FORA Capital LLC Acquires Shares of 17,185 Snowflake Inc. $SNOW

Key Points

• FORA Capital LLC acquired 17,185 shares of Snowflake Inc. valued at approximately $2.51 million during the first quarter.
• Several large investors have increased their stakes in Snowflake, leading to institutional ownership of 65.10% of the company's stock.
• Investment firms have upgraded their price targets for Snowflake, with Truist Financial setting a target of $235.00 and Citigroup raising theirs to $250.00, reflecting strong investor confidence.

FORA Capital LLC acquired a new stake in Snowflake Inc. (NYSE:SNOW - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 17,185 shares of the company's stock, valued at approximately $2,512,000.

Other large investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new position in shares of Snowflake in the first quarter valued at $26,000. CVA Family Office LLC lifted its stake in shares of Snowflake by 80.0% in the first quarter. CVA Family Office LLC now owns 198 shares of the company's stock valued at $29,000 after buying an additional 88 shares in the last quarter. West Paces Advisors Inc. bought a new position in shares of Snowflake in the fourth quarter valued at $31,000. Spurstone Advisory Services LLC bought a new position in shares of Snowflake in the fourth quarter valued at $31,000. Finally, Capital A Wealth Management LLC bought a new position in shares of Snowflake in the fourth quarter valued at $31,000. 65.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on SNOW. Truist Financial raised their price target on shares of Snowflake from $210.00 to $235.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Citigroup raised their price target on shares of Snowflake from $245.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, August 22nd. JMP Securities reissued a "market outperform" rating and set a $260.00 price target on shares of Snowflake in a research report on Tuesday. BTIG Research reissued a "buy" rating on shares of Snowflake in a research report on Thursday, May 22nd. Finally, Royal Bank Of Canada raised their price target on shares of Snowflake from $236.00 to $250.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $230.22.

Snowflake Stock Performance

NYSE SNOW opened at $194.63 on Wednesday. The company has a market capitalization of $64.98 billion, a PE ratio of -46.23 and a beta of 1.22. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.58 and a current ratio of 1.58. The company has a 50-day simple moving average of $210.53 and a 200 day simple moving average of $185.04. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $229.27.

Insider Activity

In other news, Director Frank Slootman sold 424,852 shares of Snowflake stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $219.35, for a total value of $93,191,286.20. Following the completion of the transaction, the director owned 165,507 shares in the company, valued at $36,303,960.45. This trade represents a 71.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael L. Speiser sold 50,338 shares of Snowflake stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $211.35, for a total transaction of $10,638,936.30. Following the completion of the transaction, the director owned 37,796 shares of the company's stock, valued at $7,988,184.60. The trade was a 57.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,516,826 shares of company stock valued at $555,691,052 in the last quarter. Corporate insiders own 6.80% 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.

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