Trueblood Wealth Management LLC Invests $276,000 in Snowflake Inc. (NYSE:SNOW)

Trueblood Wealth Management LLC acquired a new position in Snowflake Inc. (NYSE:SNOW - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,785 shares of the company's stock, valued at approximately $276,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNOW. Breakwater Capital Group boosted its position in shares of Snowflake by 2.2% during the 4th quarter. Breakwater Capital Group now owns 2,938 shares of the company's stock worth $454,000 after purchasing an additional 62 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Snowflake by 31.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company's stock worth $59,000 after purchasing an additional 90 shares in the last quarter. Modus Advisors LLC grew its position in Snowflake by 3.9% in the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company's stock valued at $286,000 after purchasing an additional 94 shares during the period. Catalyst Private Wealth LLC increased its stake in Snowflake by 3.2% during the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company's stock valued at $382,000 after purchasing an additional 104 shares in the last quarter. Finally, Clear Creek Financial Management LLC raised its holdings in Snowflake by 6.7% during the third quarter. Clear Creek Financial Management LLC now owns 1,829 shares of the company's stock worth $210,000 after buying an additional 115 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Price Performance

SNOW stock traded up $3.25 during mid-day trading on Monday, hitting $170.89. 4,156,568 shares of the stock were exchanged, compared to its average volume of 3,873,271. The stock has a market capitalization of $56.41 billion, a price-to-earnings ratio of -50.41 and a beta of 1.05. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $237.72. The business has a fifty day moving average price of $161.11 and a 200 day moving average price of $134.92.

Insiders Place Their Bets

In related news, CRO Christopher William Degnan sold 76,692 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the transaction, the executive now directly owns 346,741 shares in the company, valued at $58,398,119.22. This trade represents a 18.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the transaction, the executive vice president now directly owns 706,755 shares in the company, valued at $85,354,801.35. This trade represents a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 376,904 shares of company stock valued at $62,545,855 over the last quarter. 7.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SNOW shares. Mizuho boosted their target price on shares of Snowflake from $165.00 to $195.00 and gave the stock an "outperform" rating in a research report on Thursday, November 21st. TD Cowen boosted their price objective on Snowflake from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, November 21st. StockNews.com lowered Snowflake from a "hold" rating to a "sell" rating in a report on Thursday. Cantor Fitzgerald assumed coverage on Snowflake in a report on Friday. They set an "overweight" rating and a $201.00 price target for the company. Finally, Oppenheimer raised their price objective on Snowflake from $180.00 to $200.00 and gave the company an "outperform" rating in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $188.06.

Snowflake 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.