MYDA Advisors LLC Purchases New Shares in Snowflake Inc. (NYSE:SNOW)

MYDA Advisors LLC 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 and Exchange Commission. The firm purchased 3,500 shares of the company's stock, valued at approximately $540,000.

Several other hedge funds also recently made changes to their positions in the business. Westside Investment Management Inc. increased its stake in Snowflake by 47.4% in the 3rd quarter. Westside Investment Management Inc. now owns 12,344 shares of the company's stock valued at $1,438,000 after buying an additional 3,971 shares during the last quarter. Wilmington Savings Fund Society FSB raised its holdings in Snowflake by 50.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 4,659 shares of the company's stock worth $535,000 after acquiring an additional 1,559 shares in the last quarter. Blankinship & Foster LLC acquired a new position in Snowflake during the third quarter valued at approximately $896,000. Synovus Financial Corp grew its stake in Snowflake by 28.6% in the third quarter. Synovus Financial Corp now owns 6,077 shares of the company's stock valued at $698,000 after purchasing an additional 1,352 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Snowflake by 1.4% during the 3rd quarter. Franklin Resources Inc. now owns 536,588 shares of the company's stock worth $66,086,000 after purchasing an additional 7,373 shares during the last quarter. 65.10% of the stock is owned by institutional investors.

Snowflake Stock Up 7.7 %

NYSE SNOW traded up $11.28 on Thursday, hitting $158.67. 6,847,827 shares of the company were exchanged, compared to its average volume of 6,416,096. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The company has a market cap of $52.38 billion, a PE ratio of -46.81 and a beta of 1.13. The stock has a fifty day moving average of $156.19 and a 200-day moving average of $154.97. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40.

Insider Activity

In other news, 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 $103,121,445. The trade was a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Christopher William Degnan sold 12,782 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $181.87, for a total transaction of $2,324,662.34. Following the completion of the sale, the executive now owns 308,164 shares in the company, valued at $56,045,786.68. This represents a 3.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 364,342 shares of company stock worth $59,978,513 in the last three months. Company insiders own 7.80% of the company's stock.

Analysts Set New Price Targets

SNOW has been the subject of several recent analyst reports. BTIG Research raised Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price objective for the company in a report on Thursday, February 20th. Piper Sandler decreased their price objective on shares of Snowflake from $215.00 to $175.00 and set an "overweight" rating for the company in a research report on Wednesday. Monness Crespi & Hardt upped their target price on shares of Snowflake from $188.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Daiwa America upgraded Snowflake to a "strong-buy" rating in a report on Tuesday, April 1st. Finally, Wedbush set a $210.00 price objective on Snowflake in a research note on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $200.27.

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.