Capital Advantage Inc. Makes New $674,000 Investment in Snowflake Inc. (NYSE:SNOW)

Capital Advantage Inc. bought a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,364 shares of the company's stock, valued at approximately $674,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB lifted its position in shares of Snowflake by 50.3% during the third quarter. Wilmington Savings Fund Society FSB now owns 4,659 shares of the company's stock worth $535,000 after purchasing an additional 1,559 shares during the last quarter. Synovus Financial Corp boosted its position in Snowflake by 28.6% in the 3rd quarter. Synovus Financial Corp now owns 6,077 shares of the company's stock valued at $698,000 after buying an additional 1,352 shares during the period. Franklin Resources Inc. grew its stake in Snowflake by 1.4% in the 3rd quarter. Franklin Resources Inc. now owns 536,588 shares of the company's stock worth $66,086,000 after acquiring an additional 7,373 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Snowflake by 59.6% during the fourth quarter. GAMMA Investing LLC now owns 391 shares of the company's stock worth $60,000 after acquiring an additional 146 shares during the period. Finally, Nordea Investment Management AB raised its stake in shares of Snowflake by 2.3% during the fourth quarter. Nordea Investment Management AB now owns 23,911 shares of the company's stock valued at $3,682,000 after acquiring an additional 536 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Stock Performance

Shares of SNOW opened at $167.87 on Tuesday. 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 firm has a fifty day moving average of $153.50 and a 200-day moving average of $157.82. The company has a market cap of $55.41 billion, a price-to-earnings ratio of -49.52 and a beta of 1.11. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40.

Insider Buying and Selling

In other news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total value of $2,576,250.00. Following the completion of the sale, the executive vice president now directly owns 594,975 shares of the company's stock, valued at $102,186,956.25. This represents a 2.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the sale, the director now owns 26,375 shares of the company's stock, valued at approximately $3,408,968.75. This represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 356,963 shares of company stock valued at $58,204,058 over the last quarter. Corporate insiders own 7.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on SNOW. Oppenheimer raised 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. Cantor Fitzgerald restated an "overweight" rating and issued a $183.00 price objective on shares of Snowflake in a report on Wednesday, April 2nd. Mizuho raised their target price on shares of Snowflake from $195.00 to $205.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Royal Bank of Canada upped their price target on shares of Snowflake from $210.00 to $221.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Finally, Monness Crespi & Hardt upped their target price on Snowflake from $188.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $200.28.

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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