Gallagher Capital Advisors LLC Invests $2.22 Million in Snowflake Inc. (NYSE:SNOW)

Gallagher Capital Advisors LLC acquired a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 14,398 shares of the company's stock, valued at approximately $2,223,000. Snowflake accounts for about 1.6% of Gallagher Capital Advisors LLC's portfolio, making the stock its 22nd largest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNOW. Jennison Associates LLC lifted its holdings in shares of Snowflake by 92.2% during the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock worth $1,179,230,000 after acquiring an additional 3,662,671 shares during the period. Ontario Teachers Pension Plan Board lifted its holdings in Snowflake by 19,399.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company's stock valued at $295,459,000 after purchasing an additional 2,559,144 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Snowflake by 27.9% during the 3rd quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company's stock valued at $464,402,000 after purchasing an additional 881,700 shares during the last quarter. Raymond James Financial Inc. bought a new position in Snowflake during the 4th quarter valued at about $124,433,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in Snowflake by 165.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 534,900 shares of the company's stock valued at $61,439,000 after purchasing an additional 333,500 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

Remove Ads

Snowflake Stock Up 1.8 %

SNOW traded up $2.69 during trading on Wednesday, reaching $152.59. The company had a trading volume of 6,255,200 shares, compared to its average volume of 6,430,209. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The business's fifty day moving average price is $173.51 and its 200 day moving average price is $147.59. The company has a market cap of $50.37 billion, a P/E ratio of -45.01 and a beta of 1.07.

Analyst Ratings Changes

Several brokerages recently issued reports on SNOW. BTIG Research raised shares of Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price target for the company in a report on Thursday, February 20th. Wolfe Research raised shares of Snowflake from a "peer perform" rating to an "outperform" rating and set a $235.00 price target for the company in a report on Tuesday, February 18th. UBS Group lifted their price target on shares of Snowflake from $190.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, February 27th. Wedbush set a $210.00 price objective on shares of Snowflake in a research report on Wednesday, January 22nd. Finally, Loop Capital raised their price objective on shares of Snowflake from $205.00 to $215.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $202.92.

Insider Buying and Selling at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 3,029 shares of Snowflake stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $171.00, for a total value of $517,959.00. Following the transaction, the executive vice president now owns 684,639 shares of the company's stock, valued at approximately $117,073,269. The trade was a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frank Slootman sold 6,714 shares of Snowflake stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $171.00, for a total transaction of $1,148,094.00. Following the completion of the transaction, the director now directly owns 196,454 shares in the company, valued at approximately $33,593,634. The trade was a 3.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 297,391 shares of company stock valued at $50,053,371. 7.80% of the stock is currently owned by corporate insiders.

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.