Beacon Pointe Advisors LLC Raises Stake in Snowflake Inc. (NYSE:SNOW)

Beacon Pointe Advisors LLC grew its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 422.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 102,504 shares of the company's stock after purchasing an additional 82,888 shares during the period. Beacon Pointe Advisors LLC's holdings in Snowflake were worth $15,828,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in SNOW. Stonebridge Financial Group LLC purchased a new position in shares of Snowflake during the 4th quarter worth approximately $29,000. Quadrant Capital Group LLC increased its stake in shares of Snowflake by 74.6% during the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock worth $33,000 after purchasing an additional 91 shares in the last quarter. Blue Bell Private Wealth Management LLC increased its stake in shares of Snowflake by 189.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock worth $34,000 after purchasing an additional 144 shares in the last quarter. Perkins Coie Trust Co increased its stake in shares of Snowflake by 136.3% during the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock worth $37,000 after purchasing an additional 139 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Snowflake during the 4th quarter worth approximately $38,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Snowflake

In other news, CFO Michael Scarpelli sold 300,000 shares of the business's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the sale, the chief financial officer now owns 292,610 shares in the company, valued at approximately $47,756,878.10. The trade was a 50.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christian Kleinerman sold 10,000 shares of the business's stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $160.00, for a total transaction of $1,600,000.00. Following the sale, the executive vice president now directly owns 590,632 shares in the company, valued at approximately $94,501,120. This represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 374,342 shares of company stock valued at $61,578,513. 7.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on SNOW shares. Oppenheimer lifted their target price on shares of Snowflake from $200.00 to $220.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Mizuho lifted their target price on shares of Snowflake from $195.00 to $205.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Canaccord Genuity Group lifted their target price on shares of Snowflake from $190.00 to $220.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. KeyCorp lowered their target price on shares of Snowflake from $220.00 to $192.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, Barclays lifted their price target on shares of Snowflake from $190.00 to $203.00 and gave the company an "overweight" rating in a report on Thursday, February 27th. Ten investment analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Snowflake has an average rating of "Moderate Buy" and an average target price of $200.27.

Snowflake Stock Up 0.4 %

Shares of NYSE:SNOW opened at $158.96 on Tuesday. The business has a 50 day simple moving average of $154.37 and a two-hundred day simple moving average of $156.30. The firm has a market capitalization of $52.47 billion, a PE ratio of -46.89 and a beta of 1.13. 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 1 year low of $107.13 and a 1 year high of $194.40.

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.

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