Hershey Trust Co. Makes New Investment in Snowflake Inc. (NYSE:SNOW)

Hershey Trust Co. purchased a new position in Snowflake Inc. (NYSE:SNOW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,790 shares of the company's stock, valued at approximately $1,203,000. Snowflake comprises 0.0% of Hershey Trust Co.'s holdings, making the stock its 3rd biggest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of SNOW. Prospect Financial Services LLC purchased a new position in Snowflake during the fourth quarter valued at approximately $288,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Snowflake by 1.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company's stock worth $104,028,000 after purchasing an additional 8,857 shares during the last quarter. Bourgeon Capital Management LLC bought a new stake in shares of Snowflake during the 4th quarter worth $5,851,000. Stephens Consulting LLC grew its stake in Snowflake by 7,407.4% in the 4th quarter. Stephens Consulting LLC now owns 2,027 shares of the company's stock valued at $313,000 after buying an additional 2,000 shares during the last quarter. Finally, Kirtland Hills Capital Management LLC raised its holdings in Snowflake by 40.1% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company's stock worth $2,458,000 after acquiring an additional 4,559 shares during the period. 65.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada increased their price objective on Snowflake from $210.00 to $221.00 and gave the company an "outperform" rating in a research report on Thursday, February 27th. Rosenblatt Securities upped their price target on Snowflake from $186.00 to $205.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Daiwa Capital Markets assumed coverage on shares of Snowflake in a report on Tuesday, April 1st. They set a "buy" rating and a $210.00 price objective for the company. Daiwa America raised Snowflake to a "strong-buy" rating in a report on Tuesday, April 1st. Finally, Oppenheimer upped their price objective on Snowflake from $200.00 to $220.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. 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, the company has an average rating of "Moderate Buy" and a consensus price target of $200.27.

Snowflake Stock Up 3.8 %

SNOW traded up $6.03 on Thursday, hitting $165.52. 5,100,852 shares of the company were exchanged, compared to its average volume of 6,401,641. 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 stock's fifty day moving average is $153.39 and its 200-day moving average is $156.65. Snowflake Inc. has a 12 month low of $107.13 and a 12 month high of $194.40. The company has a market cap of $54.64 billion, a PE ratio of -48.83 and a beta of 1.13.

Insider Transactions at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the transaction, the executive vice president now owns 552,930 shares in the company, valued at approximately $103,121,445. This represents a 2.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $129.25, for a total value of $52,087.75. Following the sale, the director now directly owns 26,375 shares of the company's stock, valued at approximately $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. Insiders have sold 374,342 shares of company stock worth $61,578,513 in the last ninety days. Insiders own 7.80% of the company's stock.

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.