Snowflake Inc. (NYSE:SNOW) Shares Bought by Iron Gate Global Advisors LLC

Iron Gate Global Advisors LLC boosted its holdings in Snowflake Inc. (NYSE:SNOW - Free Report) by 87.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,885 shares of the company's stock after acquiring an additional 25,627 shares during the period. Snowflake accounts for about 1.2% of Iron Gate Global Advisors LLC's portfolio, making the stock its 19th largest holding. Iron Gate Global Advisors LLC's holdings in Snowflake were worth $8,475,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Jennison Associates LLC lifted its holdings in shares of Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock worth $1,179,230,000 after acquiring an additional 3,662,671 shares during the last quarter. Norges Bank purchased a new stake in Snowflake in the fourth quarter valued at approximately $988,950,000. FMR LLC lifted its stake in Snowflake by 84.9% during the fourth quarter. FMR LLC now owns 6,108,123 shares of the company's stock worth $943,155,000 after purchasing an additional 2,805,425 shares in the last quarter. GQG Partners LLC purchased a new position in shares of Snowflake during the fourth quarter worth $750,572,000. Finally, Geode Capital Management LLC grew its stake in shares of Snowflake by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock valued at $642,742,000 after buying an additional 15,314 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SNOW has been the subject of a number of research analyst reports. Loop Capital raised their target price on Snowflake from $205.00 to $215.00 and gave the company a "buy" rating in a report on Thursday, February 27th. BTIG Research upgraded shares of 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. Monness Crespi & Hardt upped their target price on shares of Snowflake from $188.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Wells Fargo & Company raised their price target on shares of Snowflake from $210.00 to $215.00 and gave the company an "overweight" rating in a research report on Thursday, February 27th. Finally, Wedbush set a $210.00 price objective on Snowflake in a research report on Wednesday, January 22nd. Ten equities research 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 company's stock. According to data from MarketBeat.com, Snowflake presently has a consensus rating of "Moderate Buy" and an average target price of $201.76.

Insider Transactions at Snowflake

In other Snowflake news, Director Frank Slootman sold 127,247 shares of the firm's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $176.25, for a total value of $22,427,283.75. Following the completion of the sale, the director now owns 195,281 shares of the company's stock, valued at approximately $34,418,276.25. This trade represents a 39.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael L. Speiser sold 403 shares of the business's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $129.25, for a total transaction of $52,087.75. Following the sale, the director now owns 26,375 shares in the company, valued at $3,408,968.75. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 491,589 shares of company stock worth $82,405,796. Company insiders own 7.80% of the company's stock.

Snowflake Stock Performance

Shares of NYSE SNOW traded down $2.74 during mid-day trading on Friday, hitting $143.34. 2,483,780 shares of the company were exchanged, compared to its average volume of 6,421,229. The stock has a 50 day simple moving average of $159.07 and a 200-day simple moving average of $154.35. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a market cap of $47.32 billion, a price-to-earnings ratio of -42.28 and a beta of 1.13.

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.