Element Pointe Advisors LLC Invests $603,000 in Snowflake Inc. (NYSE:SNOW)

Element Pointe Advisors LLC purchased a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,907 shares of the company's stock, valued at approximately $603,000.

Several other institutional investors have also added to or reduced their stakes in the business. Stonebridge Financial Group LLC acquired a new stake in Snowflake during the 4th quarter worth about $29,000. West Paces Advisors Inc. acquired a new stake in shares of Snowflake during the fourth quarter worth about $31,000. Colonial Trust Co SC acquired a new stake in shares of Snowflake during the fourth quarter worth about $33,000. Quadrant Capital Group LLC boosted its position in Snowflake by 74.6% in the fourth quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock valued at $33,000 after buying an additional 91 shares during the last quarter. Finally, Blue Bell Private Wealth Management LLC increased its holdings in Snowflake by 189.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock worth $34,000 after buying an additional 144 shares during the period. Institutional investors and hedge funds own 65.10% of the company's stock.

Snowflake Trading Up 0.1 %

Shares of SNOW traded up $0.17 during midday trading on Friday, reaching $174.14. The company had a trading volume of 2,594,452 shares, compared to its average volume of 6,389,772. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a 50 day simple moving average of $153.28 and a 200-day simple moving average of $158.77. The stock has a market cap of $57.48 billion, a PE ratio of -51.37 and a beta of 1.11.

Insider Buying and Selling

In related news, EVP Christian Kleinerman sold 15,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $171.75, for a total transaction 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 approximately $102,186,956.25. This trade represents a 2.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of the company's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total transaction of $48,963,000.00. Following the completion of the transaction, the chief financial officer now directly owns 292,610 shares in the company, valued at $47,756,878.10. The trade was a 50.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 356,963 shares of company stock worth $58,204,058. Insiders own 7.80% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on SNOW shares. 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 report on Tuesday, February 25th. Oppenheimer increased their price target on Snowflake from $200.00 to $220.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. UBS Group boosted their price objective on Snowflake from $190.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, February 27th. Barclays raised their target price on Snowflake from $190.00 to $203.00 and gave the stock an "overweight" rating in a report on Thursday, February 27th. Finally, Evercore ISI boosted their price target on Snowflake from $190.00 to $200.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Ten 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.com, the company presently has an average rating of "Moderate Buy" and an average target price of $200.28.

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.