3,907 Shares in Snowflake Inc. (NYSE:SNOW) Purchased by Element Pointe Advisors LLC

Element Pointe Advisors LLC acquired a new stake in shares of Snowflake Inc. (NYSE:SNOW) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,907 shares of the company’s stock, valued at approximately $603,000.

Other hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in shares of Snowflake by 1.4% in the third quarter. Franklin Resources Inc. now owns 536,588 shares of the company’s stock valued at $66,086,000 after acquiring an additional 7,373 shares in the last quarter. GAMMA Investing LLC lifted its position in Snowflake by 59.6% in the fourth quarter. GAMMA Investing LLC now owns 391 shares of the company’s stock valued at $60,000 after purchasing an additional 146 shares during the period. Nordea Investment Management AB boosted its holdings in Snowflake by 2.3% in the 4th quarter. Nordea Investment Management AB now owns 23,911 shares of the company’s stock valued at $3,682,000 after purchasing an additional 536 shares in the last quarter. Diversified Trust Co increased its position in Snowflake by 174.8% during the 4th quarter. Diversified Trust Co now owns 4,906 shares of the company’s stock worth $758,000 after purchasing an additional 3,121 shares during the period. Finally, Fulton Bank N.A. purchased a new position in shares of Snowflake during the 4th quarter worth approximately $216,000. 65.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Snowflake news, Director Michael L. Speiser sold 403 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $168.01, for a total value of $67,708.03. Following the completion of the transaction, the director now directly owns 25,972 shares of the company’s stock, valued at $4,363,555.72. This represents a 1.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Christian Kleinerman sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $171.75, for a total value of $2,576,250.00. Following the sale, the executive vice president now owns 594,975 shares of the company’s stock, valued at $102,186,956.25. This represents a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 356,963 shares of company stock worth $58,204,058 in the last 90 days. 7.80% of the stock is owned by company insiders.

Snowflake Price Performance

Shares of NYSE SNOW opened at $168.54 on Wednesday. The company has a market capitalization of $55.63 billion, a price-to-earnings ratio of -49.72 and a beta of 1.11. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.88 and a quick ratio of 1.88. Snowflake Inc. has a 1-year low of $107.13 and a 1-year high of $194.40. The business has a 50-day moving average of $153.39 and a 200-day moving average of $157.90.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SNOW shares. Needham & Company LLC lifted their price target on Snowflake from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Jefferies Financial Group decreased their target price on shares of Snowflake from $220.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Evercore ISI increased their price target on shares of Snowflake from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $183.00 price objective on shares of Snowflake in a report on Wednesday, April 2nd. Finally, Oppenheimer increased their target price on shares of Snowflake from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $200.28.

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.