EFG Asset Management North America Corp. Makes New Investment in Snowflake Inc. (NYSE:SNOW)

EFG Asset Management North America Corp. purchased a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,840 shares of the company's stock, valued at approximately $1,829,000.

Several other large investors have also recently added to or reduced their stakes in the company. Asset Dedication LLC lifted its position in shares of Snowflake by 6.8% in the 4th quarter. Asset Dedication LLC now owns 922 shares of the company's stock worth $142,000 after buying an additional 59 shares during the last quarter. Breakwater Capital Group grew its position in shares of Snowflake by 2.2% during the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company's stock worth $454,000 after acquiring an additional 62 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in Snowflake by 0.6% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company's stock valued at $2,077,000 after acquiring an additional 69 shares during the period. Larson Financial Group LLC boosted its position in shares of Snowflake by 21.8% during the 4th quarter. Larson Financial Group LLC now owns 413 shares of the company's stock valued at $64,000 after purchasing an additional 74 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Snowflake by 31.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company's stock worth $59,000 after buying an additional 90 shares during the period. 65.10% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

SNOW has been the topic of several recent analyst reports. Monness Crespi & Hardt boosted their target price on shares of Snowflake from $188.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. BTIG Research upgraded shares of 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. Jefferies Financial Group increased their price objective on Snowflake from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Oppenheimer boosted their target price on Snowflake from $200.00 to $220.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group raised their price target on Snowflake from $190.00 to $220.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Nine investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $205.08.

Insider Transactions at Snowflake

In related news, Director Frank Slootman sold 1,783 shares of Snowflake stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total transaction of $262,528.92. Following the completion of the sale, the director now owns 192,511 shares of the company's stock, valued at approximately $28,345,319.64. The trade was a 0.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Christopher William Degnan sold 12,782 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $157.24, for a total value of $2,009,841.68. Following the completion of the sale, the executive now owns 311,999 shares of the company's stock, valued at approximately $49,058,722.76. This trade represents a 3.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 603,968 shares of company stock worth $99,863,550. 7.80% of the stock is owned by company insiders.

Snowflake Stock Down 4.1 %

Shares of NYSE:SNOW traded down $6.38 during midday trading on Friday, hitting $150.60. The stock had a trading volume of 4,647,822 shares, compared to its average volume of 6,381,805. The company has a market cap of $49.71 billion, a P/E ratio of -44.42 and a beta of 1.07. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The business's 50-day simple moving average is $171.99 and its 200-day simple moving average is $151.30. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Snowflake 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.