MYDA Advisors LLC Takes Position in Snowflake Inc. (NYSE:SNOW)

MYDA Advisors LLC purchased a new stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 3,500 shares of the company's stock, valued at approximately $540,000.

A number of other institutional investors also recently bought and sold shares of the stock. Stonebridge Financial Group LLC purchased a new position in shares of Snowflake in the 4th quarter valued at approximately $29,000. Quadrant Capital Group LLC lifted its position in Snowflake by 74.6% during 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 period. Blue Bell Private Wealth Management LLC grew its position in shares of 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. Perkins Coie Trust Co increased its stake in shares of Snowflake by 136.3% in the 4th quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock worth $37,000 after acquiring an additional 139 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in Snowflake during the 4th quarter valued at about $38,000. 65.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on SNOW shares. Mizuho raised their target price on shares of Snowflake from $195.00 to $205.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Macquarie started coverage on Snowflake in a report on Wednesday, April 2nd. They issued a "neutral" rating and a $160.00 target price on the stock. Needham & Company LLC raised their price target on Snowflake from $200.00 to $215.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Citigroup upped their price target on shares of Snowflake from $230.00 to $235.00 and gave the stock a "buy" rating in a research note on Tuesday, April 1st. Finally, Wells Fargo & Company reduced their price objective on shares of Snowflake from $215.00 to $200.00 and set an "overweight" rating for the company in a research note on Tuesday. Ten analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $200.27.

Snowflake Stock Up 0.4 %

Shares of Snowflake stock traded up $0.56 during trading on Friday, hitting $159.22. 2,655,249 shares of the stock traded hands, compared to its average volume of 6,411,258. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake Inc. has a 52-week low of $107.13 and a 52-week high of $194.40. The stock's fifty day simple moving average is $155.61 and its 200 day simple moving average is $155.28. The firm has a market cap of $52.56 billion, a P/E ratio of -46.94 and a beta of 1.13.

Insiders Place Their Bets

In other news, Director Michael L. Speiser sold 403 shares of the firm's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $129.25, for a total value of $52,087.75. Following the completion of the sale, the director now owns 26,375 shares of the company's stock, valued at $3,408,968.75. This trade represents a 1.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total value of $2,797,500.00. Following the completion of the sale, the executive vice president now owns 552,930 shares of the company's stock, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 364,342 shares of company stock worth $59,978,513 over the last 90 days. Company insiders own 7.80% of the company's stock.

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.