First American Trust FSB Purchases New Position in Snowflake Inc. (NYSE:SNOW)

First American Trust FSB acquired a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 20,233 shares of the company's stock, valued at approximately $3,124,000.

Several other institutional investors have also recently made changes to their positions in SNOW. Asset Dedication LLC boosted its position in Snowflake by 6.8% during the fourth quarter. Asset Dedication LLC now owns 922 shares of the company's stock worth $142,000 after purchasing an additional 59 shares in the last quarter. Breakwater Capital Group raised its stake in shares of Snowflake by 2.2% during the 4th quarter. Breakwater Capital Group now owns 2,938 shares of the company's stock worth $454,000 after buying an additional 62 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its stake 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 increased its holdings in Snowflake by 21.8% in the 4th quarter. Larson Financial Group LLC now owns 413 shares of the company's stock worth $64,000 after acquiring an additional 74 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in Snowflake by 31.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company's stock worth $59,000 after acquiring an additional 90 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Stock Down 4.1 %

Shares of SNOW stock traded down $6.38 during trading on Friday, reaching $150.60. The company's stock had a trading volume of 4,647,822 shares, compared to its average volume of 6,381,805. The company has a market capitalization of $49.71 billion, a price-to-earnings ratio of -44.42 and a beta of 1.07. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. 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 stock's 50-day moving average price is $171.99 and its 200 day moving average price is $151.30.

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Analyst Ratings Changes

Several analysts have recently issued reports on SNOW shares. BTIG Research upgraded shares of Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 target price on the stock in a research report on Thursday, February 20th. Rosenblatt Securities boosted their price objective on Snowflake from $186.00 to $205.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Wells Fargo & Company raised their target price on Snowflake from $210.00 to $215.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. Truist Financial reiterated a "buy" rating and issued a $225.00 price objective (up previously from $210.00) on shares of Snowflake in a report on Thursday, February 27th. Finally, KeyCorp boosted their target price on Snowflake from $210.00 to $220.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $205.08.

Insiders Place Their Bets

In other Snowflake news, Director Frank Slootman sold 100,000 shares of the business's stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the completion of the transaction, the director now owns 195,281 shares in the company, valued at $30,268,555. The trade was a 33.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at approximately $47,756,878.10. This represents a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 603,968 shares of company stock worth $99,863,550 over the last 90 days. Corporate 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.