Grant Private Wealth Management Inc Invests $487,000 in Snowflake Inc. (NYSE:SNOW)

Grant Private Wealth Management Inc acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 3,096 shares of the company's stock, valued at approximately $487,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNOW. World Investment Advisors bought a new stake in Snowflake during the 4th quarter worth approximately $331,000. Creekmur Asset Management LLC grew its stake in shares of Snowflake by 400.2% in the fourth quarter. Creekmur Asset Management LLC now owns 2,696 shares of the company's stock worth $416,000 after purchasing an additional 2,157 shares during the last quarter. Ardmore Road Asset Management LP acquired a new stake in Snowflake in the fourth quarter valued at $18,529,000. Huntington National Bank raised its position in Snowflake by 40.9% during the 4th quarter. Huntington National Bank now owns 978 shares of the company's stock worth $151,000 after purchasing an additional 284 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Snowflake by 0.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 98,459 shares of the company's stock worth $15,203,000 after buying an additional 492 shares during the period. Institutional investors own 65.10% of the company's stock.

Insider Activity

In other Snowflake news, CRO Christopher William Degnan sold 12,782 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.87, for a total value of $2,324,662.34. Following the transaction, the executive now directly owns 308,164 shares in the company, valued at $56,045,786.68. The trade was a 3.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the sale, the executive vice president now owns 552,930 shares of the company's stock, valued at approximately $103,121,445. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 491,186 shares of company stock valued at $82,353,709 over the last three months. Corporate insiders own 7.80% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group decreased their price target on Snowflake from $220.00 to $190.00 and set a "buy" rating for the company in a research note on Monday, March 31st. BTIG Research raised shares of Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 target price for the company in a research report on Thursday, February 20th. Daiwa Capital Markets initiated coverage on shares of Snowflake in a research report on Tuesday, April 1st. They issued a "buy" rating and a $210.00 price target on the stock. Scotiabank increased their price objective on shares of Snowflake from $170.00 to $220.00 and gave the stock a "sector outperform" rating in a research report on Monday, December 9th. Finally, Cantor Fitzgerald lifted 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. Ten investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $203.05.

Snowflake Stock Down 6.8 %

Snowflake stock traded down $9.49 during midday trading on Friday, hitting $130.41. 8,210,700 shares of the stock were exchanged, compared to its average volume of 6,400,660. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $43.05 billion, a price-to-earnings ratio of -38.47 and a beta of 1.13. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The business's 50-day moving average price is $168.97 and its 200-day moving average price is $152.40.

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.