Compound Planning Inc. Invests $324,000 in Snowflake Inc. $SNOW

Key Points

• Compound Planning Inc. invested approximately $324,000 in Snowflake Inc., acquiring 2,216 shares during the first quarter.
• Several other institutional investors have also shown interest in Snowflake, with over 65% of the stock currently owned by institutional investors.
• Analysts have raised their price targets on Snowflake, with new targets ranging from $235.00 to $250.00, indicating strong confidence in the company's performance.

Compound Planning Inc. acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,216 shares of the company's stock, valued at approximately $324,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in Snowflake during the 1st quarter valued at about $26,000. CVA Family Office LLC increased its stake in Snowflake by 80.0% during the 1st quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after purchasing an additional 88 shares in the last quarter. West Paces Advisors Inc. bought a new stake in Snowflake during the 4th quarter valued at about $31,000. Spurstone Advisory Services LLC bought a new stake in Snowflake during the 4th quarter valued at about $31,000. Finally, Capital A Wealth Management LLC bought a new stake in Snowflake during the 4th quarter valued at about $31,000. 65.10% of the stock is currently owned by institutional investors.

Snowflake Stock Performance

SNOW opened at $194.63 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94. The company has a market cap of $64.98 billion, a price-to-earnings ratio of -46.23 and a beta of 1.22. The company's 50 day moving average is $210.53 and its 200 day moving average is $185.04. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $229.27.

Insider Buying and Selling

In related news, Director Michael L. Speiser sold 50,338 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $211.35, for a total value of $10,638,936.30. Following the transaction, the director owned 37,796 shares of the company's stock, valued at approximately $7,988,184.60. This trade represents a 57.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frank Slootman sold 424,852 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $219.35, for a total transaction of $93,191,286.20. Following the completion of the transaction, the director directly owned 165,507 shares in the company, valued at approximately $36,303,960.45. The trade was a 71.97% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,516,826 shares of company stock worth $555,691,052. 6.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on SNOW shares. Loop Capital raised their price objective on shares of Snowflake from $220.00 to $245.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Cantor Fitzgerald raised their price objective on shares of Snowflake from $183.00 to $242.00 and gave the company an "overweight" rating in a research note on Thursday, May 22nd. Wells Fargo & Company restated an "overweight" rating and set a $250.00 price objective (up from $225.00) on shares of Snowflake in a research note on Friday, June 13th. Mizuho raised their price target on shares of Snowflake from $215.00 to $235.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Finally, Evercore ISI reaffirmed a "buy" rating on shares of Snowflake in a report on Wednesday, June 4th. Three analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $230.22.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.