Cresset Asset Management LLC Purchases 5,324 Shares of Snowflake Inc. (NYSE:SNOW)

Cresset Asset Management LLC increased its holdings in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 18.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,088 shares of the company's stock after purchasing an additional 5,324 shares during the period. Cresset Asset Management LLC's holdings in Snowflake were worth $5,264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of SNOW. Asset Dedication LLC grew its stake in Snowflake by 6.8% during the 4th quarter. Asset Dedication LLC now owns 922 shares of the company's stock valued at $142,000 after purchasing an additional 59 shares in the last quarter. Quarry LP boosted its stake in shares of Snowflake by 9.8% during the 4th quarter. Quarry LP now owns 662 shares of the company's stock valued at $102,000 after buying an additional 59 shares during the last quarter. Breakwater Capital Group raised its holdings in Snowflake by 2.2% in the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company's stock valued at $454,000 after acquiring an additional 62 shares in the last quarter. Gabelli Funds LLC raised its holdings in Snowflake by 3.3% in the fourth quarter. Gabelli Funds LLC now owns 2,050 shares of the company's stock valued at $317,000 after acquiring an additional 65 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its holdings in Snowflake by 0.6% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,191 shares of the company's stock valued at $2,077,000 after acquiring an additional 69 shares in the last quarter. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

Snowflake Price Performance

Shares of Snowflake stock traded up $0.17 on Friday, hitting $174.14. The company had a trading volume of 2,594,452 shares, compared to its average volume of 6,405,620. The company has a market cap of $57.48 billion, a PE ratio of -51.37 and a beta of 1.11. 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 52 week low of $107.13 and a 52 week high of $194.40. The business has a 50-day simple moving average of $153.28 and a 200-day simple moving average of $159.39.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SNOW. UBS Group lifted their price target on Snowflake from $190.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday, February 27th. Jefferies Financial Group dropped their price target on Snowflake from $220.00 to $190.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Needham & Company LLC upped their price target on Snowflake from $200.00 to $215.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Monness Crespi & Hardt boosted their target price on shares of Snowflake from $188.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Finally, Wolfe Research upgraded shares of Snowflake from a "peer perform" rating to an "outperform" rating and set a $235.00 target price for the company in a research note on Tuesday, February 18th. 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 company's stock. According to data from MarketBeat, Snowflake currently has an average rating of "Moderate Buy" and a consensus price target of $200.28.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of the company's stock in a transaction 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 transaction, the executive vice president now owns 594,975 shares of the company's stock, valued at approximately $102,186,956.25. This represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael L. Speiser sold 403 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $168.01, for a total value of $67,708.03. Following the completion of the transaction, the director now directly owns 25,972 shares in the company, valued at $4,363,555.72. This represents a 1.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 356,963 shares of company stock worth $58,204,058 over the last ninety days. Company insiders own 7.80% of the company's stock.

Snowflake Company 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.