MML Investors Services LLC Acquires 12,850 Shares of Snowflake Inc. (NYSE:SNOW)

MML Investors Services LLC grew its stake in Snowflake Inc. (NYSE:SNOW - Free Report) by 41.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,662 shares of the company's stock after purchasing an additional 12,850 shares during the quarter. MML Investors Services LLC's holdings in Snowflake were worth $6,742,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Stonebridge Financial Group LLC bought a new position in Snowflake in the fourth quarter worth $29,000. Quadrant Capital Group LLC grew 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 worth $33,000 after buying an additional 91 shares during the period. Blue Bell Private Wealth Management LLC increased its stake 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 worth $34,000 after acquiring an additional 144 shares in the last quarter. Perkins Coie Trust Co lifted its position in Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock valued at $37,000 after acquiring an additional 139 shares during the period. Finally, Geneos Wealth Management Inc. boosted its stake in Snowflake by 1,437.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company's stock worth $38,000 after acquiring an additional 230 shares in the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SNOW shares. Citigroup raised their target price on shares of Snowflake from $230.00 to $235.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. Rosenblatt Securities raised their price objective on Snowflake from $186.00 to $205.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Barclays lifted their price objective on Snowflake from $190.00 to $203.00 and gave the company an "overweight" rating in a research note on Thursday, February 27th. Evercore ISI increased their target price on Snowflake from $190.00 to $200.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Finally, Wolfe Research upgraded Snowflake from a "peer perform" rating to an "outperform" rating and set a $235.00 price target for the company in a report on Tuesday, February 18th. Ten 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 company. According to data from MarketBeat.com, Snowflake currently has a consensus rating of "Moderate Buy" and a consensus price target of $200.27.

Snowflake Price Performance

Shares of SNOW traded down $0.40 during mid-day trading on Friday, reaching $158.26. The stock had a trading volume of 4,161,157 shares, compared to its average volume of 6,426,335. The business has a fifty day moving average of $154.91 and a 200 day moving average of $156.06. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market cap of $52.24 billion, a price-to-earnings ratio of -46.68 and a beta of 1.13. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40.

Insider Activity at Snowflake

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company'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 value of $2,797,500.00. Following the completion of the transaction, the executive vice president now directly owns 552,930 shares in the company, valued at $103,121,445. This represents a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction that occurred 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 sale, the chief financial officer now owns 292,610 shares in the company, valued at approximately $47,756,878.10. The trade was a 50.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 364,342 shares of company stock worth $59,978,513. 7.80% of the stock is owned by corporate insiders.

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.