Eagle Strategies LLC Takes Position in Snowflake Inc. (NYSE:SNOW)

Eagle Strategies LLC acquired a new position in Snowflake Inc. (NYSE:SNOW - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,684 shares of the company's stock, valued at approximately $878,000.

Other large investors also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake during the 4th quarter worth $29,000. Quadrant Capital Group LLC raised its position in Snowflake by 74.6% during the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock valued at $33,000 after purchasing an additional 91 shares in the last quarter. Blue Bell Private Wealth Management LLC lifted its stake in Snowflake by 189.5% during the fourth 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 during the last quarter. Perkins Coie Trust Co boosted its holdings in shares of Snowflake by 136.3% in 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 in the 4th quarter worth about $38,000. Institutional investors own 65.10% of the company's stock.

Analyst Ratings Changes

SNOW has been the subject of a number of recent research reports. Daiwa Capital Markets began 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. Wedbush set a $210.00 price objective on shares of Snowflake in a report on Wednesday, January 22nd. Rosenblatt Securities increased their target price on shares of Snowflake from $186.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Guggenheim reiterated a "neutral" rating on shares of Snowflake in a research report on Thursday, February 27th. Finally, BTIG Research upgraded shares of Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price target for the company in a research report on Thursday, February 20th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $200.28.

Insider Activity

In related news, CRO Christopher William Degnan sold 12,782 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $181.87, for a total value of $2,324,662.34. Following the sale, the executive now owns 308,164 shares in the company, valued at approximately $56,045,786.68. This trade represents a 3.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 292,610 shares of the company's stock, valued at approximately $47,756,878.10. This trade represents a 50.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 374,342 shares of company stock valued at $61,578,513 over the last ninety days. 7.80% of the stock is currently owned by corporate insiders.

Snowflake Stock Up 1.4 %

SNOW traded up $2.35 during trading on Friday, hitting $167.71. 3,331,414 shares of the company's stock traded hands, compared to its average volume of 6,415,425. The stock has a market capitalization of $55.36 billion, a price-to-earnings ratio of -49.47 and a beta of 1.11. The company's 50 day simple moving average is $153.46 and its two-hundred day simple moving average is $157.22. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $194.40. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77.

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.