L & S Advisors Inc Makes New $1.31 Million Investment in Snowflake Inc. (NYSE:SNOW)

L & S Advisors Inc purchased a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 8,512 shares of the company's stock, valued at approximately $1,314,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SNOW. Stonebridge Financial Group LLC purchased a new stake in shares of Snowflake in the fourth quarter valued at approximately $29,000. Groupama Asset Managment purchased a new position in shares of Snowflake in the 3rd quarter valued at about $25,000. Blue Bell Private Wealth Management LLC lifted 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 period. Perkins Coie Trust Co grew its holdings in shares of Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock worth $37,000 after acquiring an additional 139 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Snowflake by 1,437.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 246 shares of the company's stock worth $38,000 after acquiring an additional 230 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SNOW. BTIG Research raised Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 target price on the stock in a report on Thursday, February 20th. Guggenheim restated a "neutral" rating on shares of Snowflake in a research report on Thursday, February 27th. Barclays raised their price objective on shares of Snowflake from $190.00 to $203.00 and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Bank of America upped their price objective on Snowflake from $185.00 to $205.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Finally, JMP Securities reissued a "market outperform" rating and issued a $190.00 target price on shares of Snowflake in a research note on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $204.14.

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Snowflake Stock Up 2.3 %

Snowflake stock traded up $3.40 during midday trading on Tuesday, hitting $149.56. 3,422,362 shares of the company were exchanged, compared to its average volume of 6,369,472. 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 fifty-two week low of $107.13 and a fifty-two week high of $194.40. The company's fifty day moving average price is $171.49 and its 200-day moving average price is $151.82. The company has a market cap of $49.37 billion, a PE ratio of -44.12 and a beta of 1.07.

Insider Activity

In related news, Director Frank Slootman sold 1,783 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $147.24, for a total value of $262,528.92. Following the transaction, the director now owns 192,511 shares in the company, valued at approximately $28,345,319.64. The trade was a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christian Kleinerman sold 685 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $100,859.40. Following the sale, the executive vice president now owns 622,611 shares of the company's stock, valued at approximately $91,673,243.64. This trade represents a 0.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 503,968 shares of company stock worth $84,363,550. 7.80% of the stock is currently owned by company 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.