Snowflake Inc. (NYSE:SNOW) Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC grew its stake in shares of Snowflake Inc. (NYSE:SNOW - Free Report) by 30.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,280 shares of the company's stock after buying an additional 2,623 shares during the period. NewEdge Advisors LLC's holdings in Snowflake were worth $1,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Stonebridge Financial Group LLC purchased a new stake in Snowflake in the 4th quarter worth about $29,000. Quadrant Capital Group LLC raised its position in Snowflake by 74.6% in the 4th quarter. Quadrant Capital Group LLC now owns 213 shares of the company's stock worth $33,000 after purchasing an additional 91 shares during the period. Blue Bell Private Wealth Management LLC increased its position in shares of Snowflake by 189.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company's stock worth $34,000 after acquiring an additional 144 shares during the period. Perkins Coie Trust Co increased its position in shares of Snowflake by 136.3% during the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company's stock worth $37,000 after acquiring an additional 139 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in shares of Snowflake by 1,437.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 246 shares of the company's stock worth $38,000 after acquiring an additional 230 shares during the period. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Price Performance

Shares of NYSE SNOW traded up $0.56 during midday trading on Monday, hitting $158.96. The stock had a trading volume of 2,017,775 shares, compared to its average volume of 6,408,706. The company has a market capitalization of $52.47 billion, a PE ratio of -46.89 and a beta of 1.13. The stock has a 50 day simple moving average of $154.37 and a 200-day simple moving average of $156.30. Snowflake Inc. has a 1 year low of $107.13 and a 1 year high of $194.40. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SNOW. DA Davidson reduced their target price on shares of Snowflake from $225.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Canaccord Genuity Group lifted their price objective on shares of Snowflake from $190.00 to $220.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. Stifel Nicolaus lifted their price objective on shares of Snowflake from $187.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Oppenheimer lifted their price objective on shares of Snowflake from $200.00 to $220.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Finally, BTIG Research raised shares of Snowflake from a "neutral" rating to a "buy" rating and set a $220.00 price objective on the stock in a report on Thursday, February 20th. Ten equities research 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $200.27.

Insider Activity

In related news, EVP Christian Kleinerman sold 15,000 shares of Snowflake stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the transaction, the executive vice president now owns 552,930 shares in the company, valued at approximately $103,121,445. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael L. Speiser sold 403 shares of Snowflake stock in a transaction that occurred 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 transaction, the director now owns 26,375 shares in the company, valued at approximately $3,408,968.75. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 374,342 shares of company stock worth $61,578,513 over the last quarter. 7.80% of the stock is currently owned by corporate insiders.

About Snowflake

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.