Washington Capital Management Inc. Invests $602,000 in Snowflake Inc. (NYSE:SNOW)

Washington Capital Management Inc. bought a new position in Snowflake Inc. (NYSE:SNOW - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,900 shares of the company's stock, valued at approximately $602,000.

Other hedge funds have also made changes to their positions in the company. State Street Corp grew its stake in Snowflake by 0.8% during the 3rd quarter. State Street Corp now owns 6,867,097 shares of the company's stock valued at $788,755,000 after purchasing an additional 54,909 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Snowflake by 3.5% in the third quarter. Geode Capital Management LLC now owns 4,152,146 shares of the company's stock worth $475,894,000 after buying an additional 138,663 shares during the last quarter. Two Sigma Advisers LP grew its holdings in Snowflake by 27.9% during the third quarter. Two Sigma Advisers LP now owns 4,043,200 shares of the company's stock worth $464,402,000 after acquiring an additional 881,700 shares during the period. Ontario Teachers Pension Plan Board raised its position in Snowflake by 19,399.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,572,336 shares of the company's stock valued at $295,459,000 after acquiring an additional 2,559,144 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Snowflake by 2.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,935,779 shares of the company's stock valued at $222,344,000 after acquiring an additional 51,366 shares during the period. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total transaction of $1,811,550.00. Following the completion of the transaction, the executive vice president now owns 706,755 shares in the company, valued at approximately $85,354,801.35. This trade represents a 2.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Frank Slootman sold 45,896 shares of Snowflake stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $176.06, for a total value of $8,080,449.76. Following the completion of the transaction, the director now owns 208,735 shares in the company, valued at $36,749,884.10. The trade was a 18.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 504,151 shares of company stock valued at $84,973,139. Corporate insiders own 7.80% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SNOW. Loop Capital upped their price target on shares of Snowflake from $185.00 to $205.00 and gave the stock a "buy" rating in a research report on Monday, December 23rd. Piper Sandler lifted their price target on Snowflake from $185.00 to $208.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Monness Crespi & Hardt increased their price objective on Snowflake from $140.00 to $188.00 and gave the company a "buy" rating in a research note on Thursday, November 21st. Jefferies Financial Group lifted their target price on shares of Snowflake from $180.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, December 16th. Finally, Cantor Fitzgerald initiated coverage on shares of Snowflake in a research note on Friday, January 17th. They issued an "overweight" rating and a $201.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Snowflake has a consensus rating of "Moderate Buy" and an average target price of $188.06.

Snowflake Trading Down 1.6 %

SNOW traded down $2.93 on Thursday, reaching $179.95. 3,879,842 shares of the company's stock were exchanged, compared to its average volume of 5,109,432. The company's 50 day moving average is $169.02 and its 200-day moving average is $137.06. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $237.72. 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 company has a market cap of $59.40 billion, a price-to-earnings ratio of -53.01 and a beta of 1.05.

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.