MIG Capital LLC Takes $316,000 Position in Snowflake Inc. (NYSE:SNOW)

MIG Capital LLC bought a new position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,049 shares of the company's stock, valued at approximately $316,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Groupama Asset Managment bought a new stake in Snowflake in the third quarter valued at about $25,000. Stonebridge Financial Group LLC acquired a new position in shares of Snowflake during the 4th quarter worth about $29,000. Quadrant Capital Group LLC raised its position in shares of Snowflake by 74.6% in the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock valued at $33,000 after acquiring an additional 91 shares during the period. Blue Bell Private Wealth Management LLC raised its position in shares of Snowflake by 189.5% in 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. Finally, Perkins Coie Trust Co boosted its stake in Snowflake by 136.3% during 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 last quarter. Institutional investors own 65.10% of the company's stock.

Insider Buying and Selling at Snowflake

In other Snowflake news, Director Frank Slootman sold 127,247 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total transaction of $22,427,283.75. Following the transaction, the director now owns 195,281 shares in the company, valued at $34,418,276.25. This trade represents a 39.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the sale, the executive vice president now directly 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 have sold a total of 491,589 shares of company stock worth $82,405,796 over the last ninety days. Insiders own 7.80% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Oppenheimer upped their target price on shares of Snowflake from $200.00 to $220.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. Mizuho raised their price objective on Snowflake from $195.00 to $205.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Jefferies Financial Group reduced their target price on Snowflake from $220.00 to $190.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Stifel Nicolaus increased their price target on Snowflake from $187.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Finally, Rosenblatt Securities lifted their price objective on Snowflake from $186.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Ten equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $201.84.

Snowflake Stock Performance

SNOW traded down $0.75 during trading hours on Friday, reaching $143.70. The company's stock had a trading volume of 1,875,227 shares, compared to its average volume of 6,433,818. The company's 50-day moving average is $164.05 and its 200-day moving average is $153.31. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The firm has a market cap of $47.44 billion, a PE ratio of -42.55 and a beta of 1.13. 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 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.