Ieq Capital LLC Increases Stock Holdings in Snowflake Inc. $SNOW

Key Points

• Ieq Capital LLC increased its stake in Snowflake Inc. by 2.1%, holding 1,280,315 shares valued at approximately $187 million, which accounts for about 1.5% of its investment portfolio.
• Recent analyst ratings for Snowflake show a consensus rating of "Moderate Buy" with various price targets ranging from $230 to $261, reflecting positive sentiment among analysts.
• Insiders at Snowflake have recently sold a total of 2.5 million shares, valued at over $555 million, indicating significant divestments by key company figures.

Ieq Capital LLC raised its position in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 2.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,280,315 shares of the company's stock after acquiring an additional 26,533 shares during the period. Snowflake makes up about 1.5% of Ieq Capital LLC's investment portfolio, making the stock its 12th largest position. Ieq Capital LLC owned 0.39% of Snowflake worth $187,131,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Quarry LP raised its holdings in shares of Snowflake by 9.8% in the fourth quarter. Quarry LP now owns 662 shares of the company's stock worth $102,000 after buying an additional 59 shares during the period. Ignite Planners LLC boosted its holdings in Snowflake by 2.3% during the 1st quarter. Ignite Planners LLC now owns 2,861 shares of the company's stock valued at $418,000 after acquiring an additional 64 shares during the period. Archford Capital Strategies LLC boosted its holdings in Snowflake by 1.9% during the 1st quarter. Archford Capital Strategies LLC now owns 3,609 shares of the company's stock valued at $527,000 after acquiring an additional 68 shares during the period. TD Private Client Wealth LLC boosted its holdings in Snowflake by 8.9% during the 1st quarter. TD Private Client Wealth LLC now owns 832 shares of the company's stock valued at $122,000 after acquiring an additional 68 shares during the period. Finally, WD Rutherford LLC boosted its holdings in Snowflake by 0.6% during the 1st quarter. WD Rutherford LLC now owns 12,247 shares of the company's stock valued at $1,795,000 after acquiring an additional 79 shares during the period. Institutional investors own 65.10% of the company's stock.

Wall Street Analyst Weigh In

SNOW has been the subject of a number of recent analyst reports. Citigroup boosted their price objective on Snowflake from $245.00 to $250.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Truist Financial raised their price objective on Snowflake from $210.00 to $235.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Needham & Company LLC restated a "buy" rating and set a $230.00 price objective on shares of Snowflake in a report on Thursday, June 5th. Stephens assumed coverage on Snowflake in a report on Friday, July 18th. They set an "overweight" rating and a $261.00 price objective on the stock. Finally, BTIG Research restated a "buy" rating on shares of Snowflake in a report on Thursday, May 22nd. Three research 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. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $230.22.

Insiders Place Their Bets

In other news, Director Michael L. Speiser sold 50,338 shares of the business's 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 sale, the director owned 37,796 shares in the company, valued at approximately $7,988,184.60. The trade was a 57.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Slootman sold 424,852 shares of the stock in a transaction that occurred on Thursday, June 26th. The shares were 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 of the company's stock, valued at $36,303,960.45. The trade was a 71.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,516,826 shares of company stock worth $555,691,052 over the last quarter. Company insiders own 6.80% of the company's stock.

Snowflake Trading Down 0.0%

Shares of NYSE:SNOW opened at $194.63 on Wednesday. Snowflake Inc. has a 12-month low of $107.13 and a 12-month high of $229.27. The business's fifty day simple moving average is $210.53 and its 200-day simple moving average is $185.04. 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 current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.94.

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.

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