Circle Wealth Management LLC Has $2.71 Million Position in Snowflake Inc. (NYSE:SNOW)

Circle Wealth Management LLC grew its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 48.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,530 shares of the company's stock after purchasing an additional 5,734 shares during the period. Circle Wealth Management LLC's holdings in Snowflake were worth $2,707,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Jennison Associates LLC boosted its position in shares of Snowflake by 92.2% in the 4th quarter. Jennison Associates LLC now owns 7,637,006 shares of the company's stock worth $1,179,230,000 after buying an additional 3,662,671 shares in the last quarter. Norges Bank purchased a new position in Snowflake in the 4th quarter valued at about $988,950,000. FMR LLC lifted its holdings in 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 purchasing an additional 2,805,425 shares in the last quarter. GQG Partners LLC purchased a new position in Snowflake in the 4th quarter valued at about $750,572,000. Finally, Geode Capital Management LLC lifted its holdings in Snowflake by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 4,167,460 shares of the company's stock valued at $642,742,000 after purchasing an additional 15,314 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Stock Performance

NYSE SNOW traded up $1.23 during trading on Tuesday, hitting $181.77. The company's stock had a trading volume of 2,847,881 shares, compared to its average volume of 5,314,626. The firm has a market cap of $60.00 billion, a P/E ratio of -53.62 and a beta of 1.11. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The firm has a 50 day moving average price of $153.34 and a 200 day moving average price of $159.84.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Daiwa America upgraded shares of Snowflake to a "strong-buy" rating in a report on Tuesday, April 1st. Royal Bank of Canada upped their target price on shares of Snowflake from $210.00 to $221.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Canaccord Genuity Group upped their price objective on shares of Snowflake from $190.00 to $220.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. Oppenheimer upped their price objective on shares of Snowflake from $200.00 to $220.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. Finally, Rosenblatt Securities upped their price objective on shares of Snowflake from $186.00 to $205.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Snowflake presently has an average rating of "Moderate Buy" and a consensus price target of $200.28.

Insider Activity

In other news, CFO Michael Scarpelli sold 300,000 shares of the stock in a transaction on 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. This represents a 50.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $129.25, for a total value of $52,087.75. Following the transaction, the director now directly owns 26,375 shares in the company, valued at $3,408,968.75. This trade represents a 1.50% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 356,963 shares of company stock worth $58,204,058. Company insiders own 7.80% of the company's stock.

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.