc. (NYSE:SNOW)

Commonwealth Equity Services LLC raised its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 4.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 67,150 shares of the company's stock after purchasing an additional 3,155 shares during the period. Commonwealth Equity Services LLC's holdings in Snowflake were worth $10,369,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Groupama Asset Managment purchased a new position in shares of Snowflake during the 3rd quarter valued at approximately $25,000. Stonebridge Financial Group LLC purchased a new stake in shares of Snowflake during the fourth quarter worth $29,000. Blue Bell Private Wealth Management LLC boosted its position in shares of Snowflake by 189.5% during 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 last quarter. Perkins Coie Trust Co boosted its position in shares of Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock valued at $37,000 after acquiring an additional 139 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Snowflake during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 65.10% of the company's stock.

Wall Street Analyst Weigh In

SNOW has been the topic of several research reports. Mizuho increased their price target on shares of Snowflake from $195.00 to $205.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Cantor Fitzgerald upped their target price on shares of Snowflake from $201.00 to $228.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Bank of America increased their price target on shares of Snowflake from $185.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Rosenblatt Securities increased their price target on shares of Snowflake from $186.00 to $205.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. Finally, Evercore ISI increased their price objective on Snowflake from $190.00 to $200.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Nine research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $205.08.

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Snowflake Stock Up 0.5 %

Shares of SNOW traded up $0.75 during trading hours on Friday, hitting $157.94. The stock had a trading volume of 3,604,059 shares, compared to its average volume of 6,340,684. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a 50 day simple moving average of $172.74 and a 200-day simple moving average of $149.61. The firm has a market capitalization of $52.14 billion, a P/E ratio of -46.59 and a beta of 1.07. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40.

Insiders Place Their Bets

In related news, EVP Christian Kleinerman sold 685 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $100,859.40. Following the transaction, the executive vice president now owns 622,611 shares in the company, valued at approximately $91,673,243.64. This represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Christopher William Degnan sold 12,782 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $181.87, for a total value of $2,324,662.34. Following the sale, the executive now owns 308,164 shares in the company, valued at approximately $56,045,786.68. This represents a 3.98 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 298,429 shares of company stock valued at $50,065,812. Corporate 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.