Ethic Inc. Purchases 3,734 Shares of Snowflake Inc. (NYSE:SNOW)

Ethic Inc. lifted its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 17.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,822 shares of the company's stock after buying an additional 3,734 shares during the quarter. Ethic Inc.'s holdings in Snowflake were worth $3,833,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Prospect Financial Services LLC acquired a new stake in shares of Snowflake during the fourth quarter worth approximately $288,000. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Snowflake by 1.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,715 shares of the company's stock worth $104,028,000 after buying an additional 8,857 shares in the last quarter. Bourgeon Capital Management LLC acquired a new stake in shares of Snowflake during the fourth quarter worth approximately $5,851,000. Stephens Consulting LLC grew its position in shares of Snowflake by 7,407.4% during the fourth quarter. Stephens Consulting LLC now owns 2,027 shares of the company's stock worth $313,000 after buying an additional 2,000 shares in the last quarter. Finally, Kirtland Hills Capital Management LLC grew its position in shares of Snowflake by 40.1% during the fourth quarter. Kirtland Hills Capital Management LLC now owns 15,920 shares of the company's stock worth $2,458,000 after buying an additional 4,559 shares in the last quarter. Institutional investors and hedge funds own 65.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SNOW. Truist Financial decreased their price target on shares of Snowflake from $225.00 to $210.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Wedbush set a $210.00 price objective on shares of Snowflake in a report on Wednesday, January 22nd. Macquarie initiated coverage on shares of Snowflake in a report on Wednesday, April 2nd. They issued a "neutral" rating and a $160.00 price objective for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $183.00 price objective on shares of Snowflake in a report on Wednesday, April 2nd. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Snowflake in a report on Thursday, February 27th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $200.28.

Insiders Place Their Bets

In other Snowflake news, EVP Christian Kleinerman sold 15,000 shares of Snowflake 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 transaction, the executive vice president now owns 594,975 shares of the company's stock, valued at $102,186,956.25. The trade was a 2.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael Scarpelli sold 300,000 shares of Snowflake stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $163.21, for a total value of $48,963,000.00. Following the transaction, the chief financial officer now directly owns 292,610 shares in the company, 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. In the last quarter, insiders have sold 356,963 shares of company stock worth $58,204,058. Company insiders own 7.80% of the company's stock.

Snowflake Trading Up 0.3%

NYSE SNOW traded up $0.55 on Tuesday, hitting $181.09. 4,139,818 shares of the company were exchanged, compared to its average volume of 6,400,956. The company's 50 day moving average price is $153.84 and its 200-day moving average price is $159.99. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market capitalization of $59.78 billion, a P/E ratio of -53.42 and a beta of 1.11. Snowflake Inc. has a twelve month low of $107.13 and a twelve month high of $194.40.

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.