Lbmc Investment Advisors LLC Buys Shares of 3,160 Snowflake Inc. (NYSE:SNOW)

Lbmc Investment Advisors LLC purchased a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,160 shares of the company's stock, valued at approximately $488,000.

Several other hedge funds have also added to or reduced their stakes in the business. Groupama Asset Managment acquired a new position in shares of Snowflake in the third quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new position in Snowflake in the 3rd quarter valued at $30,000. Fortitude Family Office LLC bought a new position in Snowflake during the 3rd quarter worth $34,000. Perkins Coie Trust Co lifted its holdings in shares of Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock worth $37,000 after buying an additional 139 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of Snowflake by 81.3% in the third quarter. Larson Financial Group LLC now owns 339 shares of the company's stock valued at $39,000 after acquiring an additional 152 shares during the period. Institutional investors and hedge funds own 65.10% of the company's stock.

Snowflake Trading Up 1.9 %

Shares of SNOW stock traded up $3.25 during trading hours on Friday, hitting $170.89. 4,156,568 shares of the company were exchanged, compared to its average volume of 3,873,271. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $237.72. The company has a 50 day simple moving average of $161.11 and a two-hundred day simple moving average of $134.97. The firm has a market cap of $56.41 billion, a P/E ratio of -50.41 and a beta of 1.05.

Analysts Set New Price Targets

SNOW has been the subject of several analyst reports. Wells Fargo & Company upgraded shares of Snowflake from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $150.00 to $200.00 in a research note on Tuesday, January 7th. DA Davidson reiterated a "buy" rating and issued a $175.00 price target on shares of Snowflake in a research note on Thursday, October 3rd. Needham & Company LLC raised their price objective on Snowflake from $160.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, November 21st. Barclays upgraded Snowflake from an "equal weight" rating to an "overweight" rating and set a $190.00 target price for the company in a research report on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Snowflake from $180.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Snowflake presently has a consensus rating of "Moderate Buy" and an average price target of $188.06.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $180.00, for a total value of $2,700,000.00. Following the transaction, the executive vice president now directly owns 691,755 shares of the company's stock, valued at approximately $124,515,900. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Slootman sold 45,896 shares of Snowflake stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $176.06, for a total transaction of $8,080,449.76. Following the transaction, the director now owns 208,735 shares of the company's stock, valued at $36,749,884.10. This represents a 18.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 376,904 shares of company stock worth $62,545,855. 7.80% of the stock is currently owned by company insiders.

Snowflake Company 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.