Mission Creek Capital Partners Inc. Buys New Shares in Snowflake Inc. (NYSE:SNOW)

Mission Creek Capital Partners Inc. purchased a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 28,815 shares of the company's stock, valued at approximately $4,449,000. Snowflake accounts for about 0.9% of Mission Creek Capital Partners Inc.'s investment portfolio, making the stock its 28th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of SNOW. Prospect Financial Services LLC bought a new position in Snowflake in the fourth quarter worth $288,000. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Snowflake by 1.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company's stock valued at $104,028,000 after acquiring an additional 8,857 shares in the last quarter. Bourgeon Capital Management LLC bought a new stake in Snowflake in the fourth quarter valued at about $5,851,000. Stephens Consulting LLC increased its stake in Snowflake by 7,407.4% in the fourth quarter. Stephens Consulting LLC now owns 2,027 shares of the company's stock valued at $313,000 after acquiring an additional 2,000 shares during the period. Finally, Kirtland Hills Capital Management LLC raised its position in Snowflake by 40.1% in the fourth quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company's stock worth $2,458,000 after purchasing an additional 4,559 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the transaction, the director now owns 26,375 shares in the company, valued at $3,408,968.75. This represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Scarpelli sold 300,000 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the sale, the chief financial officer now directly owns 292,610 shares in the company, valued at $47,756,878.10. This represents a 50.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 364,342 shares of company stock valued at $59,978,513. 7.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SNOW shares. Macquarie initiated coverage on Snowflake in a research note on Wednesday, April 2nd. They issued a "neutral" rating and a $160.00 price objective on the stock. Mizuho upped their price target on Snowflake from $195.00 to $205.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Needham & Company LLC lifted their price objective on Snowflake from $200.00 to $215.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Piper Sandler lowered their target price on shares of Snowflake from $215.00 to $175.00 and set an "overweight" rating on the stock in a report on Wednesday. Finally, Oppenheimer lifted their price target on shares of Snowflake from $200.00 to $220.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Ten analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $200.27.

Snowflake Stock Down 0.3 %

Shares of Snowflake stock opened at $158.26 on Friday. The company has a market capitalization of $52.24 billion, a P/E ratio of -46.68 and a beta of 1.13. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The business has a 50-day moving average of $154.91 and a two-hundred day moving average of $155.84. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40.

About Snowflake

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.

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