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

Capital Advantage Inc. acquired 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 firm acquired 4,364 shares of the company's stock, valued at approximately $674,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Jennison Associates LLC lifted its holdings in shares of Snowflake by 92.2% during the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock valued at $1,179,230,000 after acquiring an additional 3,662,671 shares in the last quarter. Norges Bank bought a new position in Snowflake during the fourth quarter worth $988,950,000. FMR LLC boosted its holdings in shares of Snowflake by 84.9% in the 4th quarter. FMR LLC now owns 6,108,123 shares of the company's stock valued at $943,155,000 after buying an additional 2,805,425 shares during the period. GQG Partners LLC bought a new position in shares of Snowflake during the fourth quarter valued at approximately $750,572,000. Finally, Geode Capital Management LLC grew its stake in Snowflake by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock worth $642,742,000 after buying an additional 15,314 shares during the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.

Snowflake Price Performance

NYSE:SNOW traded up $0.17 during mid-day trading on Friday, hitting $174.14. The company's stock had a trading volume of 2,594,452 shares, compared to its average volume of 6,405,620. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. The stock has a fifty day moving average of $153.28 and a 200-day moving average of $159.08. The company has a market capitalization of $57.48 billion, a price-to-earnings ratio of -51.37 and a beta of 1.11. Snowflake Inc. has a fifty-two week low of $107.13 and a fifty-two week high of $194.40.

Wall Street Analysts Forecast Growth

SNOW has been the topic of several recent analyst reports. Bank of America lifted their target price on Snowflake from $185.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Monness Crespi & Hardt lifted their price target on shares of Snowflake from $188.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Citigroup upped their price objective on shares of Snowflake from $230.00 to $235.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. Daiwa Capital Markets assumed coverage on Snowflake in a research report on Tuesday, April 1st. They issued a "buy" rating and a $210.00 target price for the company. Finally, Daiwa America upgraded shares of Snowflake to a "strong-buy" rating in a research note on Tuesday, April 1st. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $200.28.

Insider Buying and Selling

In other news, Director Frank Slootman sold 1,783 shares of Snowflake stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $147.24, for a total value of $262,528.92. Following the completion of the transaction, the director now owns 192,511 shares in the company, valued at approximately $28,345,319.64. The trade was a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total value of $2,576,250.00. Following the sale, the executive vice president now owns 594,975 shares in the company, valued at approximately $102,186,956.25. This trade represents a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 356,963 shares of company stock worth $58,204,058 in the last 90 days. 7.80% of the stock is owned by company insiders.

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.